Research
The content listed is not for investment, financial, accounting or tax advice and is provided for informational purposes only.
Forestry & Paper: Mondi Q3 21A Insights
Key message: Strong Q3 21A but Q4 to face headwinds from higher energy costs (EUR30-40mn) and planned shuts (EUR 40mn).
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Afrimat – 1H FY22 Trading Update
Key message: 1H FY22 will get a boost from high iron ore prices, but the recent iron price pullback is not unexpected and built into our forecast. Growth is driven by production increases, not higher than normal commodity prices.
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New Vehicle Sales – September 2021 Key message: On 1 July 2021, the Competition Commission’s Guidelines for Competition in the South African Automotive Aftermarket become effective. The final guidelines were issued on 29 January 2021 and are available on the...
PPC – Operational Update
Key message: a positive trading update with the removal of an undertaking for a capital raise the highlight.
Forestry & Paper: Industry Price Update
Key message: Pulp prices steady but likely to come under pressure. UWF price up 1%, while CWF margins further in the red. Testliner gains further ground as does waste paper.
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Forestry & Paper: Textiles Fibre Update
Key message: VSF prices in the red again, down 2-3%. VSF operating rate down to 68% and inventory days tick up to 35.
Forestry & Paper: Industry Price Update
Key message: Slight pressure on China pulp prices, small gains for graphic paper producers, but CWF margins still in the red. Containerboard in the green across all grades.