Research
The content listed is not for investment, financial, accounting or tax advice and is provided for informational purposes only.
Forestry & Paper: Nordic Paper Kraft Paper Insights
Key message: Positive read-though for Mondi. Strong performance from the Kraft Paper Segment and expected to continue.
Cashbuild – Earnings Update
Key message: We update our earnings to remove the impact of the TBC deal (turned down by Competition Commission) and recent trading conditions, including the impact of the recent unrest on Cashbuild and the 4Q Operational Update.
Forestry & Paper: Industry Price Update
Key message: Hardwood pulp price drops 8% in China. CWF producers start realising price increases, and containerboard producers firmly in the green.
Forestry & Paper: BillerudKorsnäs Paper Packaging Insights
Key message: Positive read-though for Mondi. Strong performance from kraft paper (sales +4% y/y and +10% q/q). The structural preference for paper packaging continues.
Restricted content
Forestry & Paper: Textile Fibres Update
Key message: VSF and cotton in the green. VSF vitals improving further with op. rate up to 74% & inventory days down to 25.5. DWP price holding ground.
Cement Import Monitor
Key message: We initiate a Cement Import Monitor to track imports by port and country of origin.
Forestry & Paper: Industry Price Update
Key message: China pulp price seems to be tempering global price momentum. Graphic Paper producers squeezed further but respond with price increases of 8-10%. Sack kraft market momentum likely to persist into CY 22E.
Restricted content
Forestry & Paper: Textiles Fibre Update
Key message: VSF, cotton & polyester all in the green. VSF vitals improving with op. rate up to 72% & inventory days down to 27. DWP price weakness starts to finally play catch-up to VSF pricing.