Mixed Signals for Market Pulp
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U.S. northern bleached softwood kraft (NBSK) pulp list prices in May were flat at $1,020/metric ton, Mark Wilde, senior analyst with Deutsche Bank, reports. In China, he adds, trade contacts suggest that local NBSK prices this week are down ˜$70 - $80/metric ton from May's $920 - $930/metric ton list price level. The key driver, he says, is a $500/metric ton plunge in spot dissolving pulp prices in China. In Europe, Mercer has followed Sodra in announcing a $30/metric ton price hike for June 1.
Strengthening of the euro has limited margin gains for euro-based producers, Wilde notes. Domestically, low inventory levels, second quarter maintenance downtime, and the weak U.S. dollar suggest a positive bias on U.S. softwood prices, he adds.
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