May 2012
Over The Wire Tissue Edition
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China Pulp Inventories Rise, U.S. Markets Better than Expected

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"Is the party over in pulp?" Mark Wilde, senior analyst for Deutsche Bank, asks. Trade reports out of China, he says, suggest an easing in pulp prices. "With inventories up markedly in recent months, traders and resellers have reportedly begun to unload pulp at discounted prices," he adds.

In the U.S., pulp prices have been better-than-expected. "We’re raising our FY12 U.S. NBSK (northern bleached softwood kraft) price estimate by $30/metric ton to $865/metric ton. However, we’re making no change to our FY13 estimate of $850/metric ton. Cost pressure has been more benign than we expected during Q1.

 

 

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