Paper stocks had the highest gains. As of press release, Nine Dragons Paper (02689) rose 6.1% to HK$3.48; Lee & Man Paper (02314) rose 5.58% to HK$2.46; and Chenming Paper (01812) rose 2.21% to HK$1.85.
The Zhitong Finance App learned that paper stocks had the highest gains. As of press release, Nine Dragons Paper (02689) rose 6.1% to HK$3.48; Lee & Man Paper (02314) rose 5.58% to HK$2.46; and Chenming Paper (01812) rose 2.21% to HK$1.85.
According to the news, on March 22, Suzano announced that the price of broadleaf pulp in the Asian market will rise by 30 US dollars/ton in April 2024, 80 US dollars/ton in the European market, and 100 US dollars/ton in the North American market. Russian needle announced that the price of coniferous pulp in the Chinese market in April was 790 US dollars/ton, and supply was halved due to pulp mill maintenance and conversion; Mercer's Canadian Moon softwood pulp price was 820 US dollars/ton in April.
Orient Securities pointed out that after the Spring Festival, global pulp prices continued to rise above expectations, with increases in Europe and the US greater than in the Chinese market; rising demand in Europe and the US were compounded by frequent supply disruptions, and industrial chain inventories remained low, and pulp prices may continue to strengthen in the second quarter. The bank believes that the paper supply and demand pattern is the core factor that determines its cost transmission capacity. The current supply and demand pattern in the cultural paper industry is superior to white cardboard and box board paper, and may be the variety that will benefit the most from this round of rising pulp prices.