The SCI wood pulp price index declined this week. As of May 8, the index closed at 1,077, down 9 points WoW and 16% YoY.
This week, imported wood pulp spot prices continued the downward trends amid persistently cautious market sentiment. Key market drivers affecting the pulp prices were as follows. First, the news updates about China agreed to engage with the U.S. for talk boosted the market sentiment, and in addition to the later announced monetary easing, the pulp futures price rebounded, lending support to the spot makret. Spot sllers raised pulp prices in some regions, but due to sharp declines previously, the weekly prices still headed down. Second, the negotiation between overseas makret pulp suppliers and domestic buyers was in a stalemate, but the bearish expecations affected wood pulp spot prices. Third, the end demand failed to improve noticeably, dragging the pulp prices.
SCI data shows that as of May 8, the weekly average price of imported SWP was RMB 5,960/mt, down 2.55% WoW, and the price of imported HWP averaged RMB 4,175/mt, down 3.45% WoW. The weekly average price of imported UKP was RMB 5,453/mt, down 0.64% WoW, while that of CMP was RMB 3,842/mt, up 1.03% WoW.