Pulp and Wood Market Update in China

The Chinese pulp market is currently in a seasonal lull ahead of the New Year, with mixed signals on paper margins and high inventory levels. Long-term, China is focused on domestic integration and forest yield improvements to increase sector competitiveness.

Key Takeaways

• 1.Chinese pulp market activity is slowing ahead of the Chinese New Year, with negotiations set to resume in late March.
• 2.Major Chinese producers like Nine Dragons Paper are aggressively pursuing vertical integration through the construction of four new pulp mills.
• 3.China is significantly expanding its domestic timber forest plantation and R&D spending to improve future competitiveness and yield.

Table of Contents

• China
• Europe
• Latin America
• Disclosure Appendix
• Price target and rating history chart(s)
• Regulatory disclosures
• Ratings, coverage universe and related definitions
• Global product; distributing entities

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