纸浆和纸张月度追踪报告— 2025年5月

This monthly report includes charts and tables with key global data points for the pulp and paper sector. We track information from different data providers for both up- and downstream products across the supply chain, including inventories, production, apparent consumption and prices. Key highlights of the month: Chinese pulp prices for May decreased 13% m/m for hardwood and 11% m/m nfor softwood. Hardwood resale price declined 5%, while softwood resale decreased 2% m/m. In Europe, pulp prices have been more resilient for now, flat m/m for hardwood, nwhile increasing by 1% m/m for softwood. China paper m/m prices were mixed, ranging from flat to a low single digit ndeclines m/m in May for most grades, while it slightly increased for containerboard. Consequently, compared to their 5-yr historical avg, paper margins are 38% below for ivoryboard and 15% below for tissue, while 5% above for UWF and 13% above CWF. In Europe, graphic paper prices were flat m/m while containerboard paper price