Forestry & Paper: BillerudKorsnäs Paper Packaging Insights
Key message: Positive read-though for Mondi. Strong performance from kraft paper (sales +4% y/y and +10% q/q). The structural preference for paper packaging continues.
Forestry & Paper: Textile Fibres Update
Key message: VSF and cotton in the green. VSF vitals improving further with op. rate up to 74% & inventory days down to 25.5. DWP price holding ground.
Forestry & Paper: Industry Price Update
Key message: China pulp price seems to be tempering global price momentum. Graphic Paper producers squeezed further but respond with price increases of 8-10%. Sack kraft market momentum likely to persist into CY 22E.
Forestry & Paper: Textiles Fibre Update
Key message: VSF, cotton & polyester all in the green. VSF vitals improving with op. rate up to 72% & inventory days down to 27. DWP price weakness starts to finally play catch-up to VSF pricing.
Forestry & Paper: Industry Price Update
Key message: Pressure on Chinese pulp prices, while rising European pulp prices erode graphic paper margins further. Kraftliner up 1.5% and further SBS price increases announced in North America.
Forestry & Paper: Textiles Fibre Update
Key message: Cotton in the green, while VSF and polyester weaken. VSF operating rate down to 67%, while inventory days tick up to 27.5.
Forestry & Paper Price Update
Key message: Pulp prices stable but industry stats appear weaker. European graphic paper demand shows strong rebound y/y but m/m comparison points to weaker demand. Further containerboard price increases announced, while OCC remains stable.
Forestry & Paper Industry Insights
Key message: Fedrigoni results confirm further momentum for specialty papers and self-adhesive labels. Positive read-though for Mondi as Ahlstrom Munksjö’s results point to strong release liner demand. Strong recovery likely to see H&M resume dividends.
Forestry & Paper Textile Fibre Update
Key message: Cotton and polyester in the green, while VSF shows signs of further pressure. Domestic DWP prices play further catch-up to imports. VSF operating rate up to 69%, while inventory days tick up to 25.5.
Forestry & Paper Price Update
Key message: Pulp stable. European graphic paper margins weaken further, while US CFS prices set to increase further. Containerboard producers in Europe and North America confirm further increases.