Key message: Lower box prices and higher OCC costs more than offset strong box growth of 8%. Exceptionally strong demand is driving a box price recovery (already under way), with most of the benefit expected in FY 22E.
Key message: Cotton down 4% w/w, VSF and polyester mostly stable. Domestic DWP prices play further catch-up to imports. VSF operating rate drops to 68% and inventory days tick up to 24.
Key message: H&M sales update points to strong textile demand recovery. Voith sees highest order book in nine years.
Key message: Graphic paper margins under further pressure (higher pulp & lower paper prices). Containerboard market heats up further with European & North American producers targeting further increases.
Key message: Cotton and VSF in the green, while polyester was in the red. Domestic DWP prices play catch-up to imports.
Key message: Smurfit Kappa expands corrugated network in South America and Palm set to start production at its new 750ktpa testliner machine.
Key message: Pulp price jumps 4-7% in Europe, squeezing graphic paper margins further. Two new cash settled pulp futures launched, with prices expected to drop by 11-17% in CY 22E.
Key message: Weak quarter due to maintenance. UWF and Pulp outlook encouraging. April UWF order books at a historical high.
Key message: Cotton and polyester in the green, while VSF in the red and with DWP following suit, down 4%.
Key message: Mondi completes Olmuksan acquisition. Sappi starts producing labels at Gratkorn. US UFS demand in the green!