The market has continued to tighten as merchants are starting to scramble for offset rolls. Prices on 50-lb offset rolls rose
$45/ton in January and another $5 in February. Most producers announced price hikes for February on cut-size (copy paper) grades, with the trade papers reflecting $20/ton of improvement. Glatfelter announced a $50/ton hike on trade book paper recently. Operating rates are in the low 90's and further supply withdrawals are probable and might drive operating rates higher.Demand has improved in recent months; January shipments rose 6.1% vs January 2005.
The pulp market rally is continuing. Arauco recently announced plans to boost pulp prices by $20/mton in March. Other
pulp producers are expected to follow. Softwood pulp markets continue to be tighter than hardwood. NBSK inventories
stands near 31 days/supply compared to 37 day/supply for NBHK. World shipments were up 6.5% y/y in January.
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