Mark Wilde of Deutsche Bank presented the state of the Paper industry -
A few notes-
Pulp markets appear to be peaking. Current NBSK list prices are $770/mton in North America (up from $620/mton last September). Prices will be up q/q in Q3, but momentum is easing. The story is similar in the paper markets – Q3 prices are up sequentially, but there is growing uncertainty about the future. An uncoated free sheet September
price hike was deferred, inventories are rising and pricing on spot deals has eased. Coated paper prices are under pressure.
Containerboard demand is solid, but supply is more readily available and there is uneasiness about cyclical easing as well as the late November seasonal slowdown.
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