Producers successfully pushed through January's announced $20/ton price hike initiative on NBSK. In the last year, prices have risen $150/ton. Robust global demand, up 4.4% YTD, and tight supply is supporting
higher pulp prices. Global inventories remain low at 29 days of supply. New supply is gradually ramping up in Chile. Arauco's Nueva Aldea started up last month and CMPC has reportedly started up its
Santa Fe # 2 line; both lines however are running slowly with limited production. Terrace Bay Pulp restarted its 350k/mtpy NBSK
line in Ontario.
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