Annual inventory of imported dissolving pulp market in 2018

Source: Zhuo Chuang Information

In 2018, the price trend of dissolving pulp outer disk was wave-shaped, which was similar to the price of domestic dissolving pulp and the price of downstream viscose staple fiber. The highest price of the needle-dissolving pulp outer disk appeared in March and April, which was 1040 US dollars/ton. The lowest price in the year appeared in December, which was 940 US dollars/ton. The average annual price of needle-dissolved pulp outer disk was 996 US dollars/ton, up 15 US dollars/ton from the same period of 2017, which was 1.53%/ton, an increase of 1.53%. The highest price of broadleaf dissolving pulp outside the year appeared in March, June, July, and August, at 950 US dollars/ton, and the lowest price in the year appeared in December, at 910 US dollars/ton. The average annual price of broad-leaved dissolving pulp outer disk was 934 US dollars/ton, up 33 US dollars/ton from the same period of last year's 901 US dollars/ton, or 3.66%.

Keyword of the Year 1: "Anti-dumping Tax"

On February 12, 2015, Canada initiated the World Trade Organization dispute settlement procedure in the final measure of anti-dumping of pulp products (hereinafter referred to as DS483 case). On May 22, 2017, the WTO Dispute Settlement Body passed the report of the Expert Group on the “China – Anti-dumping Measures against Imports of Pulp from Canada”. The execution period of the case is 11 months, from the date of the adoption of the dispute resolution report to April 21, 2018. On April 20, 2018, China made a decision to continue to impose anti-dumping duties on imported pulp products. The import volume of dissolving pulp in China is generally oscillating upward trend. The average annual growth rate of dissolving pulp imports in 2013-2017 is 10.73%. Among them, the import volume of dissolving pulp in China in 2012 was 2.0643 million tons, and the average import price was 976.86 US dollars/ton. The amount of dissolved pulp from the United States, Canada, and Brazil accounted for 40.04% of the total imports, and the import amount also accounted for 43.44%.

Keyword 2 of the Year: "China-US Trade Friction"

On September 17, 2018, US time, the US government announced that it will impose a 10% import tariff on 200 billion US dollars of goods originating in China from September 24, and will impose tariffs on January 1, 2019. The tax rate is raised to 25%.

On September 18th, Beijing time, the Ministry of Commerce of the People's Republic of China announced an announcement on the tariff imposed on some goods originating in the United States. At 12:01 on September 24, 2018, a tariff of 10% was imposed on 3,571 items of tax items, and a tariff of 5% was imposed on 1,636 items of tax items. Among them, a 5% tariff is imposed on the dissolving pulp imported from the United States.

China is the world's largest dissolving pulp consumption country. In 2018, the import volume of dissolving pulp was 2.84 million tons, and the domestic production capacity was about 1.1 million tons. The import dependence is large. The United States is the world's largest producer of dissolving pulp with an annual production capacity of 2 million tons. In 2017, China's imports from the United States accounted for 11.98% of the total imports. In 2018, imports from the United States accounted for 11.46% of the total imports, and imports accounted for 2017. The annual change is not large, and it is still China's main importer of dissolving pulp.

Table of dissolved pulp from the United States from 2017 to 2018

Imported dissolving pulp market outlook

In 2018, about 350,000 tons of new capacity will be postponed until 2019. In 2019, short-stick manufacturers will continue to hold capacity expansion plans. The basis for China's short-term production capacity will be further increased, while the domestic dissolving pulp production line will be about 600,000. The ton is also postponed until 2019. The overall domestic supply and demand situation is stable. It is expected that the dependence on imported dissolved pulp will not change much in 2019 compared with 2018, and the outer disk price will be 850-950 US dollars/ton.

Editor in charge: Ge Hongyan

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