¦ Pulp prices up in the U.S. and Europe, unchanged in China. U.S. NBSK pulp prices are reported up US$6.98 this week. In Europe, NBSK is up US$7.10 (down EUR2.42), while BHKP is up US$7.89 (down EUR1.10). In China, BHKP is reported up US$0.08 (up RMB1.82).
¦ Year-to-date, NBSK pulp prices are up US$117.21 in the U.S. and up US$127.13 in Europe (up EUR129.60). YTD BHKP prices are up US$139.60 (up EUR134.41) in Europe, and up US$138.10 (up RMB941.59) in China.
¦ Newsprint prices rise. Prices for 27 lb and 30 lb newsprint are reported up US$2.67 and US$2.56, respectively this week. YTD, prices are up US$38.76 and US$37.48, respectively for 27 lb and 30 lb newsprint. Note: all prices are per tonne.
Recommendation
¦ Pulp prices continue to move higher due to extreme supply tightness; we expect pulp prices to peak in Q3/10. We would continue to avoid newsprint stocks.
The above is weekly from Scotia.