成本压力叠加招标预期，双胶纸市场喊涨积极
Xin Hua Cai Jing·2025-10-31 07:21

Core Viewpoint - The dual glue paper market is expected to see a slight price increase in November due to a combination of increased demand from publishers and rising production costs from paper companies [1][4][6]. Group 1: Market Demand and Supply - Since September, some publishing groups have initiated tenders for spring 2026 textbooks, indicating a potential increase in demand in November [1]. - The dual glue paper market experienced weak trading in September and October, with only a few tenders issued in central and northern China, leading to a continued decline in prices [2]. - As of October 28, the average market price for 70g wood pulp high white dual glue paper was 4,731 yuan/ton, and for 70g wood pulp natural white dual glue paper was 4,430 yuan/ton, reflecting a decrease of 0.26% and 0.62% respectively compared to the end of September [2]. Group 2: Price Trends and Production Costs - Several large paper companies have announced price increases of 200 yuan/ton for November, driven by strong pricing intentions amid rising production costs [4]. - The average price of broadleaf pulp increased by 0.60% in October compared to September, contributing to higher raw material costs for dual glue paper [4]. - The dual glue paper market has been under pressure, with theoretical profitability dropping to negative territory since July 2025, indicating significant operational challenges for paper companies [4]. Group 3: Future Outlook - The dual glue paper market is expected to see a slight price increase of 1%-3% in November, although overall demand support remains limited due to cautious purchasing behavior from distributors [6]. - The supply-demand imbalance persists, with new production capacity in southern China adding pressure, but some production lines in eastern China may undergo maintenance, potentially easing supply pressure [6]. - The upcoming tender announcements from publishers may enhance market sentiment, but the overall demand outlook for November is not expected to show significant improvement [6].