Core Viewpoint - The report from Guotai Junan indicates a downward trend in pulp and paper prices in June, with expectations for pulp prices to remain low and paper prices to show weak performance during the off-season [1] Group 1: Pulp and Paper Price Trends - In June, the average price of double glue paper decreased by 0.9% to 5153 CNY/ton, while white card paper saw a slight increase of 0.29% before turning down, and boxboard paper fell by 0.31% [1] - The market is characterized by strong supply and weak demand, leading to a continued decline in prices for cultural paper, white card paper, and boxboard paper [1] Group 2: Cultural Paper Insights - As of June 27, the market average price for 70g high white double glue paper was 5153 CNY/ton, down 47 CNY/ton (0.90%) month-on-month and down 573 CNY/ton (10.01%) year-on-year [2] - Paper mills reported stable pricing at the beginning of the month, with cautious purchasing behavior from distributors and significant inventory pressure leading to price reductions [2] Group 3: White Card Paper Analysis - The average market price for 250-400g flat white card paper was 4088 CNY/ton as of June 27, reflecting a 0.29% increase from May but a 6.17% decrease from the same period last year [3] - Despite initial price increases, the lack of sustained demand during the traditional off-season led to a gradual decline in prices as mid-month approached [3] Group 4: Boxboard Paper Overview - The average price for boxboard paper was 3503 CNY/ton as of June 27, down 11 CNY/ton (0.31%) from May and down 3.68% year-on-year [4] - The traditional off-season in June resulted in weak demand, with increased inventory levels and limited orders from paper mills contributing to a downward price trend [4] Group 5: Pulp Market Conditions - Chile's Arauco announced new pulp prices: needle pulp at 720 USD/ton and unbleached pulp at 620 USD/ton, with no current quotes for broadleaf pulp [5] - The demand side remains weak, with paper mills adopting price-cutting strategies to manage procurement costs, further pressuring pulp prices [5] - The overall market is experiencing a supply surplus, with stable import volumes and abundant domestic pulp supply, limiting price rebounds in the imported pulp market [5]