International market kraft paper market (translation version)

OAKLAND, CA, 14 April 2017 (PPI Pulp & Paper Week) - With surging export demand for extensible sack kraft grades and tightening kraft paper supply from swing containerboard machines, North American kraft paper producers are pushing through their announced $30/ton price increase on unbleached multiwall grades in April, contacts report.

       2017年4月14日加利福尼亚州奥克兰（PPI纸浆&造纸周报）- 随着可伸缩牛皮纸袋的出口需求剧增，以及摇臂式硬纸板机器生产的牛皮纸的供应紧张，业内人士认为，北美牛皮纸制造商在四月，称原色多层牛皮纸的涨幅将达到30$/每吨。

"With the shortage of paper in the market, we are having no problem implementing the price increase," one contact said. "The amount of the increase is pretty reasonable, with the market tight and everyone oversold."

       “随着纸在市场上的短缺，其价格必将上升，”一位业内人士称，“由于市场紧张，库存不足，增加幅度仍属合理。”

The increase is the first on multiwall kraft paper in the North American market since the spring of 2014.

       从2014年春季依赖，北美市场中价格首先上涨的多层牛皮纸。

So far no price increases were announced by North American converters on finished shipping sacks, as of late in the day on Apr. 14. The paper increase will be a challenge to pass through because of the continuing decline in demand for sacks in North America, according to contacts. Shipments of sacks declined by 5.5% last year in the USA and the trend reportedly continued into 2017.

       到目前为止，北美中间商并未宣布成品运输纸袋的上涨幅度。业内人士称，由于北美对牛皮纸袋的需求持续下降，纸张的涨幅将面临挑战。去年美国纸袋的发货量下降了5.5%，据报道，这一趋势将持续至2017年。

But as one converter noted, market participants are "used to the declining trend in the market."

       但是正如某中间商所说的那样，市场参与者“已习惯了市场的下降趋势。”

Mills hike unbleached $30/ton. Among producers announcing the $30/ton increase on natural multiwall kraft paper for Apr. 1 in the domestic market were Hood Container (St. Francisville, LA), KapStone (Roanoke Rapid, NC, and Longview, WA), Mondi (Pine Bluff, AR), and Georgia-Pacific (Palatka, FL).

       米尔斯的未漂白纸的价格上升至30$/每吨。一些国内市场的制造商称天然多层牛皮纸的价格将上涨30$/每吨，这些制造商包括Hood Container (圣弗朗西斯维尔，洛杉矶)、KapStone (Roanoke Rapid, 新喀里多尼亚, 朗维尤, 华盛顿州)、Mondi (派恩布拉夫, 阿肯色州)和 Georgia-Pacific (帕拉特卡, 佛罗里达)。

KapStone and Premium 1 Papers (P1P) also announced the $30/ton hike on unbleached extensible sack kraft paper, for Apr. 1 and Apr. 15, respectively. P1P represents Canadian Kraft Paper, which recently acquired the former Tolko mill in The Pas, MB, as well as Canfor Pulp's Prince George, BC, mill, which mainly produces bleached grades. There were no domestic price increases on bleached multiwall grades, as of Apr. 14.

Swing PMs tighten supply. The increases take the new domestic North American "net" levels to about $920-1,000/tonne and higher for high- performance unbleached extensible sack kraft, and toSwing PMs tighten supply. The increases take the new domestic North American "net" levels to about $920-1,000/tonne and higher for high- performance unbleached extensible sack kraft, and to around $730-780/ton for natural multiwall flat kraft from southern mills and to $800/ton and higher levels for natural multiwall from northern mills, according to contacts.

       KapStone 和Premium 1 Papers (P1P)也分别在4月1日和4月5日分别称未漂白可延伸牛皮纸袋的价格将上涨30美元/每吨。 P1P代表了加拿大牛皮纸，它最近收购了位于达帕斯和MB的Tolko工厂，以及Canfor Pulp公司的Prince George、BC、工厂（主要生产漂白纸）。截止到4月14日，国内多层漂白纸的价格并未上升。摇臂式硬纸板机器生产的纸张供应紧张。业内人士称，该增长使得北美国内的高性能未漂白可延伸的牛皮纸“净值”水平达到920-1000美元/每吨以上，而南部工厂天然多层牛皮纸的价格在730-780美元/每吨左右，北部天然多层牛皮纸的价格在800美元/每吨甚至更高。

"Supply of kraft paper has tightened as swing machines in North America produce more containerboard," one contact said. "Containerboard has become more attractive for swing machines to produce following a $40/ton price increase last fall and another proposed $50/ton price hike in April.

       “由于北美摇臂机器生产的硬纸板与日俱增，牛皮纸的供应逐渐紧张，”一位业内人士称，“硬纸板对摇臂式机器来说更加吸引人，去年秋天价格上涨了40美元/每吨，并有可能在4月份达到50美元/每吨.”

At the same time export demand for extensible sack kraft paper has been surging from emerging markets, leaving mills in North America and Europe with heavy backlogs and a "take-it-or-leave-it" attitude toward new orders.

       与此同时，可延伸袋式牛皮纸的出口需求在新兴市场一路飙升，导致北美和欧洲的工厂库存大量积压，新的订单面临着“要么接受要么放弃”的强硬局面。

Second price hike in Europe. Sack kraft paper producers in Europe were "poised to raise prices for a second time since the start of the year amid resilient demand and extremely high order books at mills," PPI Europe reported.

欧洲出现了第二次价格上涨。PPI欧洲报道称，欧洲生产的牛皮纸生产商将再次提价，这是由于今年年初依赖弹性需求和工厂订单量急剧增加。

Major European producers asked customers in Europe for a further Euro 30-50/tonne increase from April on unbleached and bleached sack kraft paper grades, PPI Europe said. Among producers reportedly informing customers of increases were Mondi, BillerudKorsnas, and Smurfit Kappa Group.

       从四月份开始，欧洲主要的生产商要求欧洲客户对未漂白和漂白牛皮纸上升30-50欧元/每吨，PPI欧洲公司称。其中向客户声称将提价的制造商有Mondi、BillerudKorsnas和Smurfit Kappa Group。

This follows a Euro 30-40/tonne increase implemented on unbleached and bleached grades in January from a Euro 40-80/tonne increase announced by producers last November, according to PPI Europe.

       据PPI欧洲公司报道，对于未漂白和漂白的牛皮纸，去年11月制造商宣称的价格幅度为40-80欧元/每吨，1月份为30-40美元/每吨。

European mill orders up 50%. Demand for extensible grades in Europe and North America were called stable to slightly increasing, but export demand from emerging markets has surged due to strengthening global demand and inventory restocking.

       欧洲工厂订单上升50%。欧洲和北美对可延伸牛皮纸的需求稳定增长，但新兴市场的出口需求将由于全球需求的增加和库存的补进而上升。

Mill backlogs for extensible grades for North American mills were reported this week to be four to five weeks, but out much further for some European mills. Order books of European mills were over 50% higher than a year ago, according to Eurokraft figures contacts quoted to PPI Europe.

       据报道，北美工厂可延伸等级的牛皮纸将从本周开始持续积压四到五周。但对一些欧洲工厂来说，时间可能会延长。根据PPI欧洲公司引用的欧洲牛皮纸数据披露，欧洲工厂的订单量比上一年增加了50%以上。

Export market 'red hot.' "The export market is red hot now and we're getting inquiries from customers we haven't heard from in years," a North American trader said. "Customers keep coming back with higher numbers. There's a huge opportunity for anyone with available paper capacity."

       “出口市场红火。”一位北美的贸易商称，“出口市场现在势头很好，我们不断的得到新老客户的询价，这在以前是没有的。”“客户大量回流，任何在纸类行业有能力的人都有机会获得成功。”

Spot bids for unbleached extensible from markets such as Africa and the Middle East reached as high as $900-1,000 ton. This would be up from the mid-$700/ton range last fall. But such high spot prices may not be "real" because of lack of supply, one contact noted.

       非洲、中东等市场对未漂白可延伸的现货牛皮纸的出价高达900-1000美元/每吨。而去年秋天的价格在700美元/每吨左右。一位业内人士称，由于缺乏供应，这种报价可能不是真实的。

"Spot opportunities in markets such as the Middle East and Africa are $200/tonne or more than they were in November, while major markets are up at least $50/tonne," the contact said.

       该业内人士称，“中东和非洲等市场的现货价格比11月多200美元/每吨。而主要市场的涨幅至少在50美元/每吨。”

Export contract prices for extensible rose $50-60/tonne at the beginning of the year and are set to rise again for contracts up for negotiation in the second half, one contact said.

       一位业内人士称，年初可延伸等级纸的出口合约价格每吨上涨了50-60美元，并将在下半年持续上涨。

"Some export contracts, which will expire in the first half, won't be renewed," the contact said.

       他称，“一些出口合约将在上半年到期，且在下半年不会更新。”

Export prices for unbleached extensible grades in emerging markets reached a peak of around $1,050-1,100/tonne in 2013 before coming down to the mid-$700/tonne range by late 2015 and through 2016.

       新兴市场未漂白可延伸等级纸的出口价格在2013年高达1050-1100美元/每吨，2015年年底至2016年下降到700美元/每吨左右。

Cement demand improving. The major end use market for high-performance extensible sack kraft paper is for packaging cement in emerging markets.

       水泥的需求增加。新兴市场中，高性能可延伸纸的主要用途是包装水泥。

Cement demand is expected to be up 2.4% in 2017, following a 2.5% decline last year, with the fastest growth in the Asia-Pacific region, according to LafargeHolcim, the largest global cement producer in a recent presentation. China accounts for more than half of global cement demand.

       全球最大的水泥制造商 LafargeHolcim在一次会议上表示，2017年水泥的需求将增长2.4%，而去年下滑2.5%，其中亚太地区增长最快。中国市场占全球水泥需求的一半以上。

One trader said sack kraft paper demand has been particularly strong from China, where, for example, four new sack converting lines are being installed for cement packaging around Guangzhou, one trader noted.

       一位贸易商指出，中国对牛皮纸的需求十分巨大，比如，用于包装水泥的四个新的牛皮纸加工流水线正在广州附近建设。

"China is moving away from polywoven bags for cement, creating tremendous opportunities for paper," the trader said.

       “中国正在停止使用塑料编织袋包装水泥，为纸袋创造了大量机会。”该贸易商称。

But the market in China has not been attractive to mills in the US, Europe, and Japan due to 14.9-29% antidumping duties imposed last year.

       由于去年实施的反倾销税为14.9-29%，中国市场对美国、欧洲和日本的工厂并无吸引力。

Manitoba mill overbooked? There was concern earlier in the first quarter about the strength of the extensible market and last fall's $50-60/tonne export price increase after Tolko Industries found a buyer for its Manitoba mill, surprising the market. The mill was set to close Dec. 2 for "economic" reasons, unless a buyer could be found, causing nervous customers to move to other suppliers.

       马尼托巴工厂超额定出？第一季度人们曾担心可延伸纸的市场的强度，去年秋天出口价格为50-60美元/吨，但当Tolko Industries公司为马尼托巴工厂找到买家后，价格上升，为市场带来了惊喜。该市场原本因为经济原因将于12月2日关闭，除非找到买家，从而导致客户十分紧张，转向了其它供应商。

With its purchase by private equity-backed Canadian Kraft Paper in mid-November, the mill was then in the difficult situation of having to rebuild its order books in the first quarter.

       11月中旬受到私募股权的加拿大牛皮纸公司的购买，该工厂在第一季度不得不重新建立订单。

But the new owners have been winning back both domestic and export customers, helped by the strong market environment, and the Manitoba mill is now overbooked with orders, according to contacts

       但是，由于市场强劲，新的业主已赢得了大量国内外客户，业内人士称，现在马尼托巴工厂的订单已经超额定出。