After the festival, paper mills frequently sent price increase letters.
Since the Spring Festival, due to strong overseas demand and sufficient orders from paper mills, the superimposed pulp price has continued to rise, and many paper mills have frequently sent price increase letters. According to Zhiyin future.com, recently, the pulp price has been adjusted at a high level, and the publishing bidding has begun one after another, which has a certain confidence boosting effect on the market. Many paper mills such as Shandong Chenming Paper Holdings Limited(000488) , app, Shandong Sun Paper Co.Ltd(002078) , Huatai Paper, Jianghe paper, Yueyang Forest & Paper Co.Ltd(600963) have issued price increase letters in March, in which the price of double offset paper has increased by 50-200 yuan / ton, and the price of some white cardboard manufacturers has increased by 200 yuan / ton.
In terms of household paper, according to Zhuo Chuang information data, since the festival, the average price focus of Sichuan, Chongqing and some northern household paper markets has shifted upward compared with that before the festival. Among them, the low-end price in Hebei is about 200 yuan / ton higher than that before the festival, driving the average market price up by 100 yuan / ton; The high price of bleached bamboo pulp in Sichuan is 100 yuan / ton higher than that before the festival, driving the average market price up by 50 yuan / ton.
the cost side supports the rise of paper price
Recently, there has been continuous news on the supply side of foreign pulp mills. Meadow Lake pulp mill in Canada announced that it would choose to reduce production indefinitely due to repeated interruption of railway services. In Suzano's first quarter briefing, it is expected that the global pulp supply will continue to be limited; Due to the serious transportation shortage, canFor announced that the production of Jiawei pulp factory would be reduced for at least 6 weeks, which was caused by the increase in cost due to the shortage of fiber supply in the region.
The price of imported wood pulp increased immediately after the reduction of production by many manufacturers. Last week, the price of softwood pulp stabilized 20-50 yuan / ton, and the price of hardwood pulp stabilized 20 yuan -100 yuan / ton. China's pulp price has been rising for several months. According to the quotation of business agency, the spot price of China's coniferous wood pulp was 6440 yuan / ton on February 21, up 26.52% from three months ago. Under the strong rise of cost side, paper mills have raised product prices one after another.
It is believed that the short-term rise in maintenance costs of overseas pulp mills will not ease the short-term rise in the price of 926} wood pulp. At the same time, overseas paper prices will not fall rapidly in the short term, and China's paper export growth can continue to be maintained. Under the background of reduced imports and increased exports, the paper supply in the Chinese market will be relatively reduced, and the paper mills can more easily promote the steady increase of paper prices.
the paper sector rose collectively this month
According to the statistics of securities times and databao, there are 22 stocks in the paper sector in the A-share market. The stocks in the paper sector generally rose this month, with an average increase of 4.68% . Mcc Meili Cloud Computing Industry Investment Co.Ltd(000815) , Minfeng Special Paper Co.Ltd(600235) , Shandong Sun Paper Co.Ltd(002078) led the increase, rising 38.36%, 10.42% and 9.26% respectively.
In terms of valuation, papermaking is an undervalued industry. The median rolling P / E ratio of the sector is 17 times, and the latest valuation of five shares is less than 10 times, including Shandong Bohui Paper Industry Co.Ltd(600966) , Shandong Huatai Paper Industry Shareholding Co.Ltd(600308) , Shandong Chenming Paper Holdings Limited(000488) , Shanying International Holdings Co.Ltd(600567) , Shandong Sun Paper Co.Ltd(002078) .
Shandong Bohui Paper Industry Co.Ltd(600966) released the performance express yesterday. The net profit attributable to the parent company in 2021 was 1.705 billion yuan, an increase of 104.44% over the same period of the previous year. The company said that under the combined influence of favorable policies such as "plastic ban order" and "waste ban order" and consumption upgrading, the company's operating performance in 2021 increased significantly compared with that in 2020.
In terms of performance, 10 shares issued 2021 performance forecast or performance express, of which 8 shares were increased in advance. From the median value of the expected year-on-year increase in net profit, Fujian Qingshan Paper Industry Co.Ltd(600103) , Yibinpaperindustryco.Ltd(600793) , Xiamen Anne Co.Ltd(002235) , Shandong Bohui Paper Industry Co.Ltd(600966) 4 shares are expected to increase by more than 100%, and Hangzhou Huawang New Material Technology Co.Ltd(605377) , Shandong Sun Paper Co.Ltd(002078) others are expected to increase by more than 50%.
Shandong Sun Paper Co.Ltd(002078) the performance forecast shows that the net profit attributable to the parent company is expected to be 2.85-3.12 billion yuan, with a year-on-year increase of 45.92% - 59.75%, mainly due to the release of the company's new production capacity and the increase in the production and sales of related paper products and wood pulp during the reporting period.
