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Chinas Paper Industry Operating In the First Quarter of 2008 and Forecast
China Market Report, May 2008, Pages: 21
In the first quarter of 2008, the profits and management capacity of China’s paper industry has promoted significantly. Benefiting from the rising paper prices, the listed paper companies made of 12.678 billion yuan incomes, an increase of 30.8 per cent year-on-year, net profit rose 125.2 per cent year-on-year in the first quarter of 2008. The gross profit ratio of paper industry has increased 19.22% in the first quarter of 2008, an increase of 16.27 percent year-on-year, the growth of net profit margin has increased 55.99% year-on-year.
The different kinds of Paper’s prices affected the companies’ profit. The price of Cultural paper, White Cardboard and copper paper have risen sharply since August last year to the first quarter of 2008, and still remained at a high level in the second quarter of 2008. The policy of reduction of emission and Energy-saving, and the shut down of backward production capacity; and the policy of increasing the enter threshold of paper industry. These two factors will affect the paper price in a high level in the future.
Since the first quarter of 2008, although the global pulp price has increased 10-20 U.S. dollars / tons, but the import price of wooden pulp based on RMB has been stabilizing, the import price of hardwood pulp rose 3.1 percent year-on-year, and the import price of coniferous pulp remained the same as in the fourth quarter of last year, down 1 per cent year-on-year. Meanwhile, imports of waste paper price has been continuing to rise, the price of U.S. old corrugated container (OCC) have reached 1,780 yuan / ton on march of 2008, rising 85yuan/ton compared with the end of last year, and U.S. old newsprint paper (ONP) rose 170 yuan / ton, reached 1,750 yuan / ton on march.
In terms of the national environmental policies in 2008, the elimination of backward production capacity will balance the domestic paper industrys supply and demand. The environmental protection policy will increase the cost of paper, but, it also able to benefit the larger paper manufactories who have invested more on environment protect equipments and more competitive than small factories, and will help improving the health of the paper industry. Meanwhile, the policy of shut down backward and the new industrial policy of strict enter threshold will keep the prices of cultural paper, cardboard paper and white paper in a high level.
The improvement of the relationship between supply and demand, the booming of paper industry, and the important role of paper industry in economy and society, and the continual development of the Chinese economy will have a strong support for the development of the paper industry.
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