HK Movers | Paper Stocks Surge as Industry Leader Announces Third Price Hike This Month

Tiger Newspress
23 Jul

On July 23, Hong Kong paper stocks surged during the trading session, with Nine Dragons Paper rising nearly 9%, Lee & Man Paper increasing by mearly 7%, and Chenming Paper as well as Sunshine Paper also following suit.

Recently, ND PAPER announced another price hike of 30 yuan/ton. This is the company's third price hike letter since July 1 and July 10, with the reason still being "increased operating costs." Chongqing ND PAPER will increase the price of corrugated paper by 30 yuan/ton from July 18, Dongguan ND PAPER will increase the price of recycled linerboard by 30 yuan/ton from July 23, and Tianjin/Hebei ND PAPER will hike the price of recycled linerboard by 30 yuan/ton from July 23. Additionally, Taicang ND PAPER, Quanzhou ND PAPER will increase the price of recycled linerboard by 30 yuan/ton from July 23, and Leshan ND PAPER will raise the price of corrugated paper by 30 yuan/ton from July 22.

Apart from ND PAPER, another leading company in the packaging paper industry, Shanying International, also issued a price hike letter stating that to alleviate the operational pressure brought about by increased costs, from July 24, bases in Zhejiang/Anhui/Central China/Guangdong will increase the price of T-paper by 30 yuan/ton, and the base in Fujian will increase the price of Redwood II by 30 yuan/ton.

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