In Q1, the cardboard market surged. Market leaders rolled out 6 intensive rounds of price hikes, stimulating market demand. As downstream packaging companies restocked, their inventory rose to a high level, and the cardboard price rose from RMB 4,693/mt in early 2021 to RMB 5,110/mt in March, an increase of 8.89%.
Because the market demand in March was overdrawn in previous months, the cardboard paper price barely trended sideways for 1 month before heading downwards. In early May, the price reached RMB 4,760/mt, down 6.84% from early March. However, as the destocking cycle completed, producers initiated another round of price hike attempts. As of late June, the market price climbed back to RMB 5,120/mt, up RMB 360/mt or 7.56% from early May.
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