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Canfor Pulp Products said on Thursday it expects record high global pulp producer inventories to continue, and pulp markets will “remain challenging.”
On continuing high inventories and weak demand:
Global softwood kraft pulp markets are anticipated to remain challenging through the third quarter of 2023, the company said, as record high global pulp producer inventory levels are projected to continue to be met with weak global pulp demand, particularly for paper and writing grades. As a direct result, with pulp mill inventories at capacity, the company curtailed its Northwood pulp mill in July for approximately one week, with an estimated 10,000 metric tons of reduced NBSK pulp production.
On the maintenance outage at Northwood plant and 3Q earnings:
Results in the third quarter are forecast to reflect a scheduled maintenance outage at Northwood in September, with a projected 25,000 metric tons of reduced NBSK pulp production, as well as higher associated maintenance costs and lower projected shipment volume.
Write to Matt Walker at [email protected]
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