Global Pulp Price Trends: Key Drivers and Impact on Major Paper Grades

Introduction

The global pulp and paper industry continues to experience significant volatility in 2025. With ongoing fluctuations in NBSK and BHKP pulp prices, the market is shaped by energy costs, forest resource availability, and trade policies. This report summarizes the latest pulp price trends, market drivers, and the impact on major paper grades including FBB, coated art paper, kraft paper, and thermal paper.

1. Latest Global Pulp Price Trends (Monthly/Quarterly Overview)

According to recent market updates from Fastmarkets RISI and EUWID:

• BHKP prices in China have shown slight increases due to steady demand in packaging and specialty paper sectors.
• NBSK prices in Europe remain high, reflecting tight supply and elevated mill energy costs.
• South American producers, including Suzano, have announced price increases supported by strong export demand and low global inventories.

Overall, the global pulp market shows firm pricing with the possibility of further increases as supply constraints continue.

2. Key Market Drivers Affecting Pulp Prices

(1) Rising Energy and Chemical Costs

High natural gas and electricity prices, especially in Europe, have pushed production costs upward. Bleaching chemicals—such as caustic soda and hydrogen peroxide—also continue to rise, contributing to higher pulp production costs.

(2) Import Policies and Global Trade Regulations

China’s restrictions on recycled fiber imports increase reliance on virgin pulp.

Fluctuating freight rates and geopolitical instability affect pulp logistics and delivery cycles.

Southeast Asian countries continue to adjust import tariffs on pulp and paper products.

(3) Forest Resource Availability

Canada’s British Columbia region faces supply constraints due to wildfire damage.

Nordic countries enforce stricter forest management policies.

Brazil expands production capacity, increasing long-term global supply.

These factors combine to create uncertainty within the pulp supply and demand balance.

3. Impact of Pulp Prices on Major Paper Grades

FBB / Folding Box Board

FBB relies heavily on hardwood and softwood pulp. Rising pulp prices have resulted in upward pricing adjustments from major board mills. Demand remains strong in food, cosmetics, and pharmaceutical packaging.

Coated Art Paper (C2S / C1S)

The art paper market is sensitive to both pulp and coating chemicals. Increases in BHKP and latex prices raise production costs. Export pricing is further influenced by variable shipping rates.

Kraft Paper / Sack Kraft

Kraft paper depends on long-fiber softwood pulp. High NBSK prices, together with increased freight costs, support rising prices across sack kraft and packaging kraft grades.

Thermal Paper

Thermal paper production is affected by pulp price changes and the shift toward phenol-free thermal coatings. Higher raw material costs impact overall pricing, while demand remains stable for POS receipts, shipping labels, and logistics applications.

4. Market Outlook and Recommendations for Buyers in 2025

Expect ongoing pulp price fluctuations caused by energy costs and supply constraints.

Consider short-term pricing contracts (1–3 months) to manage cost stability.

Monitor updates from major pulp producers such as Suzano, UPM, and Södra.

Lightweight FBB and kraft options may reduce packaging costs.

Stay aware of global logistics trends, as freight prices directly affect the landed cost of paper products.

Conclusion

The global pulp price trend in 2025 is strongly shaped by energy markets, forest resource dynamics, and international trade policies. As pricing remains volatile, both paper manufacturers and global buyers should closely follow market developments and adjust procurement strategies accordingly. China Paper will continue providing reliable updates on pulp and paper market trends to support partners worldwide.