Pulp & Paper Monthly Tracker — September 2026

Equity Research 21 September 2026 | 12:02PM BRT

Monthly Tracker — September 2026

This monthly report includes charts and tables with key global data points for the Marcio Farid | pulp and paper sector. We track information from different data providers for both Goldman Sachs do Brasil CTVM S.A. up- and downstream products across the supply chain, including inventories, Henrique Marques production, apparent consumption and prices. | Goldman Sachs do Brasil CTVM S.A. Key highlights of the month: Emerson Vieira | n Chinese pulp prices were flattish in August. Hardwood prices declined 1% m/m, Goldman Sachs do Brasil CTVM S.A. while softwood prices increased 1% m/m. Re-sale prices were up 5% for hardwood while remaining stable for softwood. n In Europe, both hardwood and softwood prices declined m/m (-3% and -1% for hardwood and softwood respectively). n During August, China paper prices remained broadly unchanged on a monthly basis, although most grades saw margin expansion. Compared to their 5yr historical average, all margins remain in negative territory, with Ivoryboard, CWF, UWF, and tissue at -13%/-6%/-1%/-6% below historical avg. n In Europe, Kraftliner prices rose 2% m/m while the other grades remained stable. n China pulp inventories at the ports increased 3% m/m in August, reaching 2.3mt, still above the 5yr historical avg. of 1.9mt. n In June, inventories at European ports saw a decline of 10% m/m to reach 1.20mt, below historical avg of 1.35mt.

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