再生纸市场的未来：全球趋势与机遇.pdf

1、12025|Fastmarkets|Outlook for Global RCP MarketsOutlook for Global Recovered Paper MarketsHannah ZhaoDirector,FiberFastmarketsNovember 20251China has begun a cycle of reducing woodchip imports,Agenda2Recent demand,supply and pricing dynamicsShifting recovered paper trade flowsFuture demand drivers23

2、2025|Fastmarkets|Outlook for Global RCP MarketsGlobal markets softened,significant risks ahead32025|Fastmarkets|Outlook for Global RCP Markets0501001502002503003502019202020212022202320242025European OCC,EUR/tonneUS average,USD/tonneAsian imported OCC,USD/tonneSource:Fastmarkets.05010015020025030035

3、0US domestic consumption of bulky grades fell again in 202542025|Fastmarkets|Outlook for Global RCP Markets051015202530Million tonnesUS consumption of OCC and mixed paperOCCMixed paper US OCC consumption dropped 2.4%year over year in the first 3 quarters of 2025 after growing 5.3%in 2024o Mixed pape

4、r consumption fell by 7.6%YoYo Sluggish paper packaging segment Recycled containerboard production dropped Capacity closures and extended downtimeOCC-2.4%MIX-7.6%YTD:January-Sep.US containerboard consumption fell back to late 2016 levels-2-1012345201720182019202020212022202320242025Cumulative growth

5、 for US containerboard cutup since 4Q16Million tons,annualizedSource:Fibre Box Association,AF&PA Fastmarkets Paper Packaging Monitor.5Cutup2Q252025|Fastmarkets|Outlook for Global RCP MarketsCutup has averaged below late 2016 level since 20223.7 million tons of net capacity closures in 2025Expected 4

6、.4%decline in containerboard production in 2025US RCP supply improved recently62025|Fastmarkets|Outlook for Global RCP Markets304050607080303234363840202020212022202320242025Imports of consumer goods,billion US dollars(right)Box shipments,billion square feet线性(Box shipments,billion square feet)Sourc