Suzano Raises May Pulp Prices; European Rates Hit Peak

Suzano announced a new round of price increases for eucalyptus pulp prices in all regions starting in May. Adjustments range from US$30 to US$80 per ton due to strong demand for raw materials in different markets and supply issues.

In the Asian market, the main export destination, the increase was US$30 per ton. Taking into account spot prices, Chinese pulp prices may reach US$740/ton in May.

For Europe, the adjustment range is US$60/ton, and the pulp reference price in May will be increased to US$1,440/ton, which is the highest nominal price ever recorded in the European market.

In North America, the price has been adjusted to US$80/ton, and the pulp reference price is expected to rise to US$1,670/ton.

In an interview with Valor Econômico, Suzano Pulp Business Director Leonardo Grimaldi said instability caused by rebels in the Red Sea, strikes at Finnish ports and unexpected closures had led to higher ocean freight rates. Significant increases in costs at factories and lower-than-normal inventories have supported rising commodity prices, which have been recalibrated on a monthly basis into 2024.

This is the fifth price adjustment announced by several Brazilian pulp producers in 2024, including Suzano.