Suzano announced an increase in pulp prices in May. European nominal prices have reached a record high

Suzano announced a new round of price increases for wood pulp in all regions starting in May. Due to strong demand for raw materials and supply issues in different markets, the adjustment range is between US$30 and US$80 per ton.

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

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

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