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Paper manufacturers to hike printing paper prices by 7 pct next month
Write 한솔제지 Date 2018-07-06

South Korea’s paper companies decided to raise printing paper prices by seven percent starting next month. Printing paper is used to publish books and commercial handouts

Local paper manufacturersdecision to hike the paper prices came as raw material prices have been on the rise this year including paper pulp and latex and demand for paper is expected to sharply surge during the major election campaign period.

Korea’s major paper companies such as Hansol Paper, Moorim Paper and Hankuk Paper informed publishing and advertising businesses that they will raise printing paper prices by seven percent, citing an increase in international pulp prices, according to sources of the paper industry Thursday.

Pulp prices, which account for almost half of paper manufacturing costs, have been climbing from January this year after hitting the mid-500 dollar per ton (t) in December last year,” a source in the industry said. “A price hike is unavoidable”.

Prices of hardwood pulp, the most common raw material for producing paper, fell to $555 per t in December last year and rallied this year. Pulp prices gained approximately nine percent for the past two months to record $605 per t in February.

In addition, prices of latex, a petrochemical product used as a glue for pulp, almost doubled from $1,733 per t in November last year to $3,300 in February due largely to higher oil prices fueling a hike in paper prices.

Increasing paper demands for political campaign flyers ahead of two major elections including general elections and presidential elections scheduled for April and December are also bolstering the price rise.

[Written by Yong-seong Choi - Haeun Bang / edited by Soyoung Chung]

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