Global Pulp Market 2025 — Prices, Trends & Forecast

The global market pulp industry entered 2025 with a rebound in prices after the 2023-24 destocking cycle. Here's where we see the market heading through H2 2025.

NBSK Prices (Northern Bleached Softwood Kraft) Spot NBSK to China rose from ~USD 620/MT in Q1 2024 to ~USD 800/MT in early 2025. European NBSK is currently trading around USD 1,300-1,400/MT delivered.

BHKP Prices (Bleached Hardwood Kraft, Eucalyptus) South American producers (Suzano, Klabin, Arauco) continue to dominate BHKP supply. BHKP prices are up ~15% YoY.

Demand Drivers - **Tissue growth** in India, Indonesia and MENA - **Packaging paper** demand from e-commerce - **Chinese destock** now finished — restocking pushing prices up - **Sustainability shift** — replacement of plastic with paper-based packaging

What Buyers Should Do 1. Lock in Q3/Q4 2025 contracts now if you're a regular importer 2. Diversify supply between Canadian NBSK and South American BHKP 3. Consider blended pulp furnishes to hedge price movements

NIKSO GLOBAL INC. supplies NBSK, SBSK, BHKP and BCTMP from Canadian and Latin American mills. Contact us for current spot quotes.