Paper Price Trends 2025 — What Buyers Should Watch

Here's our mid-year 2025 outlook on the paper trading market and what buyers should prepare for.

Kraft Paper (Virgin) Expect prices to hold firm through Q3 as North American mill capacity remains tight. USD 900-1,050/MT CIF Asia.

Kraft Liner Board & Test Liner Recovered fibre costs (OCC) are the swing factor. Watch OCC prices closely.

Duplex Board Stable to slightly lower. Chinese exports are ramping again.

OCC / Recovered Expected to rise 5-10% through Q4 2025 as recycled mill capacity expands in Asia.

Recommendation Regular importers should book Q4 orders by late Q3 to secure allocation.