CICC Paper Industry Outlook 2026: Integrated Pulp and Paper Leader Expected to Continue to Earn Excess Profits

CICC released the outlook for the paper industry in 2026, stating that consumer demand is still in a mild recovery phase. The supply and demand of various types of paper varies: the supply and demand of pulp paper are still loose, with pulp prices becoming a key driver for industry destocking and destocking, integrated pulp and paper leading companies are expected to continue to achieve excess profits; the capacity of container board and corrugated paper has basically been phased out, and it is expected to be the first to emerge from this round of supply and demand imbalance cycle, ushering in capacity utilization rate recovery, and a performance recovery market where tonne paper prices increase.