Soft commodities · K-PULP

Pulp price

Pulp currently trades at US$4,918 per tonne (≈ €4,183 · £3,665) — 11.51% below the 12-month high. Over the past 12 months it has lost 9.70%, with the annual range running from US$4,642 to US$5,558. 24-hour movement is minimal (±0.00%).

US$4,918 / tonne
≈ €4,183 ≈ £3,665 Unchanged 24h 30% within the 52-week range
FX Editorial Team · Data updated: · Editorially verified
Pulp (K-PULP) price today US$4,918 / tonne, ↑ +0.00% (24h)

Pulp chart

Interactive chart and 30-day overview

7 days
▼ −3.34%
−US$170.00
30 days
▼ −4.32%
−US$222.00
1 year
▼ −9.70%
−US$528.00
52-week range
US$4,642 30% US$5,558
Pulp (K-PULP) 30-day price chart — USD, EUR, GBP

The Pulp chart shows how the pulp price has moved over time. The interactive view lets you switch the timeframe (from 7 days up to MAX), the currency (USD / EUR / GBP) and overlay moving averages. Click any two points to measure the percentage change between those dates.

How is pulp priced?

Pulp is priced per metric tonne (1 t = 1,000 kg) — the standard unit for industrial and bulk commodities on the London Metal Exchange (LME), CME and major European exchanges. Wholesale shipments move in containers or bulk vessels, typically in 25-tonne or 100-tonne lots.

At US$4,918 per tonne, one kilogram is worth US$4.92. End-user pricing for processed goods includes refining margins, transport and tariffs on top of the wholesale benchmark.

What drives the price of pulp?

The main demand factor in the pulp market is Chinese consumption. China accounts for roughly 40% of global market-pulp imports. A domestic fibre deficit — China does not have enough softwood plantations to meet its own needs — is covered by seaborne imports of NBSK and BEK (Bleached Eucalyptus Kraft, eucalyptus-based hardwood pulp). Chinese demand is especially strong in two segments: tissue paper and packaging paper (kraftliner, fluting). Growth in tissue consumption is driven by the expansion of the middle class and higher per-capita use of household paper towels, tissues and toilet paper. Per-capita tissue consumption in China remains well below North American and western European levels, leaving room for structural catch-up. Packaging-paper demand is tied to volumes in e-commerce logistics (Alibaba, JD.com, Pinduoduo) and also correlates with global container-shipping traffic. The market is tracked through weekly USD-per-tonne CIF China assessments from Fastmarkets RISI and Argus, as well as the yuan-denominated SP contract on the Shanghai Futures Exchange (SHFE).

On the supply side, the market is shaped by access to Canadian and Scandinavian softwood logs. Global market-pulp output is roughly 70 million tonnes a year. Within that, Brazil is the largest producer, at about 25 million tonnes a year, mostly eucalyptus-based BEK rather than NBSK. Canada, at about 10 million tonnes a year, is the benchmark producer in the NBSK segment. Finland and Sweden, each at around 5–5 million tonnes, are the main sources of European NBSK supply. Among North American companies, Canfor Pulp Products, West Fraser and Domtar are the most significant. On the Scandinavian side, UPM-Kymmene (UPM.HE), Stora Enso (STERV.HE) and Metsä Fibre dominate. The market is often sensitive to wildfires in British Columbia and to pulp-mill closures in the province, which have structurally tightened NBSK supply.

The third structural factor is the competition between virgin fibre and recovered fibre. A large share of global paper production is now made from recovered paper — Old Corrugated Containers (OCC), Old Newsprint (ONP) and Mixed Office Waste — bought by paper mills in China, Europe and North America. When OCC prices rise, for example because of stricter Chinese waste-import rules or lower recovered-paper collection, fresh NBSK pulp becomes more competitive in relative terms, and tissue and kraftliner producers increase the share of virgin fibre in their fibre mix. In the tissue segment (toilet paper, paper towels), virgin fibre dominates. Tissue made with recycled fibre tends to have lower softness and bulk than tissue made from virgin fibre. The market is followed through Pöyry — now AFRY — Pulp Market reports and annual statistics from the EU Confederation of European Paper Industries (CEPI). Core industry data points are published quarterly.

How to invest in pulp

Holding physical pulp is not practical for retail investors. Market NBSK is an industrial raw material that needs climate-controlled storage and a B2B logistics chain. A European retail investor can get pulp exposure in three main ways: through pulp CFDs, which on some platforms track the SHFE Pulp contract directly under the PULP ticker, although this CFD is not available at every retail broker; through integrated pulp and paper companies, including Brazil’s Suzano — SUZ, the world’s largest market-pulp producer, Europe’s UPM-Kymmene — UPM.HE and Stora Enso — STERV.HE, and North America’s Mercer International and Canfor Pulp; and indirectly through shares in packaging and tissue-product manufacturers such as Kimberly-Clark, Essity and Mondi. Two regulated brokers with English-language platforms where pulp and paper industry shares are available are:

30-day price history

Chart and daily closing prices

Pulp (K-PULP) 30-day price chart — USD, EUR, GBP

Daily close

30 trading days

Date Price (USD) Price (EUR) Price (GBP) Daily change
22 May 2026 US$4,918 €4,183 £3,665 ▼ −1.09%
21 May 2026 US$4,972 €4,229 £3,706 ▼ −1.04%
20 May 2026 US$5,024 €4,273 £3,744 ▼ −0.59%
19 May 2026 US$5,054 €4,298 £3,767 ▲ +0.20%
18 May 2026 US$5,044 €4,290 £3,759 ▼ −0.86%
15 May 2026 US$5,088 €4,327 £3,792 ▼ −0.90%
14 May 2026 US$5,134 €4,366 £3,826 ▼ −0.12%
13 May 2026 US$5,140 €4,371 £3,831 ▲ +0.08%
12 May 2026 US$5,136 €4,368 £3,828 ▲ +0.59%
11 May 2026 US$5,106 €4,342 £3,806 ▲ +0.75%
10 May 2026 US$5,068 €4,310 £3,777 ▼ −0.43%
6 May 2026 US$5,090 €4,329 £3,794 ▲ +0.63%
30 Apr 2026 US$5,058 €4,302 £3,770 ▲ +0.36%
29 Apr 2026 US$5,040 €4,286 £3,756 ▼ −0.59%
27 Apr 2026 US$5,070 €4,312 £3,779 ▼ −0.28%
25 Apr 2026 US$5,084 €4,324 £3,789 ▼ −1.09%
22 Apr 2026 US$5,140 €4,371 £3,831 ▼ −0.19%
21 Apr 2026 US$5,150 €4,380 £3,838 ▲ +0.78%
20 Apr 2026 US$5,110 €4,346 £3,808 —

Pulp FAQ

Why is pulp priced by the tonne? +
Market pulp is an industrial bulk raw material. Global trade is conducted in air-dry metric tonnes (ADMT), typically quoted in USD per metric tonne. The weekly Fastmarkets RISI benchmark assessment is quoted on a CIF China basis, meaning delivered to a Chinese port, while the European FOEX price refers to the European end-user market. The Shanghai Futures Exchange (SHFE) Pulp contract, ticker SP, is quoted in Chinese yuan per tonne and has a contract size of 10 tonnes. In European converter and paper-mill procurement, pulp prices often appear in euro per tonne, with currency and freight premia relative to global USD benchmarks.
What is the difference between NBSK and BEK pulp? +
Both are market pulp, but they are made from different feedstocks and serve different end markets. NBSK — Northern Bleached Softwood Kraft — is made from northern softwood such as Canadian and Scandinavian spruce, fir and pine. It is a long-fibre, high-tensile-strength pulp used in white writing and printing paper as well as high-quality tissue. BEK — Bleached Eucalyptus Kraft — is hardwood pulp made from Brazilian eucalyptus plantations. It is short-fibre pulp with a finer surface and is especially favoured in tissue products such as toilet paper and paper towels. A normal spread exists between the two grades. NBSK has historically traded at a premium to BEK because its longer fibre provides a strength advantage. The centre of gravity in global pulp production has shifted towards BEK in recent decades because of capacity growth in Brazilian plantations.
How many tonnes of softwood logs are needed to produce one tonne of pulp? +
As an industry average, producing 1 tonne of NBSK market pulp requires roughly 2.2 tonnes of Canadian or Scandinavian softwood logs. Much of the difference comes from lignin, the binding material in wood, removed during kraft cooking, as well as debarking losses. Pulp mills recover lignin as black liquor and burn it as an internal energy source. This explains why Canadian and Scandinavian softwood-log supply is the critical supply variable. Wildfires in British Columbia, damage from the mountain pine beetle and pulp-mill closures in BC have structurally tightened available fibre capacity and are priced directly into NBSK assessments.
Why does China dominate market-pulp demand? +
China accounts for roughly 40% of global market-pulp imports, making it the world’s largest import market. The reason is that China does not have enough softwood forest resources to meet domestic fibre demand. Its paper industry relies heavily on seaborne imports of NBSK and BEK. Demand is especially strong in two segments: tissue paper, driven by the expansion of the middle class and higher per-capita consumption of toilet paper, paper towels and tissues; and packaging paper such as kraftliner and fluting, linked to the volume of e-commerce logistics at Alibaba, JD.com and Pinduoduo. Chinese per-capita tissue consumption remains below North American and western European levels, giving the market a structural demand base.
How does forest damage in British Columbia affect the pulp market? +
British Columbia has traditionally been one of the key sources of global NBSK supply. The province’s interior forests have been hit over recent decades by the mountain pine beetle (Dendroctonus ponderosae) and, more recently, by large-scale wildfires. Together, these have structurally reduced the supply of harvestable softwood logs. Several pulp mills and sawmills have closed in the province, while Canfor Pulp Products, West Fraser and other companies have cut capacity. The process is structurally reducing Canadian supply capacity, and statistics from the Natural Resources Canada Forest Sector show that the centre of gravity in Canadian softwood-pulp production is shifting eastwards towards Québec. In Fastmarkets RISI weekly assessments, the NBSK premium tends to react sharply to these supply shocks.
How large is global market-pulp production and who are the biggest producers? +
Global market-pulp output is roughly 70 million tonnes a year. Brazil, at about 25 million tonnes a year, is the largest producer, overwhelmingly in eucalyptus-based BEK rather than NBSK. The market leader is Suzano (SUZ), alongside Klabin. Canada, at about 10 million tonnes a year, is the benchmark NBSK producer, with Canfor Pulp Products, West Fraser and Domtar as major companies. Finland and Sweden, each with around 5–5 million tonnes of production, are the centre of European NBSK supply. The main companies there are UPM-Kymmene (UPM.HE), Stora Enso (STERV.HE) and Metsä Fibre. Indonesia is represented by Asia Pulp & Paper and APRIL, mainly in short-fibre tropical hardwood pulp.
What is the spread between virgin fibre and recovered fibre? +
A large share of global paper production is now made from recovered paper — Old Corrugated Containers (OCC), Old Newsprint (ONP) and Mixed Office Waste — bought by paper mills in China, Europe and North America. When the OCC price rises, for example because of stricter Chinese waste-import rules or lower recovered-paper collection, fresh NBSK pulp becomes more competitive in relative terms, and tissue and kraftliner producers increase the share of virgin fibre in their fibre mix. In the tissue segment — toilet paper, paper towels and tissues — virgin fibre dominates. Tissue containing recycled fibre tends to have lower softness and bulk than tissue made from virgin fibre, so tissue is a preferred end market for virgin pulp. In packaging paper, by contrast, recovered fibre dominates, while fresh kraftliner is used mainly in applications that need high tensile strength, such as heavy boxes and export packaging.
How can a retail investor access the pulp market in Europe or the UK? +
There are three practical routes for a retail investor. First, some brokers offer a pulp CFD that tracks the SHFE Pulp contract under the PULP ticker. It can be traded long or short and is a leveraged product, but it is not available on every retail platform. Second, investors can use integrated pulp and paper shares: Brazil’s Suzano (SUZ) is the world’s largest market-pulp producer; in Europe, UPM-Kymmene (UPM.HE) and Stora Enso (STERV.HE) trade in Helsinki; in North America, relevant names include Mercer International and Canfor Pulp. Third, there is indirect exposure through end-user companies, including the tissue segment (Kimberly-Clark, Essity) and packaging (Mondi). Tax treatment varies by jurisdiction; consult a local tax adviser.

More soft commodities

Arabica coffee
US$2.68
pound
Sugar (US)
US$14.68
pound
Cocoa
US$3,817
tonne
Cotton
US$0.7800
pound
Data sources: Shanghai Futures Exchange — Pulp Futures (SP) · Fastmarkets RISI — Pulp & Paper Price Indices · AFRY (formerly Pöyry) — Pulp & Paper Market Reports · Confederation of European Paper Industries (CEPI)