In Q1 2025, BHK prices in China saw a slight recovery, increasing to USD 604/MT, up 3.78% from the previous quarter. This modest rise was supported by a gradual pickup in domestic paper production as operations resumed after the Lunar New Year. Improved purchasing from converters in Southeast Asia and moderate restocking by local mills also helped support the rebound. Additionally, a reduction in new supply from a few Chinese producers balancing production volumes helped ease some of the pricing pressure seen in late 2024.
In Q4 2024, the BHK market in China continued its downward trend, with prices dropping to USD 582/MT, a 9.77% decline from Q3. A key reason for the price drop was aggressive year-end destocking by traders and mills, who aimed to clear inventories before closing books. The continued slowdown in the global packaging industry, especially in Europe, reduced export demand. Meanwhile, falling energy and transportation costs also allowed suppliers to offer more competitive pricing, further dragging the market down.
In Q3 2024, BHK prices in China fell sharply to USD 645/MT, marking an 11.52% decline from the previous quarter. The main reasons for this downturn were the return of steady production from domestic mills, which led to abundant supply in the market. Weaker global pulp prices also added pressure, especially as international buyers reduced their intake due to high inventories. Additionally, softer demand from the pharmaceutical and publishing sectors made mills more cautious with procurement, contributing to the overall bearish tone.
In Q2 2024, the BHK market in China saw a strong recovery, with prices rising to USD 729/MT, showing a 10.62% increase from Q1. This price jump was largely driven by a rebound in demand from the paperboard and tissue sectors, especially as downstream converters prepared for mid-year packaging requirements. On top of that, higher shipping costs caused by vessel delays and route changes led to tighter availability of imported pulp. Some domestic mills also slowed output temporarily for maintenance, reducing supply and helping support the upward pricing trend.
In Q1 2024, BHK prices in China declined to USD 659/MT, down by 3.23% compared to the previous quarter. This drop was mainly due to lower demand from the domestic packaging and printing industries following the Lunar New Year holiday, as many mills operated at reduced capacity. In addition, an abundant supply of BHK from newly expanded Chinese pulp lines created stock pressure in the local market. Sluggish export interest, especially from buyers in Southeast Asia, also added to the softness in pricing during the quarter.
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Molecular Weight[g/mol]
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Molecular Formula
Bleached Hardwood Kraft (BHK) is a type of chemical pulp made from hardwood trees such as eucalyptus, birch, and aspen. It is produced using the kraft process and then bleached to achieve a high level of brightness and purity. BHK is known for its short fiber length, good bulk, smooth surface, and excellent printability, making it ideal for a variety of paper products.
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Incoterms Used
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PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
DESCRIPTION | ||||
Iso Brightness | % | 89.8 ± 1.2 | ||
*TAPPI DIRT COUNT (based on TAPPI) Includes all particles >=0.1mm |
PPM | 0.6 ± 0.6 | ||
Air Dry | % | 90.0 ± 2.4 | ||
Initial Freeness | (°SR) | 28 ± 8 | CSF (ml) | 451 ± 102 |
Initial Tear | mN.m^2 /g | 9.4 ± 6.3 | 100g_{f} .m^2 /g | 95 ± 64 |
Initial Tensile | m | 4790 ± 970 | ||
Initial Burst Factor | kPa m/g | 2.5 ± 1.5 | (g_{f} .cm^{ )/(g/m^2 ) | 25 ± 10 |
Initial Bulk | Cm^3 /g | 1.7 ± 0.1 | ||
pH | 6.5 – 8.5 | |||
Length Weighted Average Fibre Length | mm | 0.92 ± 0.18 | ||
Length Weighted Average Fines | % | 4.33 ± 1.38 |
Applications
BHK pulp is widely used in the paper and packaging industry for manufacturing high-quality printing and writing papers, premium tissue products (such as facial tissues and toilet paper), and various types of paperboard and carton boards. Its smoothness and opacity make it ideal for specialty papers, including cigarette papers, banknotes, and filter papers. BHK pulp is also favored in the production of sustainable and biodegradable packaging materials, supporting the growing demand for eco-friendly solutions in the packaging sector. Its fiber properties contribute to the softness, absorbency, and printability required in both consumer and industrial paper products.
BHK pulp prices are shaped by a range of global and regional factors. The primary drivers include the cost and availability of hardwood raw materials like eucalyptus and acacia, energy and chemical costs (such as caustic soda and chlorine dioxide), and logistics expenses. Additionally, supply-demand balance, mill maintenance shutdowns, global paper demand (especially in packaging, tissue, and printing sectors), and environmental regulations around sustainable forestry practices also significantly impact pricing. Monitoring these variables helps procurement heads forecast cost trends and manage purchasing strategies effectively.
Supply chain disruptions—such as port congestion, container shortages, or transportation strikes—can lead to delayed shipments and constrained availability of BHK pulp in key markets. These issues often result in sharp price increases due to tighter supply. Moreover, geopolitical tensions or environmental events (like floods or droughts in key producing regions such as Brazil or Southeast Asia) can impact raw material harvesting or pulp mill operations. Procurement leaders should proactively track these risks and consider building strategic inventories or sourcing from multiple regions to mitigate price volatility.
BHK pulp prices differ across regions due to factors like local raw material supply, production capacity, transportation costs, and import/export duties. For instance, South America—especially Brazil—is known for competitive BHK pricing due to abundant eucalyptus plantations and high production efficiency. Meanwhile, prices in Europe or North America may be higher due to stricter environmental regulations and higher labor or logistics costs. Procurement teams can benefit by diversifying their sourcing base, evaluating landed cost comparisons, and leveraging regional market insights to optimize procurement strategies and control input costs.
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