Price-Watch’s most active coverage of Grey Back Duplex Board price assessment:
Asia-Pacific
- Grey Back Duplex Board 250-280 GSM HWC Bulk (1.24-1.28) Ex-Coimbatore, India
- Grey Back Duplex Board 250-280 GSM HWC Bulk (1.24-1.28) Ex-Morbi, India
- Grey Back Duplex Board 250-280 GSM HWC Bulk (1.24-1.28) Ex-North India, India
- Grey Back Duplex Board 250-280 GSM LWC Bulk (1.22-1.25) Ex-Coimbatore, India
- Grey Back Duplex Board 250-280 GSM LWC Bulk (1.22-1.25) Ex-Morbi, India
- Grey Back Duplex Board 250-280 GSM LWC Bulk (1.22-1.25) Ex-North India, India
- Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27) Ex- North India, India
- Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27) Ex-Coimbatore, India
- Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27) Ex-Morbi, India
- Grey Back Duplex Board 230-250 GSM HWC FOB Qingdao, China
- Grey Back Duplex Board 285-400 GSM HWC FOB Qingdao, China
- Grey Back Duplex Board 250-280 GSM HWC Bulk (1.24-1.28) FOB Mundra, India
- Grey Back Duplex Board 250-280 GSM LWC Bulk (1.22-1.25) FOB Mundra, India
- Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27) FOB Mundra, India
- Grey Back Duplex Board 230-250 GSM CIF Haiphong (China), Vietnam
- Grey Back Duplex Board 230-250 GSM CIF Jakarta (China), Indonesia
- Grey Back Duplex Board 230-250 GSM CIF Port Chittagong (China), Bangladesh
- Grey Back Duplex Board 230-250 GSM CIF Port Kelang (China), Malaysia
- Grey Back Duplex Board 285-400 GSM CIF Haiphong (China), Vietnam
- Grey Back Duplex Board 285-400 GSM CIF Jakarta (China), Indonesia
- Grey Back Duplex Board 285-400 GSM CIF Port Chittagong (China), Bangladesh
- Grey Back Duplex Board 285-400 GSM CIF Port Kelang (China), Malaysia
Europe
- Grey Back Duplex Board 250-280 GSM HWC Bulk (1.24-1.28) CIF Southampton (India), United Kingdom
- Grey Back Duplex Board 250-280 GSM LWC Bulk (1.22-1.25) CIF Southampton (India), United Kingdom
- Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27) CIF Southampton (India), United Kingdom
North America
- Grey Back Duplex Board 250-280 GSM HWC Bulk (1.24-1.28) CIF Houston (India), USA
- Grey Back Duplex Board 250-280 GSM LWC Bulk (1.22-1.25) CIF Houston (India), USA
- Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27) CIF Houston (India), USA
Middle East
- Grey Back Duplex Board 250-280 GSM HWC Bulk (1.24-1.28) CIF Jebel Ali (India), United Arab Emirates
- Grey Back Duplex Board 250-280 GSM LWC Bulk (1.22-1.25) CIF Jebel Ali (India), United Arab Emirates
- Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27) CIF Jebel Ali (India), United Arab Emirates
Note: In assessments structured as CIF [Importing Port] (Exporting Country), the country mentioned in brackets indicates the primary origin of supply (exporting country), while the named port refers to the destination port in the importing country. Other Incoterms (FOB, FD, EXW, etc.) should be interpreted in accordance with standard international trade definitions.
Grey Back Duplex Board Price Trend Q4 2025
In Q4 2025, the Grey Back Duplex Board market has been maintaining price stability, with the quarterly average remaining unchanged compared with Q3 2025. The sector has been experiencing steady demand as packaging converters have been actively supplying materials for the peak holiday retail season. End-use sectors including food and confectionery packaging, gift boxes, cosmetics cartons, and electronics packaging have been maintaining consistent production activity to support year-end consumer demand.
Feedstock markets, particularly recovered paper, have been remaining relatively stable, providing minimal cost fluctuations for producers. Operating rates across many paper mills have been continuing at balanced levels as manufacturers have been aligning supply with the steady demand environment. Export trading activity has been remaining moderate, with suppliers focusing on fulfilling contractual shipments and maintaining competitive positioning in global markets.
Seasonal consumption patterns associated with holiday retail promotions and festive demand have been supporting steady packaging requirements throughout the quarter. Overall, the market has been sustaining a stable tone, with balanced supply-demand dynamics resulting in unchanged pricing compared with the previous quarter.
India: Grey Back Duplex Board export Prices FOB Mundra, India; Grade- Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27)
In Q4 2025, Grey Back Duplex Board export prices has been continuing to experience a gradual strengthening trend, marking a 1.5% increase compared with Q3 2025. Throughout the quarter, export trading activity has been benefiting from strong seasonal demand linked to global holiday retail consumption.
Downstream sectors including gift packaging cartons, confectionery boxes, cosmetics packaging, electronics cartons, and food packaging have been maintaining high production levels to support year-end consumer demand across several international markets. The continued rise in prices has been supported by stable to slightly firm recovered paper feedstock costs, steady mill operating rates, and consistent export inquiries from major importing regions.
Indian exporters have been maintaining competitive supply availability while securing long-term orders from packaging converters. Seasonal procurement cycles associated with festive retail promotions have been sustaining steady export shipments throughout the quarter. Overall, the market has been reflecting a balanced yet positive trading environment, with improving demand and steady supply conditions contributing to the price increase compared with the previous quarter. On a monthly basis, prices has been decreasing by 1% in December 2025 compared to November 2025.
China: Grey Back Duplex Board export Prices FOB Qingdao, China; Grade- Grey Back Duplex Board 285-400 GSM HWC
In Q4 2025, the Grey Back Duplex Board prices in China has been maintaining a stable trend, with prices remaining unchanged compared with Q3 2025. Throughout the quarter, export trading conditions have been reflecting balanced supply and demand as shipments from Chinese producers have been moving steadily through FOB Qingdao while overseas buyers have been maintaining measured procurement strategies.
Demand from downstream sectors such as FMCG cartons, food and confectionery packaging, electronics cartons, cosmetics packaging, and gift packaging has been remaining stable due to the seasonal rise in global retail and consumer goods demand during the year-end holiday period. However, the absence of a significant price increase has been influenced by sufficient supply availability and competitive export offers from regional suppliers in Asia.
Operating rates across several paper mills have been continuing at balanced levels to avoid excess inventory accumulation while maintaining steady export shipments. On a month-on-month basis, December has declined by nearly 2% compared with November 2025 as procurement activity has slowed toward the end of the year. Overall, the market has been reflecting a stable export environment supported by balanced demand and adequate supply conditions.
Indonesia: Grey Back Duplex Board Imported Price CIF Jakarta, Indonesia from China; Grade- Grey Back Duplex Board 285-400 GSM
In Q4 2025, the Grey Back Duplex Board prices in Indonesia has been maintaining a largely stable trend, with prices increasing marginally by 0.1% compared with Q3 2025. Throughout the quarter, the market has been experiencing balanced trading conditions as import shipments from China and India have been continuing to arrive consistently, ensuring stable supply availability across the domestic packaging industry.
Downstream demand from sectors such as FMCG cartons, food and confectionery packaging, electronics packaging, cigarette cartons, and cosmetics packaging has been remaining steady as manufacturers have been producing goods to meet seasonal retail consumption during the year-end holiday period.
Packaging converters have been continuing to follow measured procurement strategies, purchasing mainly to fulfill immediate production requirements rather than building significant inventories. On a month-on-month basis, In December 2025, prices have been declining by 1% compared with November 2025. Overall, the market has been reflecting a stable to neutral sentiment supported by consistent import supply and steady downstream packaging demand.
Malaysia: Grey Back Duplex Board Imported Price CIF Kelang, Malaysia from China; Grade- Grey Back Duplex Board 285-400 GSM
In Q4 2025, the Grey Back Duplex Board prices in Malaysia has been maintaining a largely stable trend, with prices increasing slightly by 0.2% compared with Q3 2025. Throughout the quarter, market conditions have been reflecting balanced supply and demand dynamics as import shipments from major suppliers, particularly India and China, have been arriving consistently and ensuring sufficient availability in the domestic market.
Downstream demand from industries such as FMCG cartons, food and confectionery packaging, cosmetics cartons, electronics packaging, and gift packaging has been remaining stable due to the seasonal increase in retail and consumer goods consumption during the year-end holiday period. Packaging converters have been continuing to follow cautious procurement strategies, focusing primarily on meeting immediate production requirements rather than building large inventories.
Feedstock markets in exporting countries, particularly recovered paper and pulp, have been remaining stable, resulting in minimal production cost pressure on suppliers. On a month-on-month basis, December has declined by around 2% compared with November as procurement activity has slowed toward the end of the holiday season. Overall, the market has been reflecting a stable to slightly firm environment supported by consistent supply flows and steady downstream packaging demand.
United Kingdom: Grey Back Duplex Board Imported Price CIF Southampton, United Kingdom from India; Grade- Grey Back Duplex Board 285-400 GSM
In Q4 2025, the Grey Back Duplex Board prices in the United Kingdom has been experiencing a pronounced price escalation, with prices rising by 11.1% compared with Q3 2025. This upward movement has been largely driven by heightened procurement from packaging converters and brand owners preparing for peak seasonal consumption during the year-end retail period. Demand from industries such as food and confectionery packaging, cosmetics cartons, electronics packaging, and gift boxes has been intensifying as retailers have been ramping up product distribution across supermarkets and e-commerce channels.
Import flows from Asia have been continuing however, stronger export offers, tightening global supply availability, and increased logistics expenses have been contributing to higher landed prices in the UK market. Feedstock dynamics in exporting countries, particularly related to recovered paper and pulp markets, have been remaining firm, which has been pushing production costs slightly higher.
Seasonal demand associated with holiday retail promotions and packaging requirements has been playing a key role in supporting this price surge. On monthly basis, December 2025 prices have been declining by 5% compared with November 2025. Overall, the market has been reflecting strong bullish momentum influenced by peak seasonal demand and elevated import costs.
USA: Grey Back Duplex Board Imported Price CIF Houston, USA from India; Grade- Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27)
In Q4 2025, the Grey Back Duplex Board prices in the United States has been experiencing a notable decline, with prices decreasing by 5.5 percent compared with Q3 2025. Throughout the quarter, importers and converters have been moderating purchases as inventories built up in previous months have been sufficient to cover production needs.
Downstream sectors such as food packaging, pharmaceutical cartons, and e-commerce shipping boxes have been continuing production, but procurement activity has been slowing as seasonal consumption has been moderating after the peak holiday period. Import shipments from Asia have been arriving consistently, while competitive offers and stable feedstock costs, especially recovered paper, have been applying downward pressure on prices.
On a month-on-month basis, December 2025 has been declining by 3% compared with November 2025. Overall, the market has been reflecting a softer and more cautious sentiment, driven by adequate supply, controlled inventories, and moderated downstream demand.
United Arab Emirates: Grey Back Duplex Board Imported Price CIF Jabel Ali, United Arab Emirates from India; Grade- Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27)
In Q4 2025, the Grey Back Duplex Board prices in the United Arab Emirates has been strengthening, with prices increasing by 3.5% compared with Q3 2025. Throughout the quarter, importers and converters have been gradually expanding purchases to meet rising seasonal demand linked to the year-end retail period and festive packaging requirements.
Downstream sectors including FMCG cartons, food packaging, gift and confectionery boxes, and cosmetics cartons have been maintaining active production schedules, which has been supporting import activity. Import shipments from India, China, and Southeast Asia have been continuing to arrive reliably at Jebel Ali, while feedstock costs such as recovered paper and pulp have been remaining stable, contributing to steady supply conditions.
Seasonal demand for holiday promotions and retail packaging has been encouraging converters to adjust procurement gradually. On a month-on-month basis, December 2025 has been declining by 4% compared with November 2025. Overall, the market has been reflecting a slightly firm trend driven by rising seasonal consumption and consistent import availability.
Bangladesh: Grey Back Duplex Board Imported Price CIF Chittagong, Bangladesh from China; Grade- Grey Back Duplex Board 285-400 GSM
In Q4 2025, the Grey Back Duplex Board prices in Bangladesh has been softening, with prices decreasing by 3.5% compared with Q3 2025. During the quarter, importers and converters have been moderating procurement as downstream demand from FMCG, food packaging, and retail sectors has been easing after the pre-festive surge.
Supply shipments from India, China, and Southeast Asia have been arriving reliably at Chittagong, but buyers have been cautious in purchasing to avoid excess inventory. Feedstock prices in exporting countries, particularly recovered paper and pulp, have been remaining stable, limiting sudden cost fluctuations. Seasonal activity from retail and consumer goods packaging has been stabilizing, reducing urgency in import orders.
On a month-on-month basis, December 2025 has been declining by 3% compared with November 2025. Overall, the market has been reflecting a softening trend influenced by controlled buying behaviour and steady but moderated downstream demand.
Vietnam: Grey Back Duplex Board Imported Price CIF Haiphong, Vietnam from China; Grade- Grey Back Duplex Board 285-400 GSM
In Q4 2025, the Grey Back Duplex Board prices in Vietnam has been experiencing a moderate softening trend, with prices decreasing by 3.5% compared with Q3 2025. During the quarter, importers and converters have been reducing fresh purchases as downstream demand from FMCG, food packaging, cosmetics, and retail display sectors has been slowing after the pre-festive stock buildup.
Shipments from India, China, and Southeast Asia have been arriving steadily at Haiphong, but buyers have been prioritizing short-term inventory coverage rather than large orders. Feedstock costs in exporting countries, particularly recovered paper and pulp, have been remaining stable, limiting major fluctuations in import offers.
Seasonal consumption has been adjusting after early festive preparation, and converters have been focusing on optimizing production without overstocking. On a month-on-month basis, December 2025 has been declining by 2% compared with November 2025. Overall, the market has been reflecting a softer and cautious trend, driven by moderated downstream demand and controlled procurement activity.



