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Grey Back Duplex Board Price Trend and Forecast

⟳ Weekly Update
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Historical Data Since 2015
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Forecast for 2026
  • Commodity Pricing

grey back duplex board Price Trends by Country

vnVietnam
bdBangladesh
aeUnited Arab Emirates
usUnited States
gbUnited Kingdom
myMalaysia
idIndonesia
cnChina
inIndia

Global grey back duplex board Spot Market Prices, Trend Analysis and Forecast

Price Watch™ provides real-time price assessments and price forecasts for Grey Back Duplex Board across top trading regions:

Grey Back Duplex Board Regional Coverage Grey Back Duplex Board Grade and Country Coverage Grey Back Duplex Board Pricing Data Coverage Explanation
Asia Grey Back Duplex Board Pricing Analysis Grey Back Duplex Board 250-280 GSM HWC Bulk (1.24-1.28) Ex-Coimbatore, India Domestic Prices Weekly Price Update on Grey Back Duplex Board Real-Time Domestic Prices in Coimbatore, South India
Grey Back Duplex Board 250-280 GSM HWC Bulk (1.24-1.28) Ex-Morbi, India Domestic Prices Weekly Price Update on Grey Back Duplex Board Real-Time Domestic Prices in Morbi, West India
Grey Back Duplex Board 250-280 GSM HWC Bulk (1.24-1.28) Ex-North India, India Domestic Prices Weekly Price Update on Grey Back Duplex Board Real-Time Domestic Prices in North India
Grey Back Duplex Board 250-280 GSM LWC Bulk (1.22-1.25) Ex-Coimbatore, India Domestic Prices Weekly Price Update on Grey Back Duplex Board Real-Time Domestic Prices in Coimbatore, South India
Grey Back Duplex Board 250-280 GSM LWC Bulk (1.22-1.25) Ex-Morbi, India Domestic Prices Weekly Price Update on Grey Back Duplex Board Real-Time Domestic Prices in North India
Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27) Ex-North India, India Domestic Prices Weekly Price Update on Grey Back Duplex Board Real-Time Domestic Prices in North India
Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27) Ex-Coimbatore, India Domestic Prices Weekly Price Update on Grey Back Duplex Board Real-Time Domestic Prices in Coimbatore, South India
Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27) Ex-Morbi, India Domestic Prices Weekly Price Update on Grey Back Duplex Board Real-Time Domestic Prices in Morbi, West India
Grey Back Duplex Board 230-250 GSM HWC FOB Prices at Qingdao Port, China Weekly Price Update on Grey Back Duplex Board Real-Time Export Prices from Qingdao Port, China to Global Markets
Grey Back Duplex Board 285-400 GSM HWC FOB Prices at Qingdao Port, China Weekly Price Update on Grey Back Duplex Board Real-Time Export Prices from Qingdao Port, China to Global Markets
Grey Back Duplex Board 250-280 GSM HWC Bulk (1.24-1.28) FOB Prices at Mundra Port, West India, India Weekly Price Update on Grey Back Duplex Board Real-Time Export Prices from Mundra Port, West India, India to Global Markets
Grey Back Duplex Board 250-280 GSM LWC Bulk (1.22-1.25) FOB Prices at Mundra Port, West India, India Weekly Price Update on Grey Back Duplex Board Real-Time Export Prices from Mundra Port, West India, India to Global Markets
Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27) FOB Prices at Mundra Port, West India, India Weekly Price Update on Grey Back Duplex Board Real-Time Export Prices from Mundra Port, West India, India to Global Markets
Grey Back Duplex Board 230-250 GSM CIF Prices at Haiphong Port, Vietnam, Importing from China Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Haiphong Port, Vietnam from China
Grey Back Duplex Board 230-250 GSM CIF Prices at Jakarta Port, Indonesia, Importing from China Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Jakarta Port, Indonesia from China
Grey Back Duplex Board 230-250 GSM CIF Prices at Chittagong Port, Bangladesh, Importing from China Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Chittagong Port, Bangladesh from China
Grey Back Duplex Board 230-250 GSM CIF Prices at Port Kelang, Malaysia, Importing from China Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Port Kelang, Malaysia from China
Grey Back Duplex Board 285-400 GSM CIF Prices at Haiphong Port, Vietnam, Importing from China Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Haiphong Port, Vietnam from China
Grey Back Duplex Board 285-400 GSM CIF Prices at Jakarta Port, Indonesia, Importing from China Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Jakarta Port, Indonesia from China
Grey Back Duplex Board 285-400 GSM CIF Prices at Chittagong Port, Bangladesh, Importing from China Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Chittagong Port, Bangladesh from China
Grey Back Duplex Board 285-400 GSM CIF Prices at Port Kelang, Malaysia, Importing from China Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Port Kelang, Malaysia from China
Europe Grey Back Duplex Board Pricing Analysis Grey Back Duplex Board 250-280 GSM HWC Bulk (1.24-1.28) CIF Prices at Southampton Port, United Kingdom, Importing from India Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Southampton Port, United Kingdom from India
Grey Back Duplex Board 250-280 GSM LWC Bulk (1.22-1.25) CIF Prices at Southampton Port, United Kingdom, Importing from India Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Southampton Port, United Kingdom from India
Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27) CIF Prices at Southampton Port, United Kingdom, Importing from India Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Southampton Port, United Kingdom from India
North America Grey Back Duplex Board Pricing Analysis Grey Back Duplex Board 250-280 GSM HWC Bulk (1.24-1.28) CIF Prices at Houston Port, USA, Importing from India Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Houston Port, USA from India
Grey Back Duplex Board 250-280 GSM LWC Bulk (1.22-1.25) CIF Prices at Houston Port, USA, Importing from India Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Houston Port, USA from India
Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27) CIF Prices at Houston Port, USA, Importing from India Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Houston Port, USA from India
Middle East & Africa Grey Back Duplex Board Pricing Analysis Grey Back Duplex Board 250-280 GSM HWC Bulk (1.24-1.28) CIF Prices at Jebel Ali Port, United Arab Emirates, Importing from India Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Jebel Ali Port, United Arab Emirates from India
Grey Back Duplex Board 250-280 GSM LWC Bulk (1.22-1.25) CIF Prices at Jebel Ali Port, United Arab Emirates, Importing from India Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Jebel Ali Port, United Arab Emirates from India
Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27) CIF Prices at Jebel Ali Port, United Arab Emirates, Importing from India Weekly Price Update on Grey Back Duplex Board Real-Time Import Prices at Jebel Ali Port, United Arab Emirates from India

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 Q1 2026

In Q1 2026, the global Grey Back Duplex Board market witnessed a firm upward movement compared with the previous quarter. Throughout the quarter, export trading activity remained healthy as steady demand persisted across key downstream sectors such as gift packaging cartons, food packaging, cosmetics cartons, and consumer goods.

Packaging converters across major consuming regions maintained consistent procurement to support ongoing production requirements and post-holiday replenishment cycles. The rise in prices was supported by firm recovered paper feedstock costs, stable mill operating rates, and improved export inquiries from multiple importing regions.

Producers across Asia and other exporting hubs maintained competitive supply availability while securing regular and long-term contracts with global buyers. Additionally, stable logistics conditions and improving international trade sentiment supported smooth shipment flows during the quarter.

Seasonal restocking activity and steady procurement behaviour further strengthened global shipment volumes. Toward the end of the quarter, stronger buying interest and tightening availability supported additional upward momentum. Overall, the market reflected a firm and positive global export environment.

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 Q1 2026, Grey Back Duplex Board export price trend in India witnessed a strong upward trend, increasing by around 3% compared with Q4 2025. Throughout the quarter, export trading activity benefited from steady global demand across key downstream sectors such as gift packaging cartons, food packaging, cosmetics, and consumer goods. Indian converters and exporters maintained consistent production levels to meet international order requirements.

The rise in prices was supported by firm recovered paper feedstock costs, stable mill operating rates, and rising export inquiries from major importing regions. Exporters maintained competitive supply availability while securing regular and long-term orders from overseas buyers.

Additionally, improving global trade sentiment and stable logistics conditions supported export momentum during the quarter. Seasonal restocking cycles and steady procurement activity further contributed to sustained shipment volumes.

On a monthly basis, In March 2026, Grey Back Duplex Board prices in India have increased by around 8% in March 2026 compared with February 2026, driven by strong buying interest and tighter supply conditions. Overall, the market reflected a firm and positive export environment.

China: Grey Back Duplex Board export Prices FOB Qingdao, China; Grade- Grey Back Duplex Board 285-400 GSM HWC

In Q1 2026, the Grey Back Duplex Board price trend in China witnessed a slight upward movement, with prices increasing by around 0.4% compared with Q4 2025. Export trading conditions remained balanced-to-firm as shipments from Chinese producers moved steadily on an FOB Qingdao basis, while overseas buyers maintained consistent procurement strategies.

Demand from FMCG cartons, food and confectionery packaging, electronics, cosmetics, and gift packaging sectors remained stable, supported by continued post-holiday consumption trends.

The price increase was limited due to sufficient supply availability and ongoing competition from other Asian exporters. Chinese mills operated at stable rates, ensuring steady output while managing inventories efficiently. Feedstock costs, including recovered paper and pulp, remained relatively firm, providing slight support to pricing.

On a monthly basis, In March 2026, Grey Back Duplex Board prices in China have increased by around 2% compared with February, driven by improved restocking demand and stronger export inquiries. Overall, the market reflected a stable to slightly firm export environment supported by balanced supply and steady demand.

Indonesia: Grey Back Duplex Board Imported Price CIF Jakarta, Indonesia from China; Grade- Grey Back Duplex Board 285-400 GSM

In Q1 2026, the Grey Back Duplex Board price trend in Indonesia witnessed a slight downward movement, with prices declining by around 0.37% compared with Q4 2025. The market experienced balanced to slightly soft conditions as steady import shipments ensured adequate supply across the domestic packaging industry.

Demand from FMCG cartons, food and confectionery packaging, electronics, cigarette cartons, and cosmetics sectors remained moderate, with manufacturers maintaining stable production after the holiday season.

Packaging converters adopted cautious, need-based procurement strategies, avoiding excess inventory buildup amid steady consumption trends. The price decline was mainly influenced by sufficient supply and competitive regional import offers. Feedstock costs, including recovered paper and pulp, remained relatively stable, offering limited pricing support.

On a monthly basis, In March 2026, Grey Back Duplex Board prices in Indonesia have increased by around 2% compared with February, driven by short-term restocking demand and improved buying interest. Overall, the market reflected a stable to slightly soft trading environment supported by balanced supply and moderate demand.

Malaysia: Grey Back Duplex Board Imported Price CIF Kelang, Malaysia from China; Grade- Grey Back Duplex Board 285-400 GSM

In Q1 2026, the Grey Back Duplex Board price trend in Malaysia witnessed a slight upward movement, with prices increasing by around 0.76% compared with Q4 2025. Market conditions remained balanced-to-firm as consistent import shipments from key suppliers such as China ensured steady availability and supported gradual price improvement.

Demand from FMCG cartons, food and confectionery packaging, cosmetics, electronics, and gift packaging sectors remained moderate, with converters following cautious yet steady procurement strategies aligned with ongoing consumption needs.

The price rise was supported by slightly firm feedstock costs, particularly recovered paper and pulp, along with stable production rates among regional suppliers. Steady trade flows and manageable logistics conditions further supported market stability.

On a monthly basis, In March 2026, Grey Back Duplex Board prices in Malaysia have increased by 2.18% compared with February, driven by short-term restocking and improved buying sentiment. Overall, the market reflected a stable to slightly firm environment supported by balanced supply and consistent downstream demand.

United Kingdom: Grey Back Duplex Board Imported Price CIF Southampton, United Kingdom from India; Grade- Grey Back Duplex Board 285-400 GSM

In Q1 2026, the Grey Back Duplex Board price trend in the United Kingdom witnessed a sharp downward movement, with prices declining by around 14% compared with Q4 2025. The decline reflected a market correction after the strong seasonal surge seen in the previous quarter, as demand from packaging converters and brand owners eased following the year-end retail peak.

Demand from key downstream sectors such as food and confectionery packaging, cosmetics cartons, electronics packaging, and gift boxes remained moderate, with retailers reducing procurement after completing holiday inventory replenishment. Import flows from Asia continued steadily.

However, improved supply availability and more competitive export offers led to lower landed prices in the UK market. Feedstock conditions, particularly recovered paper and pulp, remained relatively stable, offering limited cost support.

On a monthly basis, In March 2026, Grey Back Duplex Board prices in the UK have increased by around 7% compared with February due to short-term restocking and improved order flow. Overall, the market reflected a corrective bearish trend driven by demand normalization and eased seasonal pressures.

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 Q1 2026, the Grey Back Duplex Board price trend in the United States witnessed a mild downward movement, with prices declining by around 2% compared with Q4 2025. Throughout the quarter, importers and converters continued to moderate procurement as previously built inventories remained sufficient to meet ongoing production requirements.

Downstream sectors such as food packaging, pharmaceutical cartons, and e-commerce shipping boxes maintained steady production, but overall buying activity remained restrained following post-holiday demand normalization.

Import shipments from Asia continued to arrive consistently, while competitive export offers and stable feedstock costs, particularly recovered paper, maintained downward pressure on prices. Improved supply availability further supported a softer pricing environment across the market.

On a month-on-month basis, In March 2026, Grey Back Duplex Board prices in the US have increased by around 6% compared with February, driven by short-term restocking and improved order flow. Overall, the market reflected a slightly soft tone, supported by adequate supply, controlled inventory levels, and moderated downstream demand conditions.

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 Q1 2026, Grey Back Duplex Board prices in the UAE increased slightly by around 1% compared with Q4 2025, reflecting a mildly firm market environment. The Grey Back Duplex Board price trend in the UAE remained stable, supported by consistent procurement from importers and converters aligned with ongoing packaging demand.

Downstream sectors including FMCG cartons, food packaging, confectionery boxes, gift packaging, and cosmetics cartons maintained steady production activity, supporting regular import flows. Shipments from India continued to arrive smoothly through Jebel Ali, ensuring adequate market availability.

Feedstock costs, particularly recovered paper and pulp, remained relatively balanced, providing stable cost support to suppliers. In March 2026, Grey Back Duplex Board prices in the UAE surged by approximately 17% month-on-month, driven by aggressive short-term restocking and stronger buying momentum.

Bangladesh: Grey Back Duplex Board Imported Price CIF Chittagong, Bangladesh from China; Grade- Grey Back Duplex Board 285-400 GSM

In 2026 Q1, the price of Grey Back Duplex Board in Bangladesh increased on average approximately 3% compared to 2025 Q4. This increase reflected an overall moderately firm market environment.

The continued upward trend of the Grey Back Duplex Board price in Bangladesh has been supported by the gradual recovery of procurement of imports and of converted goods from importers, due to the steady demand from the FMCG, food packaging and Retail sectors.

Continued consistent import shipments of Grey Back Duplex Board from China via Chittagong port have been able to provide adequate availability in supplies throughout the domestic market.

Currently, buyers are being somewhat cautious; however, they are starting to restore purchasing activity in order to satisfy production requirements and replenish stocks that have been depleted earlier this season due to the weak seasonal demand.

Continued stability in feedstock costs (principally recovered paper and virgin pulp) has ensured an equitable balance between cost support and product price support. In March 2026, Grey Back Duplex Board prices in Bangladesh increased approximately 15% m-o-m as a result of aggressive restocking activity and improved buying interest.

Vietnam: Grey Back Duplex Board Imported Price CIF Haiphong, Vietnam from China; Grade- Grey Back Duplex Board 285-400 GSM

During Q1 2026, Grey Back Duplex Board prices in Vietnam declined moderately by 3% compared to Q4 2025 in response to weak market sentiment. The price trend of Grey Back Duplex Board in Vietnam has been soft as importers and converters are reducing new procurement as the FMCG, food packaging, cosmetics and retail display sector experience weak demand.

Import shipments from China through Haiphong Port continue at a consistent level supporting sufficient material availability in the local market. As buyers focused on their short-term requirement rather than bulk purchases, there has been a slowing procurement velocity.

Feedstock costs remain stable and as such, the price of imports have remained relatively stable as well with the exception of recovered paper and the cost of pulp. In March 2026, Grey Back Duplex Board prices in Vietnam decreased by 2% month over month and reflected the continued weak downstream demand and the cautious inventory control of the buyers.

Grey Back Duplex Board Price Trend Analysis: 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.

In Q3 2025, the Grey Back Duplex Board prices has been demonstrating a modest strengthening trend, recording a 2% increase from the previous quarter. The sector has been experiencing improving demand momentum as packaging converters have been increasing procurement ahead of the upcoming festive and year-end retail season.

Downstream industries such as snack packaging, confectionery cartons, toy boxes, and cosmetics packaging have been expanding production volumes, supporting consumption of duplex board. Feedstock recovered paper prices have been remaining moderately firm, providing some cost support to paperboard producers.

Operating rates across several manufacturing facilities have been continuing at controlled levels as producers have been aiming to maintain balanced inventory conditions while accommodating the rising demand environment.

Export sentiment has been gradually strengthening, particularly across Asian and Middle Eastern markets, where buyers have been increasing inquiries for upcoming retail packaging requirements.

Seasonal demand patterns have been contributing significantly to market improvement as procurement activity has been intensifying in preparation for festivals and holiday sales. Overall, the market has been reflecting a positive, yet controlled growth trend 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 Q3 2025 Grey Back Duplex Board export prices have been witnessing a moderate strengthening trend, reflecting a 1% increase compared with Q2 2025. Throughout the quarter, export trading conditions have been remaining relatively stable as overseas buyers have been gradually increasing procurement in preparation for the upcoming festive and year-end retail season.

Demand has been emerging from downstream sectors such as snack and confectionery cartons, toy packaging boxes, cosmetics cartons, and retail display packaging, which have been expanding production activity.

The mild upward movement in prices has been influenced by steady recovered paper feedstock costs, controlled operating rates among Indian duplex board mills, and gradual inventory adjustments among international converters.

Export inquiries have been remaining consistent as buyers have been securing packaging materials ahead of peak seasonal consumption. Although purchasing volumes have been improving, procurement strategies have still been remaining somewhat cautious to manage cost fluctuations.

Consequently, the overall export market sentiment has been showing steady improvement, supported by seasonal demand growth and balanced supply conditions compared with the previous quarter. On month on month basis, the prices have been increasing by 3% in September 2025 compared with August 2025.

China: Grey Back Duplex Board export Prices FOB Qingdao, China; Grade- Grey Back Duplex Board 285-400 GSM HWC

In Q3 2025, the Grey Back Duplex Board Prices in China has been witnessing a moderate strengthening trend, with prices increasing by 2% compared with Q2 2025. Throughout the quarter, export trading activity has been gradually improving as overseas buyers from Southeast Asia, the Middle East have been increasing procurement ahead of the upcoming festive and year-end retail production cycle.

Chinese suppliers have been maintaining consistent shipment volumes from major ports such as Qingdao while adjusting export offers slightly upward due to improving demand conditions. Downstream industries including FMCG cartons, packaged food boxes, electronics packaging, cosmetics cartons, and retail display packaging have been supporting the rise in export inquiries as converters have been preparing for seasonal packaging demand.

Feedstock conditions, particularly recovered paper and pulp, have been remaining relatively stable in the domestic Chinese market, providing moderate cost support for duplex board manufacturers. At the same time, operating rates among several Chinese paper mills have been remaining balanced to manage inventories while sustaining export supply.

On a month-on-month basis, August has remained unchanged while September has increased by 3% compared with August 2025 as export orders have improved gradually. Overall, the market has been reflecting a cautiously firm tone supported by improving export demand and steady production levels.

Indonesia: Grey Back Duplex Board Imported Price CIF Jakarta, Indonesia from China; Grade- Grey Back Duplex Board 285-400 GSM

In Q3 2025, the Grey Back Duplex Board Prices in Indonesia has been witnessing a slight softening trend, with prices declining by 0.5% compared with Q2 2025. Throughout the quarter, trading conditions have been reflecting subdued momentum as packaging converters have been maintaining cautious procurement strategies due to sufficient inventories and moderate downstream demand.

Imports from major supplying countries such as China, India have been arriving steadily, ensuring adequate availability in the domestic market. Downstream sectors including FMCG cartons, packaged food boxes, cigarette packaging, personal care cartons, and retail display packaging have been continuing steady production activity, although order volumes have been growing slowly.

Feedstock conditions in exporting countries, particularly recovered paper and pulp, have been remaining relatively stable, which has been limiting significant price volatility in import offers. Seasonal demand expectations ahead of the year-end retail cycle have been emerging gradually, yet converters have been avoiding aggressive restocking.

On a month-on-month basis, September 2025, prices have been increasing by 3% compared with August 2025. Overall, the market has been reflecting a slightly soft tone supported by adequate supply availability and cautious buying activity.

Malaysia: Grey Back Duplex Board Imported Price CIF Kelang, Malaysia from China; Grade- Grey Back Duplex Board 285-400 GSM

In Q3 2025, the Grey Back Duplex Board prices in Malaysia has been witnessing a moderate strengthening trend, with prices increasing by 2% compared with Q2 2025, when the market had remained largely stable.

Throughout the quarter, trading activity has been gradually improving as packaging converters have been increasing procurement ahead of the upcoming festive and year-end retail season across Southeast Asia. Import shipments from key exporting countries such as India and Indonesia have been arriving consistently, while suppliers have been slightly adjusting offers upward due to improved buying interest.

Downstream sectors including FMCG packaging, packaged food cartons, electronics packaging, cosmetics cartons, and retail display packaging have been maintaining steady production activity, which has been supporting the consumption of duplex board.

Feedstock conditions in exporting markets, particularly recovered paper and pulp, have been remaining relatively stable, providing moderate cost support to manufacturers. Seasonal demand associated with pre-holiday retail production has been encouraging converters to gradually replenish inventories.

On a month-on-month basis, September has risen by 3% compared with August 2025. Overall, the market has been reflecting a cautiously firm tone supported by improving downstream demand and steady import supply.

United Kingdom: Grey Back Duplex Board Imported Price CIF Southampton, United Kingdom from India; Grade- Grey Back Duplex Board 285-400 GSM

In Q3 2025, the Grey Back Duplex Board import market in the United Kingdom has been showing a gradual upward movement, with prices increasing by 2% compared with Q2 2025, which had previously experienced a substantial surge in import costs.

Market activity throughout the quarter has been supported by consistent demand from the UK’s packaging industry, particularly across sectors such as packaged foods, FMCG cartons, pharmaceutical packaging, and retail-ready display boxes.

Converters and packaging manufacturers have been continuing to procure material at a steady pace to maintain production schedules during the summer retail cycle. Imports from major suppliers including India, China, and Southeast Asia have been moving regularly into UK ports, while logistics and freight conditions have been remaining relatively stable compared with the previous quarter.

Feedstock markets in exporting regions, especially recovered paper and pulp, have been maintaining balanced pricing trends, which has been offering moderate cost support to finished board prices.

Seasonal activity tied to food packaging, supermarket promotions, and consumer goods distribution has been sustaining consumption levels. On month on month basis, September 2025, prices have been increasing by 11% compared with August 2025. Overall, the market has been demonstrating a moderately firm outlook driven by stable downstream demand and consistent import supply.

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 Q3 2025, the Grey Back Duplex Board prices in the United States has been gradually strengthening, with prices increasing by 1% compared with Q2 2025. Throughout the quarter, importers and packaging converters have been steadily replenishing stocks to meet ongoing demand from downstream industries such as FMCG cartons, packaged food boxes, and e-commerce shipping cartons.

Imports from major suppliers including India, China, and Southeast Asia have been arriving reliably at Houston, while logistics networks have been continuing to operate smoothly. Feedstock markets in exporting countries, particularly recovered paper and pulp, have been remaining stable, providing moderate support to finished board prices.

Seasonal demand from summer retail and early holiday preparation has been encouraging converters to maintain consistent procurement levels. On a month-on-month basis, September 2025 has been decreasing by 4% compared with August 2025. Overall, the market has been reflecting a moderately firm trend, supported by steady imports, balanced inventories, and stable 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 Q3 2025, the Grey Back Duplex Board prices in the United Arab Emirates has been remaining largely stable, with prices declining slightly by 0.1% compared with Q2 2025. Throughout the quarter, importers and packaging converters have been continuing to manage procurement carefully, focusing on maintaining adequate inventories for downstream production without overstocking.

Demand from sectors such as FMCG cartons, food and beverage packaging, cosmetics cartons, and retail display boxes has been continuing at a steady pace, while seasonal demand has been gradually strengthening as businesses have been preparing for upcoming regional festivals and retail promotions.

Shipments from major suppliers, particularly from India, China, and Southeast Asia, have been arriving consistently at Jebel Ali, while feedstock costs in exporting countries, especially recovered paper and pulp, have been remaining stable, providing limited upward pressure on import prices.

On a month-on-month basis, September 2025 has been increasing by 5% compared with August 2025. Overall, the market has been reflecting a stable trend supported by balanced supply, steady downstream demand, and controlled procurement strategies.

Bangladesh: Grey Back Duplex Board Imported Price CIF Chittagong, Bangladesh from China; Grade- Grey Back Duplex Board 285-400 GSM

In Q3 2025, the Grey Back Duplex Board prices in Bangladesh has been showing a strong recovery, with prices rising by 5% compared with Q2 2025. Importers and converters have been increasing purchases as downstream industries, particularly FMCG packaging, pharmaceutical cartons, and food boxes, have been ramping up production after a relatively slow previous quarter.

Shipments from India, China, and Southeast Asia have been continuing to arrive steadily at Chittagong, helping maintain supply stability despite higher demand. Feedstock markets in exporting regions, including recovered paper and pulp, have been remaining steady, supporting manageable cost structures for suppliers. Seasonal demand related to pre-festive and retail stock preparation has been encouraging converters to secure material ahead of anticipated consumption peaks. On a month-on-month basis, September 2025 has been increasing by 6% compared with August 2025. Overall, the market has been reflecting a firm recovery trend driven by renewed downstream activity and consistent import arrivals.

Vietnam: Grey Back Duplex Board Imported Price CIF Haiphong, Vietnam from China; Grade- Grey Back Duplex Board 285-400 GSM

In Q3 2025, the Grey Back Duplex Board prices in Bangladesh has been showing a strong recovery, with prices rising by 5% compared with Q2 2025. Importers and converters have been increasing purchases as downstream industries, particularly FMCG packaging, pharmaceutical cartons, and food boxes, have been ramping up production after a relatively slow previous quarter.

Shipments from India, China, and Southeast Asia have been continuing to arrive steadily at Chittagong, helping maintain supply stability despite higher demand. Feedstock markets in exporting regions, including recovered paper and pulp, have been remaining steady, supporting manageable cost structures for suppliers.

Seasonal demand related to pre-festive and retail stock preparation has been encouraging converters to secure material ahead of anticipated consumption peaks. On a month-on-month basis, September 2025 has been remain stable compared with August 2025. Overall, the market has been reflecting a firm recovery trend driven by renewed downstream activity and consistent import arrivals.

Global:

According to the Price-Watch, In Q2 2025, the Grey Back Duplex Board prices has been showing early signs of recovery, with prices increasing by 1% compared with Q1 2025. The prices has been gradually strengthening as packaging converters have been resuming procurement activities following the slower start of the year.

Demand from key downstream industries such as consumer goods packaging, packaged food cartons, and e-commerce retail boxes has been improving moderately as brand owners have been preparing for mid-year promotional campaigns and restocking cycles.

Feedstock markets have been showing slightly firmer trends, with recovered paper costs providing mild cost support for manufacturers. Operating rates across several mills have been remaining balanced as producers have been aiming to maintain supply discipline while meeting gradually improving demand.

Export activity has been showing moderate improvement, particularly in Asian markets where regional trade flows have been supporting steady shipments. Seasonal demand patterns have been contributing to improved packaging consumption during this transitional quarter. Overall, the market has been displaying a cautiously optimistic sentiment, reflecting gradual stabilization compared with the previous quarter.

India:

According to the Price-Watch, In Q2 2025 Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27), prices has been continuing to strengthen, with prices averaging INR 37,500/MT FOB Mundra, representing a 4% increase compared with Q1 2025.

Throughout the quarter, the prices has been witnessing improved export momentum as downstream packaging converters across several importing regions have been increasing procurement volumes.

Demand has been particularly strong from sectors including consumer goods cartons, packaged food boxes, e-commerce retail packaging, and pharmaceutical secondary packaging.

The continued rise in prices has been influenced by firmer recovered paper costs, improved mill utilization rates, and stronger buying interest from buyers across Africa, the Middle East, and South Asia. Indian exporters have been benefiting from competitive freight advantages and consistent supply availability, allowing them to capture larger export volumes.

Seasonal demand during the mid-year period has been supporting packaging requirements for retail and consumer goods supply chains in various international markets. In addition, converters have been gradually rebuilding inventories after earlier cautious procurement.

As a result, the export market has been maintaining a positive trading tone, with improving demand and stronger export inquiries driving the price increase compared with the previous quarter. Over the course of the quarter, on monthly basis prices have been remaining stable in June 2025 compared with May 2025.

Global:

According to the Price-Watch, In Q1 2025, the Grey Back Duplex Board prices has been continuing to display mild downward pressure, with prices declining by 1.5% compared with Q4 2024.

The prices have been adjusting to the typical post-holiday slowdown as packaging converters have been reducing purchasing activity while utilizing existing inventories accumulated during the previous quarter.

Demand from major downstream segments including FMCG cartons, pharmaceutical secondary packaging, and processed food boxes has been remaining steady but moderate during the early months of the year.

Feedstock markets, particularly recovered paper, have been maintaining relatively stable price levels, offering minimal cost-side influence on the paperboard sector. Production levels at several mills have been continuing at balanced rates as manufacturers have been prioritizing inventory management amid the slower demand environment.

Export trading activity has been remaining competitive, with Asian suppliers continuing to offer attractive prices to maintain market share. Seasonal consumption trends have been reflecting the typical first-quarter lull following peak retail activity. Overall, the market has been maintaining a relatively stable, yet slightly bearish tone compared with the previous quarter.

India:

According to PriceWatch, In Q1 2025 Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27), prices has been witnessing a notable recovery marking a 3.5% increase compared with Q4 2024.

Throughout the quarter, export trading activity has been improving as overseas packaging converters have been gradually returning to the market following the year-end inventory drawdown.

Demand from key importing regions including Africa, the Middle East, and Southeast Asia has been strengthening for applications such as FMCG cartons, pharmaceutical packaging, and packaged food boxes.

The upward movement in export prices has been influenced by firmer recovered paper feedstock costs, moderate production adjustments among Indian mills, and improved restocking activity from international buyers.

Seasonal demand patterns during the early part of the year have been supporting gradual procurement recovery as brand owners in importing markets have been preparing for new production cycles. Indian suppliers have been continuing to maintain disciplined operating rates while securing export orders to maintain shipment volumes.

Consequently, overall market sentiment has been improving during the quarter, reflecting stronger demand momentum and healthier trading activity compared with the previous quarter. Over the course of the quarter, on monthly basis prices have been remaining stable in March 2025 with no changes compared with February 2025.

Grey Back Duplex Board Price Trend Analysis: Q4 2024

Global:

According to the Price-Watch, In Q4 2024, the Grey Back Duplex Board prices has been continuing its soft trajectory, registering a 3% decline compared with Q3 2024. The prices have been operating under persistent supply pressure despite the seasonal rise in packaging demand associated with the holiday retail period.

End-use sectors such as confectionery packaging, cosmetics cartons, toy boxes, and gift packaging have been increasing production activity, yet procurement volumes have been remaining measured as converters have been relying on previously accumulated inventories.

Feedstock dynamics have been remaining stable, with recovered paper prices providing limited cost fluctuations for manufacturers. Several producers across Asia and Europe have been continuing to adjust operating rates to prevent excessive stock buildup while maintaining steady supply to long-term customers.

Export markets have been showing competitive pricing conditions as suppliers have been attempting to secure year-end contracts. Although seasonal retail consumption has been supporting packaging requirements, the market has been experiencing only moderate demand improvement. Consequently, the overall market sentiment has been remaining subdued, with supply availability outweighing demand growth compared with the previous quarter.

India:

According to the PriceWatch, In Q4 2024 Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27), prices have been continuing to soften slightly representing a 0.5% decline compared with Q3 2024.

Throughout the quarter, the market has been experiencing relatively stable yet slightly pressured trading conditions despite the seasonal increase in packaging demand linked to global holiday retail activity.

Demand from overseas buyers has been supported by downstream industries including confectionery packaging, cosmetics cartons, electronics packaging boxes, and gift packaging, where production activity has been increasing for year-end retail sales.

However, the improvement in consumption has been moderate as many converters in importing countries have been relying on earlier inventory purchases. The continued mild decline in export prices has been influenced by stable recovered paper feedstock costs, balanced production levels among Indian paper mills, and competitive offers from other Asian exporters.

Export shipments to Africa and the Middle East have been remaining steady, although buyers have been maintaining cautious procurement strategies to manage costs. As a result, the overall market environment has been reflecting stable supply availability and moderate demand conditions, keeping export prices slightly lower compared with the previous quarter.

On a monthly basis, Prices have been remaining decreasing by 1% in December 2024 compared to November 2024, with no noticeable changes observed during the period.

Global

According to Price-Watch, In Q3 2024 the Grey Back Duplex Board prices has been continuing to experience a downward pricing trend, recording a 5.5% decline from Q2 2024. The sector has been facing sustained pressure as demand from major packaging converters has been remaining weaker than anticipated despite the approaching festive packaging season.

Downstream industries such as snack packaging, toy cartons, cosmetics boxes, and general retail packaging have been placing orders conservatively, reflecting cautious inventory management strategies. Feedstock costs, particularly recovered paper, have been remaining relatively stable, providing minimal cost-push support for producers.

Production facilities across several Asian manufacturing hubs have been continuing to operate at moderate utilization levels as suppliers have been attempting to balance supply with the subdued demand environment.

Export sentiment has been staying weak, with buyers in global markets demonstrating hesitation amid competitive pricing and sufficient stock availability. Although seasonal demand ahead of year-end retail activity has been gradually emerging, it has been insufficient to significantly alter the prevailing market trend.

Overall, the market has been maintaining a soft tone through the quarter, shaped by persistent oversupply and restrained procurement compared with the previous quarter.

India:

According to PriceWatch, In Q3 2024 Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27), prices has been witnessing a continued mild softening trend, reflecting a 1.5% decline from Q2 2024.

Throughout the quarter, export sentiment has been remaining somewhat restrained as buyers in overseas markets have been continuing to place orders cautiously despite the approaching festive packaging season.

Demand from downstream sectors such as snack packaging cartons, toy boxes, pharmaceutical packaging, and cosmetics cartons has been gradually improving but has not been strong enough to support price recovery.

The persistent price pressure has been influenced by stable recovered paper feedstock prices, balanced operating rates among Indian paper mills, and competitive export offers across Asian markets.

Additionally, converters in several importing regions have been maintaining adequate inventories, reducing immediate restocking urgency. Seasonal expectations for stronger packaging demand ahead of the year-end retail cycle have been emerging slowly, particularly from food and FMCG sectors, yet procurement volumes have remained measured.

Indian producers have been continuing to adjust shipment volumes and maintain supply discipline to manage inventory levels. As a result, the overall export market sentiment has been remaining soft, reflecting cautious trading activity compared with the previous quarter. On a monthly basis, Prices have been remaining stable in September, with no changes observed in August 2024.

Global:

According to the PriceWatch, In Q2 2024, the Grey Back Duplex Board prices has been experiencing a notable weakening trend, with prices declining by 8% compared with Q1 2024. The prices has been facing significant pressure as downstream packaging converters have been maintaining cautious purchasing behavior amid uncertain consumer demand and sufficient existing inventories.

Major end-use industries including FMCG packaging, food cartons, and retail product boxes have been demonstrating slower procurement momentum, limiting overall consumption growth.

Feedstock conditions, particularly recovered paper prices, have been softening slightly, which has been reducing production cost pressures and allowing suppliers to offer more competitive pricing.

Operating rates across several mills in Asia, especially China and Southeast Asia, have been adjusting moderately as producers have been attempting to manage inventory levels in the face of weaker orders. Export activity has been remaining sluggish, with global buyers showing limited urgency due to ample availability of material.

Seasonal demand has been staying relatively soft during this mid-year period, which has been further contributing to subdued trading sentiment. Overall, the market has been maintaining a bearish tone, driven by oversupply conditions and cautious procurement compared with the previous quarter.

India:

According to PriceWatch, In Q2 2024 Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27), prices has been continuing to experience a downward pricing trend, marking a 3% decline compared with Q1 2024.

Throughout the quarter, export trading activity has been reflecting relatively soft market conditions as overseas converters have been maintaining cautious procurement strategies. Demand from key importing countries has been remaining moderate, particularly for applications such as consumer goods cartons, food packaging boxes, stationery cartons, and retail display packaging.

The continued softness in prices has been influenced by steady recovered paper costs, stable production levels among Indian duplex board mills, and persistent competition from suppliers offering attractive export prices.

In addition, several downstream packaging converters in export destinations have been adjusting purchasing volumes due to sufficient inventories and moderate retail demand. Seasonal demand during the mid-year period has been remaining relatively steady but not strong enough to significantly improve export momentum.

Consequently, Indian suppliers have been maintaining competitive pricing strategies to sustain export volumes, while overall market sentiment has been leaning slightly bearish compared with the previous quarter. On a monthly basis, Prices have been remaining stable in June 2024, with no changes observed in May 2024.

Global:

According to Price-Watch, In Q1 2024, the Grey Back Duplex Board prices have been witnessing a slight firming trend, with prices increasing by 0.3% from the previous quarter. The prices have been experiencing a gradual stabilization as packaging converters have been slowly returning to procurement following the year-end slowdown observed in Q4 2023.

Demand from key downstream sectors such as FMCG cartons, food packaging boxes, and consumer goods folding cartons has been improving moderately as brand owners have been replenishing inventories after the holiday sales cycle.

Raw material markets, particularly recovered paper and pulp, have been remaining relatively steady, providing limited but stable cost support to paperboard producers. Production levels across several Asian and European mills have been operating at balanced rates as suppliers have been aiming to avoid excess inventory buildup.

Export activity has been remaining moderate, with Asian suppliers continuing to offer competitive pricing in global markets. Seasonal consumption patterns have been gradually supporting packaging demand as retail supply chains have been restarting procurement cycles after the holiday period.

Overall, the market sentiment has been remaining cautiously stable, with steady supply conditions and moderate demand recovery shaping trading activity compared with the previous quarter.

India:

According to PriceWatch, In India, the Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27), prices has been witnessing a moderate decline during Q1 2024, reflecting a 3% decrease compared with Q4 2023.

Throughout the quarter, the prices has been experiencing relatively cautious trading conditions as overseas buyers have been placing orders conservatively following the year-end holiday procurement cycle.

Demand from key importing regions has been remaining moderate, particularly from downstream sectors including FMCG cartons, soap and detergent packaging, pharmaceutical secondary cartons, and food packaging boxes.

The persistent softness in export prices has been influenced by stable recovered paper (RCP) feedstock costs, steady mill operating rates across western India, and competitive offers from regional Asian suppliers.

Seasonal demand during the first quarter has typically been slower after the holiday season, and converters in major importing markets have been maintaining sufficient inventories, limiting immediate restocking activity.

Indian paper mills have been continuing to maintain balanced production levels to prevent excess stock accumulation while keeping export channels active. As a result, overall market sentiment has been remaining slightly subdued, with cautious procurement and adequate supply conditions shaping the pricing environment compared with the previous quarter. On a monthly basis, the prices have been decreasing by 4% in March 2025 compared with February 2025.

Technical Specifications of Grey Back Duplex Board Price Trends

Product Description

Grey Back Duplex Board is a widely used multi-layer paperboard packaging material valued for its good stiffness, durability, and cost-efficient structure. It is manufactured using a combination of recycled pulp layers, with the top surface typically coated in a light-colored or white finish for printability, while the reverse side remains grey due to the recycled fiber content. The board is produced through a layered papermaking process, where the coated top layer provides a smooth and printable surface suitable for high-quality graphics, branding, and packaging design. Grey Back Duplex Board offers strong rigidity, good folding endurance, and adequate compression strength, making it suitable for carton conversion and various packaging applications. While its moisture and grease resistance are moderate, these properties can be enhanced with additional coatings or laminations to ensure product protection during storage and transport. Its lightweight yet durable structure allows manufacturers to achieve cost-effective packaging solutions without compromising structural integrity. Due to these functional properties, Grey Back Duplex Board is extensively used in folding cartons, food and beverage cartons, FMCG packaging, pharmaceutical cartons, electronics boxes, and other commercial packaging applications where strength, durability, and print quality are essential.

Identifiers and Classification:

HS Code:  48109900

Grey Back Duplex Board Synonyms:

  • Coated Duplex Board
  • Grey Baked White
  • White Top Grey Back Board
  • Two Ply Board


Grey Back Duplex Board Grades Specific Price Assessment:

  • Grey Back Duplex Board 250-280 GSM HWC Bulk (1.24-1.28)
  • Grey Back Duplex Board 250-280 GSM LWC Bulk (1.22-1.25)
  • Grey Back Duplex Board 285-400 GSM LWC Bulk (1.24-1.27)
  • Grey Back Duplex Board 230-250 GSM HWC
  • Grey Back Duplex Board 285-400 GSM HWC
  • Grey Back Duplex Board 230-250 GSM
  • Grey Back Duplex Board 285-400 GSM


Grey Back Duplex Board Global Trade and Shipment Terms:

  • Quotation Terms (Product & Country Specific): 25-30 MT/ 60-80 MT/ Blanks
  • Packaging Type (Product & Country Specific): Jumbo Rolls


Incoterms Referenced in Grey Back Duplex Board Price Reporting:

Shipping Term  Location  Definition 
EX-Morbi  Morbi, India   Grey Back Duplex Board Domestically traded price in India  
Ex-Coimbatore  Coimbatore, India  Grey Back Duplex Board Domestically traded price in India 
Ex-North India  North India, India  Grey Back Duplex Board Domestically traded price in India 
FOB Mundra  Mundra, India  Grey Back Duplex Board Export Price in India 
FOB Qingdao  Qingdao, China  Grey Back Duplex Board Export Price in China 
 CIF Jakarta (China)  Jakarta, Indonesia  Grey Back Duplex Board Import Price in Indonesia from China 
CIF Kelang (China)  Kelang, Malaysia  Grey Back Duplex Board Import price in Malaysia from China 
CIF Southampton (India)  Southampton, United Kingdom  Grey Back Duplex Board Import Price in United Kingdom from India 
CIF Houston (India)  Houston, USA  Grey Back Duplex Board Import Price in USA from India 
CIF Jabel Ali (India)  Jabel Ali, United Arab Emirates  Grey Back Duplex Board Import Price in United Arab Emirates from India 
CIF Chittagong (China)  Chittagong, Bangladesh  Grey Back Duplex Board Import Price in Bangladesh from China 
CIF Haiphong (China)  Haiphong, Vietnam  Grey Back Duplex Board Import Price in Vietnam from China 

Quotation Terms refers to the quantity range specified for the Grey Back Duplex Board being quoted or offered in a commercial transaction.

Packaging Type refers to standard packaging size commonly used for Grey Back Duplex Board packing, ease of handling, transportation, and storage in industrial and commercial applications.

Grey Back Duplex Board Mills and their brands:

Brand Name  Mills 
NA  Spento Papers India LLP 
NA  Tulsi Paper Mill Pvt. Ltd 
Star Prime  Diyan Papers LLP 
NA  PRIYA PAPERS PVT. LTD. 
NA   BAHL Paper Mills Ltd 
Pixel Navvy   Proton Paper Industry 
NA  Century Paper Group  
NA  Golden paper Company Limited 
NA  Vishal Paper Mills Pvt. Ltd. 
NA   Dongguan Xiaolong Packaging Industry Co.,Ltd.  

Grey Back Duplex Board Industrial Applications

Historically, several events have caused significant fluctuations in Grey Back Duplex Board prices

Why Price Watch™?

Price Watch™ is your trusted resource for tracking global grey back duplex board price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the grey back duplex board market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, Price Watch™ keeps you fully informed of market dynamics.

In addition, Price Watch™ provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With Price Watch™, you gain a competitive edge in understanding all the elements that influence grey back duplex board prices worldwide. Stay ahead of the curve with Price Watch’s™ reliable, accurate, and timely grey back duplex board market data.

Track Price Watch's™ grey back duplex board price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.

Grey Back Duplex Board Market Price Trend published by Price Watch™ reflect prevailing spot market conditions, derived from independent research, verified trade inputs, and proprietary market intelligence as of the publication date. Prices are published on the specified Incoterm and represent indicative base market levels, exclusive of applicable taxes, VAT, duties, tariffs, and other statutory charges. Actual transaction values may vary depending on volume, credit terms, contractual structure, and other negotiated conditions. Market prices are inherently subject to volatility, liquidity dynamics, regulatory changes, and evolving trade activity. The information provided is for reference and benchmarking purposes only and does not constitute an offer, recommendation, or guarantee of transactional outcomes. Users should exercise independent commercial judgment and assess their specific contractual, regulatory, tax, and application requirements before making business decisions. Price Watch™ assumes no liability for decisions taken based on this information.

Grey Back Duplex Board is a multi-layer paperboard made mainly from recycled fibers with a coated top surface and a grey back. It is widely used for folding cartons, retail packaging, and secondary packaging in industries such as food, pharmaceuticals, cosmetics, and consumer goods. The price of Grey Back Duplex Board matters because it directly affects packaging costs for manufacturers and brand owners. Fluctuations in board prices can influence the overall cost of packaged products in retail markets. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ tracks these prices to help businesses and consumers understand and stay updated with the market trends.

Prices of Grey Back Duplex Board vary by region, GSM specification, coating quality, and supply-demand dynamics. They are typically quoted per metric ton and change according to raw material costs, energy expenses, freight rates, and production utilization. Different grades or thickness levels may have separate price points. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ provides real-time price assessments across different global markets to help buyers and sellers make informed decisions.

Market prices for Grey Back Duplex Board fluctuate due to factors such as recovered fiber availability, pulp prices, energy costs, and transportation expenses. Demand from FMCG, food and beverage, pharmaceutical, and e-commerce packaging industries also plays a major role. Seasonal demand variations, mill maintenance, environmental regulations, and global trade conditions further influence pricing trends.

The largest consumers of Grey Back Duplex Board are packaging converters serving FMCG, food and beverage, pharmaceutical, cosmetics, electronics, and household products. The board is commonly used for folding cartons, retail boxes, and secondary packaging materials. Growing retail and branded packaging sectors continue to drive demand, particularly from FMCG and food packaging industries. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ analyses demand patterns across all these industries.

Grey Back Duplex Board is manufactured in paper and board mills using recycled paper fibers combined with coated or uncoated top layers for printability. Multi-layer papermaking processes give structural strength while the top surface provides smoothness and print quality suitable for packaging applications.

China and India are among the largest exporters of Grey Back Duplex Board, supplying significant volumes to markets. Export volumes often shift depending on domestic consumption, production costs, and global trade dynamics. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ tracks production levels, export flows and trade patterns to help businesses understand global supply chains and identify sourcing opportunities.

Generally, supply meets global demand, but regional shortages can occur due to mill shutdowns, raw material limitations, environmental restrictions, or shipping disruptions. Sudden spikes in packaging demand, particularly during peak retail periods, can tighten supply. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ monitors these supply-demand imbalances to alert the market about potential shortages or surpluses.

Grey Back Duplex Board is available in various grades based on thickness, coating level, stiffness, and printability. Higher-quality grades with smoother coatings, higher brightness, and better rigidity usually command higher prices because of better pulp quality and additional processing. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ provides separate price assessments for different Grey Back Duplex Board grades to ensure clear market benchmarking and transparency.

When demand rises quickly, typically due to FMCG, food, or e-commerce packaging, prices usually increase as mills operate at higher capacity and supply tightens. Converters may face longer delivery timelines, and suppliers may prioritize key customers when production is limited.

Energy costs play a key role because mills require electricity, steam, and fuel for pulping, drying, and coating processes. When energy costs increase, manufacturers often pass higher operating expenses to buyers through increased board prices. Regions with lower energy costs often have more competitive pricing structures, a correlation that 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ analyses in its price assessments & market reports.

Prices differ across regions due to raw material availability, local production capacity, transportation costs, import duties, and demand levels. Markets far from major mills may face higher prices due to freight expenses. Currency fluctuations and local economic conditions also impact pricing. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ tracks prices across all major regions to highlight these differences.

Future prices depend on global packaging demand, recycled fiber supply, environmental regulations, and mill capacity expansions. Growth in e-commerce, retail, and sustainable packaging supports long-term demand. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ regularly publishes detailed forecasts that project price movements for the next 3 months based on comprehensive analysis of supply additions, demand growth in key industries, seasonal patterns, and macroeconomic indicators. Our forecasts help businesses anticipate market conditions and plan accordingly.

Yes, forecasts help businesses plan procurement, manage inventory, and negotiate supply contracts. If prices are expected to rise, companies can secure supply early at current rates. If 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ forecasts predict a price increase in 3 months, you might choose to stock up now or lock in long-term contracts at current rates, potentially saving thousands of dollars.

Events such as trade restrictions, environmental policies, transportation disruptions, natural disasters, or economic slowdowns can affect production or shipping of Grey Back Duplex Board. Supply chain interruptions or raw material shortages can tighten supply and push prices higher. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ provides timely alerts when such events affect the market.

𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ collects data from manufacturers, distributors, and buyers worldwide to publish regular price assessments, market reports, and forecasts. Our transparent methodology and comprehensive coverage make us a trusted source for understanding fair pricing and market trends in the Grey Back Duplex Board industry.

Access Real-Time Grey Back Duplex Board Price Trends
Access Real-Time Grey Back Duplex Board Price Trends