Solid Bleached Sulfate (sbs) Board Price Trend and Forecast

Solid Bleached Sulfate (SBS) Board Price Trend Q1 2025

Global:

According to PriceWatch, In Q1 2025 global Solid Bleached Sulfate (SBS) Board prices have been continuing to soften slightly, declining by 2.5% compared with Q4 2024. The prices has been experiencing a relatively slow start to the year as packaging converters have been adjusting inventory levels following the holiday season.

Demand from key downstream sectors such as pharmaceutical packaging, frozen food cartons, cosmetics packaging, and healthcare product boxes has been remaining stable but moderate, which has been limiting stronger price recovery.

Buyers across several regions have been maintaining cautious procurement strategies as sufficient stocks from late 2024 have been continuing to meet near-term production requirements.

Consumer goods manufacturers have also been maintaining conservative production planning amid uncertain economic conditions, which have been influencing packaging order volumes. Feedstock pulp costs have been remaining relatively stable, providing cost predictability but not exerting upward pressure on SBS prices.

Mills have been maintaining moderate operating rates while focusing on balancing inventory levels and sustaining export shipments. Export demand from Southeast Asia has been continuing to provide some market support, particularly for premium food and healthcare packaging applications.

Seasonally, the first quarter has traditionally been experiencing slower packaging demand following year-end retail sales cycles. Overall, the SBS board market has been remaining relatively stable but slightly weaker compared with Q4 2024 due to cautious buying activity and balanced supply conditions.

India:

According to Price Watch, In Q1 2025 Solid Bleached Sulfate (SBS) Board 230-380 GSM Both Side Coated Bulk (1.40-1.52), prices from India have been recovering moderately, registering a 2% increase compared with Q4 2024 on an FOB Calcutta basis.

Export trading activity has been gradually improving as international buyers have been returning to the market for fresh procurement cycles following the holiday inventory adjustments.

Import demand from key markets including the Europe and North America has been supporting stable export inquiries as packaging converters have been resuming normal production schedules.

Downstream sectors such as pharmaceutical packaging, frozen food cartons, cosmetics packaging, and consumer goods cartons have been maintaining consistent manufacturing activity, which has been sustaining demand for SBS board.

Indian paper mills have been maintaining steady operating rates while focusing on rebuilding export order volumes and strengthening supply agreements with overseas buyers. Feedstock pulp costs have been remaining relatively stable, allowing exporters to implement modest price increases. Seasonal packaging demand has been gradually stabilizing as consumer goods production has been recovering after the year-end retail cycle.

Overall, SBS Board export prices from India have been strengthening slightly compared with Q4 2024 as improving export demand and stable cost structures have been supporting the market recovery. On month on month basis, March 2025 prices have been decreasing by 2% compared with February 2025.

Solid Bleached Sulfate (SBS) Board Price Trend Q2 2025

Global:

According to Price Watch, In Q2 2025 global Solid Bleached Sulfate (SBS) Board prices have been declining marginally, falling by 2% compared with Q1 2025. The prices has been experiencing continued cautious demand conditions as packaging converters have been maintaining disciplined procurement strategies.

Consumption from downstream industries such as food packaging, pharmaceutical cartons, dairy packaging, and cosmetic boxes has been remaining stable as consumer goods manufacturers have been sustaining steady production volumes.

However, many buyers have been continuing to limit purchasing volumes to avoid building excess inventories. Supply availability has been remaining adequate across major producing regions as most SBS producers have been maintaining stable operating rates and sufficient stock levels.

Feedstock pulp prices have been showing minimal volatility, which has been providing cost stability but has not been generating upward price pressure for finished board products. Export shipments to Asia have been continuing steadily, although competition among suppliers has been keeping prices under pressure.

Seasonally, the second quarter has been supporting moderate packaging demand related to summer beverage consumption, travel-related food service packaging, and retail promotional packaging.

Overall, the SBS board market has been continuing to display a mildly soft trend compared with Q1 2025 as balanced supply and conservative procurement strategies have been limiting price recovery.

India:

According to the Price Watch, In Q2 2025 Solid Bleached Sulfate (SBS) Board 230-380 GSM Both Side Coated Bulk (1.40-1.52), prices from India have been remaining largely stable, showing a slight decline of 0.2% compared with Q1 2025 on an FOB Calcutta basis.

The export prices has been experiencing balanced trading conditions as international buyers have been maintaining steady procurement volumes without significant expansion in demand. Indian exporters have been maintaining consistent shipment schedules while securing ongoing supply contracts with international packaging manufacturers.

Feedstock pulp prices have been fluctuating within a narrow range, which has been contributing to stable production costs for Indian mills. Seasonal demand related to summer consumption patterns and beverage packaging has been supporting moderate packaging activity across importing markets. However, competition from other Asian suppliers has been influencing export price negotiations.

Overall, SBS Board export prices from India have been remaining relatively stable compared with Q1 2025 as steady demand and balanced supply conditions have been limiting significant price movements. On month on month basis, prices have been declining by 1% in June 2025 compared to May 2025.

Solid Bleached Sulfate (SBS) Board Price Trend Q3 2025

In Q3 2025, global Solid Bleached Sulfate (SBS) Board prices have been continuing to decline slightly, decreasing by 2% compared with Q2 2025. The market has been experiencing gradual price softening as supply availability has been remaining comfortable while procurement activity has been proceeding cautiously.

Demand from end-use sectors including confectionery cartons, luxury cosmetics packaging, electronics packaging, and pharmaceutical boxes has been remaining steady as brand owners have been preparing for upcoming holiday retail campaigns.

Packaging converters have been continuing to secure materials through long-term supply agreements arranged earlier in the year, which has been limiting additional spot market purchases. Producers in several regions have been maintaining stable operating rates to sustain production efficiency, which has been contributing to sufficient inventory levels.

Feedstock Pulp costs have been remaining relatively stable, offering minimal influence on price movements. Seasonally, the third quarter has been marking the early phase of packaging production for autumn promotions and year-end retail sales.

Overall, the SBS board market has been showing continued mild price erosion compared with Q2 2025 as stable demand has been outweighed by comfortable supply availability.

India: Solid Bleached Sulfate (SBS) Board Export Price FOB Calcutta, India; Grade- Solid Bleached Sulfate (SBS) Board 230-380 GSM Both Side Coated Bulk (1.40-1.52)

According to Price-Watch™, in Q3 2025, Solid Bleached Sulfate (SBS) Board export prices from India have been declining slightly by 1.0% compared with Q2 2025 on an FOB Calcutta basis. The export market has been experiencing mild downward pressure as overseas buyers have been continuing cautious procurement strategies while monitoring global packaging demand trends.

Import demand from major regions including the North America and Europe has been remaining stable; however, buyers have been negotiating competitive pricing due to comfortable inventory levels.

Downstream sectors such as premium food packaging, electronics cartons, cosmetics packaging, and pharmaceutical boxes have been maintaining steady manufacturing activity as companies have been preparing for upcoming festive retail seasons.

Indian mills have been continuing to operate at consistent production rates to sustain export supply while protecting their competitiveness in international markets. Feedstock pulp costs have been remaining relatively stable during the quarter, providing limited influence on price fluctuations.

Seasonal procurement cycles linked to year-end packaging production have been gradually emerging but have been progressing at a measured pace. Overall, SBS Board export prices from India have been experiencing mild softening compared with Q2 2025 as balanced supply availability and cautious demand conditions have been influencing the market. On month on month basis, September 2025 prices have been stable compared to August 2025.

Thailand: Solid Bleached Sulfate (SBS) Board Imported Price CIF Laem Chabang, Thailand from India Madras Sea; Grade- Solid Bleached Sulfate (SBS) Board 230-380 GSM Both Side Coated Bulk (1.19-1.2)

In Q3 2025, Solid Bleached Sulfate (SBS) Board import prices in Thailand from India on a CIF Laem Chabang basis have been declining by 3% compared with Q2 2025. Throughout the quarter, import activity has been easing as Thai converters have been moderating procurement volumes following the stable pricing seen earlier.

Downstream sectors including food and beverage cartons, cosmetics packaging, pharmaceutical boxes, and consumer goods cartons have been maintaining steady production, yet short-term purchasing strategies have been dominating due to sufficient inventory levels.

Buyers have been monitoring global supply and competitive offers from other Asian suppliers while managing their storage capacity efficiently. Upstream factors such as bleached pulp costs and Indian mill operating rates have been remaining relatively stable, which has been limiting strong upward price movements.

Seasonal demand patterns have been gradually emerging as packaging production for the upcoming festive period has been ramping up, but overall buying activity has been cautious.

Overall, compared with Q2 2025, the Thai import market for SBS Board has been reflecting a modestly softer yet stable environment, with sufficient supply and measured buyer sentiment influencing the price decline. On month on month basis, September 2025 prices have been decreasing by 1% compared to August 2025.

Malaysia: Solid Bleached Sulfate (SBS) Board Imported Price CIF Kelang, Malaysia from India Madras Sea; Grade- Solid Bleached Sulfate (SBS) Board 230-380 GSM Both Side Coated Bulk (1.19-1.2)

In Q3 2025, Solid Bleached Sulfate (SBS) Board import prices in Malaysia from India on a CIF Kelang basis have been declining by 3.5% compared with Q2 2025. Throughout the quarter, import activity has been easing as Malaysian converters have been moderating procurement following stable pricing in Q2 2025.

Downstream sectors including food and beverage cartons, confectionery packaging, cosmetics boxes, and pharmaceutical cartons have been maintaining steady production, but overall purchasing has been cautious due to sufficient inventory levels. Buyers have been focusing on short-term orders while monitoring competitive offers from Indian and other Asian suppliers.

Upstream costs, including bleached pulp and mill operating rates in India, have been remaining relatively stable, which has been limiting strong price adjustments. Month-on-month, September 2025 import prices have been declining by approximately 1% compared with August 2025, reflecting cautious procurement toward the end of the quarter.

Overall, compared with Q2 2025, the Malaysian SBS Board import market has been softer yet stable, with balanced supply and careful buying influencing the price trend.

USA: Solid Bleached Sulfate (SBS) Board Imported Price CIF Houston, USA from India; Grade- Solid Bleached Sulfate (SBS) Board 230-380 GSM Both Side Coated Bulk (1.40-1.52)

In Q3 2025, Solid Bleached Sulfate (SBS) Board import prices in the USA for shipments from India on a CIF Houston basis have been declining by 2% compared with Q2 2025, indicating mild downward pressure on the market during the quarter.

Although downstream sectors such as food packaging, pharmaceutical cartons, cosmetics packaging, personal care boxes, and retail packaging have been maintaining steady production levels to support ongoing consumer demand, overall procurement by U.S. converters has been remaining cautious.

Buyers have been focusing on balanced purchasing strategies as sufficient inventory levels and competitive import offers from Asian suppliers have been influencing buying decisions. Upstream factors including bleached pulp costs and mill operating rates in India have been remaining relatively stable, which has been limiting strong price fluctuations across the supply chain.

While packaging production has been gradually increasing as manufacturers prepare for upcoming festive and holiday retail demand, purchasing activity has been progressing at a measured pace. On a month-on-month basis, September prices have declined by approximately 3% compared with August, reflecting cautious procurement toward the end of the quarter.

Overall, compared with Q2 2025, the U.S. import market for SBS Board has been reflecting a slightly softer but stable environment with balanced supply and measured buying activity.

United Kingdom: Solid Bleached Sulfate (SBS) Board Imported Price CIF Southampton, United Kingdom from India; Grade- Solid Bleached Sulfate (SBS) Board 230-380 GSM Both Side Coated Bulk (1.40-1.52)

In Q3 2025, Solid Bleached Sulfate (SBS) Board prices have been increasing slightly by 0.2% compared with Q2 2025, indicating a largely stable market environment during the quarter. Although downstream sectors such as food packaging, pharmaceutical cartons, cosmetics packaging, personal care boxes, and retail packaging have been maintaining steady production levels to support ongoing consumer demand, overall procurement by UK converters has been remaining cautious.

Buyers have been focusing on balanced purchasing strategies as sufficient inventory levels and competitive import offers from Asian suppliers have been influencing buying decisions. Upstream factors including bleached pulp costs and mill operating rates in India have been remaining relatively stable, which has been limiting strong price fluctuations across the supply chain.

While packaging production has been gradually increasing as manufacturers prepare for upcoming seasonal retail demand toward the end of the year, purchasing activity has been progressing at a measured pace.

On a month-on-month basis, September prices have been decreasing by 2% compared with August 2025. Overall, compared with Q2 2025, the UK import market for SBS Board has been reflecting a stable environment with balanced supply and measured buying activity.

Solid Bleached Sulfate (SBS) Board Price Trend Q4 2025

According to Price-Watch™, in Q4 2025, global Solid Bleached Sulfate (SBS) Board prices have been declining further, falling by 4.5% compared with Q3 2025. The market has been experiencing softer pricing conditions despite the seasonal peak in packaging production linked to year-end retail demand.

Packaging converters and brand owners in sectors such as confectionery packaging, cosmetics cartons, luxury gift boxes, and premium food packaging have been increasing production volumes to support holiday promotions and festive retail campaigns.

However, much of the required SBS board supply has already been secured earlier in the year, which has been limiting spot market procurement. Supply availability has been remaining ample as mills across major producing regions have been maintaining consistent operating rates and competitive export offers to sustain shipment volumes.

Feedstock pulp prices have been remaining relatively stable, which has been providing limited cost pressure for price increases. Export demand from Asia has been continuing, although buyers have been negotiating lower contract prices due to abundant supply availability. Seasonally, packaging consumption has been rising during the holiday period, but procurement has typically been occurring in earlier quarters.

Compared with Q3 2025, the market has been experiencing a more noticeable price decline as supply has been exceeding immediate buying interest. Overall, the global SBS board market in Q4 2025 reflected weaker pricing dynamics driven by adequate supply availability and cautious buyer sentiment despite steady downstream packaging production.

India: Solid Bleached Sulfate (SBS) Board Export Price FOB Calcutta, India; Grade- Solid Bleached Sulfate (SBS) Board 230-380 GSM Both Side Coated Bulk (1.40-1.52)

In Q4 2025, Solid Bleached Sulfate (SBS) Board export prices from India have been continuing to experience a modest strengthening trend, registering a 1.0% increase compared with Q3 2025 on an FOB Calcutta basis. Export trading activity has been benefiting from seasonal demand linked to global holiday retail consumption and year-end promotional campaigns.

Packaging converters across major importing regions have been increasing production of confectionery cartons, cosmetics packaging, premium gift boxes, electronics cartons, and food packaging to support strong consumer demand during the festive season.

Indian exporters have been maintaining stable shipment volumes while securing additional export inquiries from international buyers seeking timely deliveries. Feedstock pulp prices have been remaining relatively stable, allowing mills to sustain balanced cost structures while supporting modest price increases.

Indian paper manufacturers have been continuing to operate at steady production levels while focusing on fulfilling export commitments and maintaining consistent supply availability. Seasonal procurement cycles associated with festive retail promotions have been supporting steady export shipments throughout the quarter.

Overall, the SBS Board export market from India has been reflecting a balanced yet slightly positive trading environment compared with Q3 2025, with seasonal demand improvements and stable supply conditions contributing to the price increase. On month on month basis, December 2025 prices have been decreasing by 4% compared with November 2025.

Thailand: Solid Bleached Sulfate (SBS) Board Imported Price CIF Laem Chabang, Thailand from India Madras Sea; Grade- Solid Bleached Sulfate (SBS) Board 230-380 GSM Both Side Coated Bulk (1.19-1.2)

In Q4 2025, Solid Bleached Sulfate (SBS) Board import prices in Thailand from India on a CIF Laem Chabang basis have been continuing to soften slightly, declining by 1% compared with Q3 2025. Importers have been maintaining steady shipments while carefully managing procurement for year-end production cycles.

Downstream sectors such as gift packaging, confectionery cartons, premium food boxes, cosmetics packaging, and retail cartons have been sustaining production for holiday campaigns, but overall buying activity has been measured due to sufficient existing stock levels.

Buyers have been prioritizing short-term orders, taking advantage of competitive Indian export offers while monitoring other regional suppliers. Upstream costs, including bleached pulp and mill operating rates, have been remaining stable, limiting any strong upward pressure on import prices.

Overall, compared with Q3 2025, the Thai import market for SBS Board has been reflecting a slightly softer yet stable environment, with adequate supply, measured buying patterns, and steady upstream costs keeping prices under mild pressure. On month on month basis, December 2025 prices have been decreasing by 5% compared to November 2025.

Malaysia: Solid Bleached Sulfate (SBS) Board Imported Price CIF Kelang, Malaysia from India Madras Sea; Grade- Solid Bleached Sulfate (SBS) Board 230-380 GSM Both Side Coated Bulk (1.19-1.2)

In Q4 2025, Solid Bleached Sulfate (SBS) Board import prices in Malaysia from India on a CIF Kelang basis have been continuing to soften slightly, declining by 1% compared with Q3 2025. Throughout the quarter, importers have been maintaining steady shipments while managing procurement for year-end packaging demand.

Downstream sectors including gift packaging, confectionery cartons, premium food boxes, cosmetics packaging, and retail cartons have been sustaining production for holiday campaigns, but overall purchases have been measured due to adequate inventory.

Buyers have been prioritizing short-term orders while taking advantage of competitive Indian export offers. Upstream costs, such as bleached pulp and mill operating rates, have been remaining stable, limiting strong upward pressure on prices.

On Month-on-month basis, December import prices have been declining by 5% compared with November. Overall, compared with Q3 2025, the Malaysian SBS Board import market has been slightly softer yet steady, with balanced supply, careful purchasing, and stable upstream costs keeping prices under mild pressure.

USA: Solid Bleached Sulfate (SBS) Board Imported Price CIF Houston, USA from India; Grade- Solid Bleached Sulfate (SBS) Board 230-380 GSM Both Side Coated Bulk (1.40-1.52)

In Q4 2025, Solid Bleached Sulfate (SBS) Board import prices in the USA for shipments from India on a CIF Houston basis have been declining by 4.5% compared with Q3 2025, indicating continued pressure on the market during the year-end period.

Although downstream sectors such as food and beverage packaging, confectionery cartons, cosmetics packaging, gift packaging, and retail cartons have been maintaining stable production for holiday sales and promotional campaigns, overall procurement by U.S. converters has been remaining cautious. Buyers have been focusing on short-term purchasing strategies due to sufficient stock levels and competitive import offers from other Asian suppliers.

Upstream factors including bleached pulp and Indian mill operating rates have been remaining relatively stable, which has been limiting upward price pressure across the supply chain. Despite the seasonal rise in packaging demand associated with year-end retail consumption, supply availability has been sufficient to keep prices under notable pressure.

On a month-on-month basis, December prices have declined by approximately 5% compared with November as purchasing activity has slowed toward the close of the year. Overall, compared with Q3 2025, the U.S. import market for SBS Board has been reflecting a softer but steady environment with measured buying and stable supply conditions.

United Kingdom: Solid Bleached Sulfate (SBS) Board Imported Price CIF Southampton, United Kingdom from India; Grade- Solid Bleached Sulfate (SBS) Board 230-380 GSM Both Side Coated Bulk (1.40-1.52)

In Q4 2025, Solid Bleached Sulfate (SBS) Board prices have been rising sharply by 9.0% compared with Q3 2025, reflecting strong upward pressure on the market during the quarter. Although downstream sectors such as food packaging, pharmaceutical cartons, cosmetics packaging, personal care boxes, and retail packaging have been maintaining firm production activity to support heightened demand during the festive and holiday retail season, procurement activity among UK converters has been strengthening.

Buyers have been increasing purchasing volumes to secure adequate supply amid firmer market conditions and higher supplier offers. Upstream factors including bleached pulp costs and mill operating expenses in India have been remaining firm, which has been contributing to the upward price movement across the supply chain.

While packaging production has been continuing to expand to meet strong seasonal retail demand, purchasing activity has been remaining active throughout the quarter. On a month-on-month basis, December 2025 prices have decreasing by 5% compared with November 2025. Overall, compared with Q3 2025, the UK import market for SBS Board has been reflecting a significantly firmer market environment with stronger demand and rising import prices.