Pulp Price Trend and Forecast 2026-2027

Market Overview

The US remained the priciest pulp market through the first half of 2026, climbing 4.8% from USD 1,542/MT in Q1 to USD 1,616/MT in Q2 as tissue demand stayed solid against softwood supply that kept getting tighter. Globally, prices moved from USD 782/MT to USD 812/MT, up 3.8%. A range of USD 795 to 870/MT looks reasonable for H2 globally, with tissue demand and limited hardwood export availability doing most of the work. Pulp itself comes from separating cellulose fibres out of wood, either chemically through the kraft or sulphite process or mechanically, giving you bleached softwood kraft and bleached hardwood kraft grades that anchor most of the world's paper and packaging supply chain. Softwood gives long fibres, good for strength and bonding. Hardwood gives short fibres, better for smoothness. Most demand comes from tissue and hygiene paper, where mills blend both grades for absorbency and softness, and printing paper and packaging board pick up the rest. Three things really move this market: wood fibre costs, how mills are running on maintenance and capacity, and the broader paper demand cycle.

Pulp Price Forecast for 2026

The H2 trend is going to stay mixed, firm in some places and softer in others. The Softwood faces a tightening floor, mill maintenance shutdowns and the limited fibre supply are cutting into fresh output, while hardwood stays more exposed to ample South American export volumes. The tissue demand is the only one constant holding up both grades.

An extended stretch of mill maintenance shutdowns, or a wood fibre supply disruption, would push softwood costs above this range. A broader slowdown in paper and packaging demand, or a surge in South American hardwood exports, would ease buying and bring prices down.

For the Quarter Ending June 2026

Pulp Prices Q2 2026:

• China: 718 USD/MT
• Europe: 1,238 USD/MT
• United States: 1,616 USD/MT
• India: 689 USD/MT
• Brazil: 628 USD/MT

Pulp Prices in China

China ticked up 2.3% to USD 718/MT from USD 702/MT. Still the cheapest market here, barely moving either way.

Why did the price of Pulp change in Q2 2026 in China?

Tissue manufacturers restocked modestly as post-holiday inventories normalised. Ample imported stock, both softwood and hardwood, kept a lid on how far that recovery could actually run.

Pulp Prices in Europe

Europe firmed 3.5% to USD 1,238/MT from USD 1,196/MT, mostly on continued mill downtime rather than any demand surge.

Why did the price of Pulp change in Q2 2026 in Europe?

Extended maintenance shutdowns at Nordic mills limited fresh softwood output. Demand from tissue and hygiene paper blending stayed firm throughout, giving producers room to push prices up rather than hold them flat.

Pulp Prices in United States

The US rose 4.8% to USD 1,616/MT from USD 1,542/MT, the biggest quarterly move in this report.

Why did the price of Pulp change in Q2 2026 in United States?

Consumer hygiene demand stayed resilient, keeping tissue manufacturers buying at pace. Softwood tightened at the same time as maintenance shutdowns cut into fresh mill output, and those two forces together pushed prices higher.

Pulp Prices in India

India edged up 2.5% to USD 689/MT from USD 672/MT, tracking the firmer global benchmark more than any local story.

Why did the price of Pulp change in Q2 2026 in India?

Import-linked pricing simply followed the firmer global benchmark. Domestic packaging and printing paper producers kept procurement steady near USD 689/MT without much drama.

Pulp Prices in Brazil

Brazil firmed 2.3% to USD 628/MT from USD 614/MT, a modest move reflecting steady rather than dramatic conditions.

Why did the price of Pulp change in Q2 2026 in Brazil?

Export demand from Asian and European tissue producers held steady all quarter. Eucalyptus harvest conditions stayed stable too, which kept the production floor from moving much in either direction.

For the Quarter Ending March 2026

Pulp Prices Q1 2026:

• China: 702 USD/MT
• Europe: 1,196 USD/MT
• United States: 1,542 USD/MT
• India: 672 USD/MT
• Brazil: 614 USD/MT

Pulp Prices in China

China actually eased 3.6% to USD 702/MT from USD 728/MT in Q4, bucking the broader trend of rising pulp prices elsewhere.

Subdued manufacturing activity and cautious post-holiday buying from packaging, tissue, and fine paper producers kept a lid on demand, while ample imported inventory capped any real upside.

Timber, wood chip, freight, and energy costs all rose during the quarter, but weak downstream consumption meant those increases weren't fully passed through. That's why prices stayed soft near USD 702/MT rather than climbing along with everyone else.

Why did the price of Pulp change in Q1 2026 in China?

Subdued manufacturing activity and cautious post-holiday procurement kept buying limited. Weak downstream consumption outweighed rising upstream costs this quarter.

Pulp Prices in Europe

Europe rose 4.6% to USD 1,196/MT from USD 1,144/MT.

Softwood grades firmed as reduced pulp availability and planned maintenance at regional facilities constrained fresh supply through the quarter.

Tissue and hygiene paper blending demand stayed steady, giving producers enough room to push through modest increases even as broader European industrial activity stayed soft.

Why did the price of Pulp change in Q1 2026 in Europe?

Reduced availability and planned mill maintenance constrained supply. Steady tissue demand supported the modest increase despite broader industrial softness.

Pulp Prices in United States

The US climbed 5.5% to USD 1,542/MT from USD 1,462/MT.

Domestic tissue manufacturers ramped up production to keep pace with resilient consumer hygiene demand, and specialty paper producers kept their offtake steady too.

Maintenance shutdowns at major mills tightened supply-side conditions at the same time. That combination is really what pushed prices to USD 1,542/MT.

Why did the price of Pulp change in Q1 2026 in United States?

Resilient consumer hygiene demand pushed tissue manufacturers to ramp up production. Mill maintenance shutdowns tightened supply at the same time.

Pulp Prices in India

India eased 2.6% to USD 672/MT from USD 690/MT.

Increased availability from South American producers, particularly Brazil and Chile, eased import pricing pressure for Indian mills through the quarter.

Demand stayed stable but cautious, mills managed inventory carefully amid moderate consumption, and buyers followed a measured approach rather than chasing the market.

Why did the price of Pulp change in Q1 2026 in India?

Increased South American export availability eased import pricing pressure. Indian mills followed a cautious buying approach given the moderate demand backdrop.

Pulp Prices in Brazil

Brazil eased 1.9% to USD 614/MT from USD 626/MT.

Ample eucalyptus harvest volumes and steady mill operating rates kept export supply comfortable, easing pricing power for Brazilian producers this quarter.

Export demand into China and Europe stayed moderate but cautious. Buyers were maintaining measured purchasing amid broader softness in the downstream paper sector.

Why did the price of Pulp change in Q1 2026 in Brazil?

Ample harvest volumes and steady operating rates kept export supply comfortable. Export demand into key markets stayed moderate but cautious through the quarter.

Quarterly Pulp Price Trends

Pulp firmed steadily through 2025 on tissue demand recovery and tightening softwood supply, eased a touch in Q1 2026 as hardwood availability improved, then firmed again in Q2. USD 738/MT in Q2 2025, USD 758/MT in Q3, USD 771/MT in Q4, USD 782/MT in Q1 2026, then USD 812/MT in Q2. That's a 10.0% gain across the window, and softwood supply tightness alongside resilient tissue demand explains nearly all of it.

What was Pulp Price in 2025?

2025 was a steady climb for pulp, tissue demand recovery paired with softwood mill output that kept tightening bit by bit rather than all at once. The global average opened near USD 712/MT in Q1 and closed at USD 771/MT by Q4, up 8.3%. Hygiene paper demand stayed resilient all year while softwood supply gradually tightened, though hardwood grades stayed comparatively better supplied throughout.

Pulp Prices in China in 2025

China moved from about USD 675/MT to USD 728/MT by Q4, up 7.9%. Tissue and packaging demand recovered through the year and import costs firmed alongside it, though ample imported inventory kept the pace of gains fairly modest.

Pulp Prices in Europe in 2025

Europe rose from USD 1,062/MT to USD 1,144/MT, up 7.7%. Mill maintenance downtime and recovering tissue demand drove most of the move, with energy-elevated production costs adding further pressure through the year.

Pulp Prices in United States in 2025

The US climbed from USD 1,362/MT to USD 1,462/MT, a 7.3% rise. Resilient hygiene paper and tissue demand met firming softwood supply constraints, with mill maintenance shutdowns adding cost pressure into the closing quarter.

Pulp Prices in India in 2025

India rose from USD 645/MT to USD 690/MT, up 7.0%. Domestic paper-sector demand kept growing and import benchmark costs firmed in step, a reminder of how exposed India's import dependency leaves it to global softwood cycles.

Pulp Prices in Brazil in 2025

Brazil climbed from USD 585/MT to USD 626/MT, up 7.0%. Steady export demand into Asian and European tissue markets, combined with stable eucalyptus harvest conditions, kept Brazil's cost advantage intact all year.

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Wood fibre costs, mill maintenance schedules, capacity utilisation, downstream tissue and paper demand, these are the things that actually decide where pulp prices land, and we track all of them across every major producing and consuming region. Reporting a number without the reasoning behind it isn't worth much to a buyer. Contact us for pulp pricing data, custom analysis, or procurement advisory built around how your business actually sources.