For the Quarter Ending March 2026
Kraft Paper Prices in APAC
- In India, the Kraft Paper Price Index fell by 2.28% quarter-over-quarter, reflecting modest cost-driven pass-through.
- The average Kraft Paper price for the quarter was approximately USD 410.87/MT on delivered basis.
- Kraft Paper Spot Price remained flat as distributors absorbed input cost increases, maintaining competitive availability.
- Kraft Paper Price Forecast projects modest volatility as list increases face cautious buyer restocking activity.
- Kraft Paper Production Cost Trend reflects rising imported wastepaper, coal and freight costs pressuring margins.
- Kraft Paper Demand Outlook steady as FMCG and e-commerce packaging demand offsets subdued industrial offtake.
- Kraft Paper Price Index showed mild firmness as mills limited forward bookings amid cost uncertainty.
- High distributor inventories and delayed imports constrained upside despite export interest, keeping pricing pressures controlled.
Why did the price of Kraft Paper change in March 2026 in APAC?
- Rising imported wastepaper and coal costs reduced mill margins, prompting mills to raise offers domestically.
- Geopolitical tensions and higher freight plus insurance costs lengthened supply chains, elevating landed feedstock prices.
- Strong FMCG and e-commerce baseline demand absorbed supply, yet high distributor inventories tempered price escalation.
Kraft Paper Prices in North America
- In the United States, the Kraft Paper Price Index showed a slight decline to stable trend quarter-over-quarter, reflecting mixed demand and improving supply conditions.
- The average Kraft Paper Price Index remained moderate, supported by steady packaging demand from e-commerce and logistics sectors.
- Kraft Paper Spot Price remained range-bound as higher operating rates and inventory normalization balanced demand.
- Kraft Paper Price Forecast indicates stable to mildly firm trends, supported by gradual recovery in packaging demand and improving pulp prices.
- The Kraft Paper Production Cost Trend remained slightly elevated due to energy, freight, and labor cost pressures impacting margins.
- Kraft Paper Demand Outlook remained stable, driven by corrugated packaging, food-grade sacks, and e-commerce shipments.
- The Kraft Paper Price Index showed mild recovery in March after earlier softness, supported by producer price adjustments and improving order flows.
- Production levels declined slightly due to capacity rationalization, tightening supply in parts of the market.
Why did the price of Kraft Paper change in March 2026 in North America?
- Price increased slightly due to producer-led price hikes and improving demand from packaging sectors.
- Earlier inventory build-up eased, tightening supply conditions.
- Rising energy and logistics costs supported upward pressure on the Price Index.
Kraft Paper Prices in Europe
- In Europe, the Kraft Paper Price Index remained stable to slightly firm quarter-over-quarter, reflecting balanced demand and rising cost pressures.
- Kraft Paper Spot Price remained firm as controlled supply and steady industrial packaging demand supported pricing.
- Kraft Paper Price Forecast suggests mild firmness driven by pulp cost recovery and sustainable packaging demand growth.
- The Kraft Paper Production Cost Trend increased due to higher energy prices, environmental compliance costs, and pulp price recovery.
- Kraft Paper Demand Outlook remained stable, supported by retail packaging, industrial goods, and sustainability-driven substitution for plastics.
- The Kraft Paper Price Index in March showed a slight increase, reflecting cost-push factors and steady consumption.
- Supply remained controlled due to production discipline and reduced import arbitrage.
Why did the price of Kraft Paper change in March 2026 in Europe?
- Prices increased due to rising energy and pulp costs, which elevated production expenses.
- Stable demand from packaging and retail sectors supported pricing.
- Controlled supply and limited imports maintained upward pressure on the Price Index.
For the Quarter Ending December 2025
North America
- The Kraft Paper Price Index in North America showed a stable-to-firm trend during Q4 2025, supported by controlled mill output, disciplined inventory management, and resilient packaging demand despite broader macroeconomic uncertainty.
- Production costs stayed elevated due to high labour expenses, maintenance costs, and chemical inputs.
- North American kraft paper mills maintained balanced operating rates, with no major outages reported. Producers focused on operational discipline rather than volume expansion, preventing oversupply.
- E-commerce, food & beverage, and consumer staples supported baseline kraft paper consumption, offsetting weaker demand from discretionary retail and construction-related packaging.
Why did the price of Kraft Paper change in December 2025 in North America?
- In December 2025, Kraft Paper prices remained largely stable with a slight upward bias, as mills successfully defended price levels amid steady boxboard and paper demand, while buyers limited pushback due to already lean inventories.
- The Kraft Paper Spot Price held firm in December, with limited spot availability as most volumes were tied to contracts. Any incremental spot transactions reflected steady pricing rather than discounts.
- The Kraft Paper Demand Outlook remained steady, driven by corrugated packaging, food-grade sacks, and e-commerce shipments, while construction-linked sack paper demand softened seasonally.
APAC
- In India, the Kraft Paper Price Index rose by 0.31% quarter-over-quarter, supported by packaging demand.
- The average Kraft Paper price for the quarter was USD 420.46/MT, reflecting steady domestic demand.
- Kraft Paper Spot Price movements were muted quarter, reflecting balanced stocks and steady converter demand.
- Kraft Paper Production Cost Trend saw movement as recovered paper normalized and coal premiums stabilized.
- Kraft Paper Demand Outlook anticipates gradual normalization post-festival, with FMCG and e-commerce demand easing moderately.
- Kraft Paper Price Forecast shows marginal volatility driven by inventory adjustments and logistics cost movements.
- Kraft Paper Price Index weakened marginally as mills offered discounts to clear stocks before year-end.
- Regional mills operated near nameplate capacity, supporting availability while selective end-quarter discounts aided stock liquidation.
Why did the price of Kraft Paper change in December 2025 in APAC?
- Eased imported recovered paper arrivals relieved feedstock constraints, reducing mills' urgency to maintain elevated prices.
- Post-festive demand moderation among corrugators reduced buying, prompting sellers to offer discounts to clear inventories.
- Road freight and captive coal costs limited upward pressure, allowing mills to hold prices steady.
Europe
The Kraft Paper Price Index in Europe showed a soft-to-stable trend in Q4 2025, with prices largely range-bound through October and November before easing slightly in December 2025.
Kraft Paper Spot Price pressure emerged late in the quarter as year-end demand slowed and buyers reduced inventories.
Why did the price of Kraft Paper change in December 2025 in Europe?
The price decrease in December 2025 was driven by weaker packaging demand, customer destocking, and limited ability of producers to fully pass through costs.
Overall sentiment remained cautious, reflecting balanced supply and restrained downstream activity.
Industrial and construction-linked paper usage remained subdued across much of Europe.
Despite short-term softness, structural demand from sustainable packaging substitution continued to support baseline consumption.
For the Quarter Ending September 2025
North America
- The U.S. Kraft-paper Price Index remained firm through Q3 2025, with headline containerboard and kraft packaging prices holding steady into August–September after mid-year tightness. Market trackers and price charts show US kraft/packaging grades trading at elevated levels versus early-2025 lows.
- Demand was moderately strong — stable food packaging requirements, steady e-commerce volumes, and retail stocking helped sustain offtake. Growth in sustainable and recycled packaging formats continued to underpin structural demand for kraft grades.
Why did the price of Kraft Paper change in September 2025 in North America?
- Prices increased modestly / stayed firm in September because resilient demand from food, e-commerce and retail packaging met tighter regional supply caused by mill conversions/closures and logistical bottlenecks; producers also passed through higher operating costs. These factors combined to support the Price Index in late Q3.
- The near-term Kraft paper Demand Outlook is positive-to-stable entering Q4 2025 given holiday season stocking, ongoing e-commerce demand and investments in recycled packaging; downside risks include consumer spending softness and further large-scale order cancellations.
APAC
- In India, the Kraft Paper Price Index fell by 1.223% quarter-over-quarter, amid weak demand, delayed payments.
- The average Kraft Paper price for the quarter was approximately USD 419.16/MT, per regional assessments.
- Kraft Paper Spot Price remained pressured as buyers delayed purchases amid high input logistics costs.
- Kraft Paper Price Forecast suggests festival-driven recovery tempered by constrained export demand and inventory adjustments.
- Kraft Paper Production Cost Trend reflects upward pressure from wood pulp, transportation, rupee weakness, import tariffs.
- Kraft Paper Demand Outlook remains mixed with festival stocking supporting volumes while industrial demand subdued.
- Kraft Paper Price Index volatility eased after August hike as mills managed inventories and normalized dispatches.
- Export orders softened while domestic inventories increased slightly, pressuring margins despite steady mill production levels.
Why did the price of Kraft Paper change in September 2025 in APAC?
- Supply tightened as wastepaper deliveries fell, and vendors withheld material due to unpaid dues recently.
- Demand weakened as downstream buyers delayed payments and purchases, reducing order flow across packaging converters.
- Rising input costs, rupee depreciation and import tariffs elevated production costs, constraining mill margin recovery.
Europe
- Europe’s Kraft Paper Price Index was largely stable to mildly positive in Q3 2025 as slack industrial demand was balanced by steady packaging and e-commerce volumes.
- Ample supply persisted due to uninterrupted mill operations across many European hubs; inventories remained sufficient and capped upside for the Price Index despite pockets of logistical tightness that supported spot premiums.
Why did the price of Kraft Paper change in September 2025 in Europe?
- Weaker industrial and sack-grade demand (order books softened), which eased transactional pricing and limited Price Index gains.
- Persistent demand from e-commerce and FMCG packaging plus higher energy/transport and some log cost pressure, which prevented deeper declines and kept the Price Index broadly stable.
- Port/logistics bottlenecks in specific hubs created short, localized spot support.
- Kraft paper Price Forecast for Q4 2025: expect stable to mildly positive Price Index movement absent a major energy or logistics shock. Any upside will be selective (specialty grades, brief spot shortages); downside risk stems from renewed industrial weakness.
For the Quarter Ending June 2025
North America
- The Kraft Paper Price Index in North America showed a mixed trend throughout Q2 2025, remaining steady during April and May.
- Kraft Paper Production stayed robust, with mill operating rates around 86.5%, which led to rising inventories as demand failed to keep pace with supply.
- In June, the Kraft Paper Price Index edged higher driven by an uptick in e-commerce demand, increased input costs including volatile energy expenses and pulp prices, and new import tariffs on key inputs tightening overall supply.
- Capacity reductions in North America removed approximately 5–6% of total kraft output from the market, contributing to supply constraints.
Why did the price of Kraft Paper chang in July 2025 in North America?
- The Kraft Paper Spot Price increased in July 2025, primarily due to rising production costs and tighter supply.
- The Kraft Paper Price Forecast anticipates further upward pressure on prices in the near term, influenced by ongoing input cost volatility and supply-demand imbalances.
- The Kraft Paper Production Cost Trend continues to rise, driven by higher energy and raw material prices.
- Overall, the Kraft Paper Demand Outlook remains cautious but may improve if tariff uncertainties ease and supply stabilizes.
APAC
- In April 2025, the Kraft Paper Price Index in Asia was stable due to balanced supply and demand amid a seasonal slowdown in packaging; the Kraft Paper Spot Price reflected steady market sentiment.
- Mills maintained regular output with no raw material disruptions; inventories were moderate, supported by domestic recycling.
- Demand was steady but subdued, with short-term purchases and baseline e-commerce consumption.
- In May 2025, the Price Index rose ~5%, driven by limited wastepaper availability from hot weather and reduced imports, causing supply shortages and operational challenges.
- Mills operated 18–20 days monthly with frequent shutdowns; the Kraft Paper Production Cost Trend showed upward pressure due to scarce, costlier local wastepaper.
- Demand remained weak, with cautious buying amid tight cash flows; however, a trader survey expressed optimism for improved Kraft paper demand.
- In June 2025, the Price Index fell 1.4% due to weak demand, payment crises, and supply disruptions.
- Wastepaper deliveries tightened further as vendors withheld supplies over unpaid dues; rising input costs and ended shutdowns increased production pressures.
- Demand stayed subdued with minimal activity and payment delays worsening the situation; seasonal box production provided limited support, but overall Kraft Paper Demand Outlook remained weak.
Why did the price of Kraft Paper chang in July 2025 in Asia?
- The Kraft Paper Spot Price in July 2025 influenced by continued raw material constraints and fragile demand, with potential for modest price stabilization.
- The Kraft Paper Price Forecast suggests cautious optimism but highlights risk from cost volatility and payment issues.
- The Kraft Paper Production Cost Trend is anticipated to remain upward due to ongoing input cost inflation.
- Overall, the Kraft Paper Demand Outlook remains cautious with possible gradual improvement if economic conditions and raw material supply stabilize.
Europe
- The European Kraft Paper Price Index trended upward from April to June 2025, driven by rising production costs, tariff impacts, and improving demand from packaging and e-commerce.
- Mills raised prices due to escalating costs in pulp, energy, and logistics, with most hikes partially accepted after negotiations.
- Supply was constrained by production delays and scheduled maintenance.
- New US tariffs and global trade tensions pressured exports, contributing to regional price corrections.
- While bleached eucalyptus pulp prices dipped slightly, gains were offset by higher power and freight costs.
- Demand from FMCG, packaging, and online retail sectors sustained positive market momentum.
Why did the price of Kraft paper change in July 2025 in Europe?
- In July 2025, the Kraft Paper Price Index in Europe rose further, extending the previous quarter’s upward trend. The increase was driven by sustained industrial demand and continued supply-side cost pressures.
- While pulp prices began to stabilize, other raw material and logistics costs remained high due to global supply chain issues.
- Capacity constraints and mill backlogs limited availability, especially in sack and specialty grades, enabling producers to maintain and pass on price hikes.
