Pulp markets weakened substantially during the third quarter 2011, precipitated by seasonally slower demand during the summer as well as weak underlying demand in key markets such as Western Europe and the U.S. due to sluggish economic conditions around the world. The weakness in demand was compounded by a fall off in shipment levels to China. Strong Chinese pulp buying was a key driving force behind the extremely bullish market conditions prevalent for the first two quarters of 2011.
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