Changes in Hong Kong stocks | Most paper stocks fall, supply exceeds demand, and it is difficult to reverse institutional paper prices or continue to operate under pressure

The Zhitong Finance App learned that most paper stocks were lower. As of press release, Nine Dragons Paper (02689) fell 2.9% to HK$6.02; Lee & Man Paper (02314) fell 2.55% to HK$3.44.

According to the news, according to Zhuochuang News, as of September 17, the theoretical monthly gross margin of China's corrugated paper industry fell 1.48 percentage points month-on-month, putting further pressure on the industry's profit level. Although the cost and paper price fell simultaneously during the month, the decline in the price of corrugated paper was clearly greater than the cost decline, which became the core driver for the continuous narrowing of gross margin. The pattern of oversupply over demand will be difficult to reverse until the end of September. Paper prices may continue to operate under pressure, and the industry's theoretical gross margin is still expected to narrow further. Looking ahead to the future market, the corrugated paper market will still face a pattern of weak supply and demand until the end of September.