HK Stock Market Move | ND PAPER(02689) is currently up more than 4%. Shandong Chenming Paper has been forced to limit production by over 70%. Industry prices are generally rising and inspections and repairs are causing some factories to stop operation.
Nine Dragons Paper (02689) is now up more than 4%, as of the time of writing, it is up 3.8%, at 3.28 Hong Kong dollars, with a turnover of 12.5476 million Hong Kong dollars.
ND PAPER (02689) is now up more than 4%, as of press time, up 3.8%, at 3.28 Hong Kong dollars, with a turnover of 12.5476 million Hong Kong dollars.
On the news front, Shandong Chenming Paper announced that due to the downturn in the paper industry, the company is facing a debt default of up to 2.394 billion yuan. As a result, about 71.7% of production capacity has been forced to stop or limit production, affecting monthly pulp production by about 580,000 tons and paper sales by about 350,000 tons. The company is actively raising working capital and resuming production.
It is reported that since October, many paper enterprises have implemented one or multiple price increases, and paperboard markets in various regions have followed suit. At the same time, many enterprises have announced shutdowns for maintenance. Analysts say that in November, "price increases + shutdowns for maintenance" will become the theme of the paper industry.
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