Suzano’s shares advanced more than 4% and led the high Ibovespa this Friday (24), after a new increase in the price of pulp sold by the company.
Bradesco BBI analysts mentioned in a report by Risi that the company announced an increase in hardwood pulp prices by US$ 20 per ton for Asia, US$ 30 for Europe and US$ 40 for North America.
The adjustments take effect on July 1st and follow sequential increases that occurred in previous months.
“Suzano’s price increase initiative corroborates our more positive and non-consensual view on the dynamics of the pulp market for the rest of 2022 and 2023”, stated Thiago Lofiego and the team of analysts at Bradesco BBI in a report.
At around 10:25 am, Suzano shares were up 4.65% to R$47.75, while the Ibovespa rose 0.35%.
In June, Suzano increased its prices for North America by US$ 60, to US$ 1,580 a ton, while for Europe the adjustment was from US$ 50, to US$ 1,350.
The increases were decided a few days after the company, the world’s largest producer of eucalyptus pulp, raised the price of the commodity for customers in Asia by US$ 30.
Source: CNN Brasil
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