(www.chinapaperonline.com) On June 11, Chinese authorities released the 8^th lot of recovered paper import allocation. Without surprise to the market, the approved volume was as little as less than 17,000 metric tons, benefiting only three Chinese paper companies – one in the north and two in the south.
Lee&man (Dongguan) was granted much of the volume, leaving only 6,000 metric tons for Laizhou Lutong Specialty Paper in Shandong and Tongliding Paper in Guangdong.
More market observers believe approval and release of recovered paper import quota by the Chinese government will remain slow in process and relatively small in volume in the 2nd half of the year, indicating a growing likelihood of volume cuts to less than 12 million metric tons for full year 2019.