It's growing legs! Our Canfor Pulp share price has doubled from the year-low, same for Mercer, but CFX is nowhere near its prior peaks! In my view there's another double possible with the pulp prices rising as they are, pulled by demand. At 2x book, a clean book, this is a $16.50 stock. This nbsk boom seems more powerful than 1995 and 2000. I believe the demand is becoming more structural, less cyclical, with tissue and fiber-based packaging behind it.
Here is the latest Shanghai pulp future chart:
https://www.barchart.com/futures/quotes/VLH21/overview
That's a BIG 45% price rise in China from Nov2 to Feb1 !!
It's rising in the States and Europe too:
https://twitter.com/FastmarketsRISI/status/1355313619244875784
Many contract increases are kicking in from today Feb.1
If you've tried to buy a few shares, just a few, you may notice that the price easily run away from bids... You can spot-check the tape at tmx here, for fun:
https://money.tmx.com/en/quote/CFX/trade-history
One can wait for Q4 results, but one may miss the train