Recently, the two major paper markets in Europe and the United States have released signals of weak demand. With the easing of the tension on the global pulp supply side, paper enterprises are expected to gradually control the voice of pulp prices. With the improvement of pulp supply, the high pulp price caused by the tight supply in the first half of the year is unlikely to be sustained. The impact of the macroeconomic downturn on demand may be fully manifested. The pulp price is expected to fall in Q4 this year, and the profits of domestic paper enterprises that rely on imported pulp may usher in repair opportunities.