Near-term outlook


Estimated in Half-Year Financial Report 2019


Metsä Board's paperboard deliveries in the third quarter are expected to be roughly at the same level as in the second quarter of the year.

The prices of folding boxboard are expected to remain stable. The market situation for linerboards is more uncertain which may have an impact on the average prices of Metsä Board's kraftliner in the third quarter. 

The development of the global pulp market remains uncertain over the short term. However, the production curtailments announced by some pulp producers, as well as annual maintenance shutdowns scheduled for the third quarter, will balance the ratio between demand and supply. Producers' global stock levels continue to be high. The decrease in long-fibre pulp prices has stopped in China. In Europe, market prices decreased throughout the first half of the year, which will have a negative effect on the result of the second half of the year.

Annual maintenance shutdowns are scheduled for the third quarter at the Kemi integrated mill and Metsä Fibre's pulp mill in Rauma. The annual maintenance shutdown at the Husum integrated mill will begin at the end of September and end at the beginning of October, meaning that its negative impact on the result will be divided between the third and fourth quarters.

Production costs are expected to remain stable.

Changes in exchange rates, including the impact of hedges, during the third quarter will have a neutral effect compared with the second quarter and a clearly positive effect compared with the corresponding period in the previous year.