World's largest eucalyptus pulp producer with structural cost advantage but operating in a commodity cycle near the trough. Cerrado mega-project added 2.55M tonnes capacity in 2024 putting near-term pressure on pulp prices. Asian (Chinese) demand has been the swing factor — current weakness pressures prices but Cerrado's low cash cost remains the moat.
Thesis reviewed May 29, 2026
Suzano SA is headquartered in Brazil, which is currently showing moderate signals.
🇧🇷Brazil48NEUTRALView Brazil risk detail →🧱Materials18WATCH| Ticker | Company | Score | Gap | Signal Δ | Action |
|---|---|---|---|---|---|
| SHW | The Sherwin-Williams Company | 24 | +2% | ↓7% | NEUTRAL |
| PPG | PPG Industries, Inc. | 24 | +1% | ↓7% | NEUTRAL |
| NUE | Nucor Corporation | 24 | +11% | ↓7% | EARLY |
| LIN | Linde plc | 24 | +10% | ↓7% | EARLY |
| ECL | Ecolab Inc. | 24 | +2% | ↓7% | NEUTRAL |
| APD | Air Products and Chemicals, Inc. | 24 | -9% | ↓7% | AVOID |
| DD | DuPont de Nemours, Inc. | 24 | +6% | ↓7% | EARLY |
Investors who hold SUZBY may also have indirect exposure through these country funds.
Hardwood pulp BHKP prices stabilize around $640/t after recent weakness
Cerrado mill ramping to full capacity; unit costs below guidance
China pulp inventories at port hit multi-year highs