Message-ID: <27336966.1075853159517.JavaMail.evans@thyme> Date: Tue, 14 Aug 2001 09:25:46 -0700 (PDT) From: monika.causholli@enron.com To: e..carter@enron.com Subject: RE: Pulp Update: Inventory Rise in July Well Below Average; Goldman Sachs High Yield Research; 8/14/01 Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Causholli, Monika X-To: Carter, Karen E. X-cc: X-bcc: X-Folder: \MCAUSHOL (Non-Privileged)\Deleted Items X-Origin: Causholli-M X-FileName: MCAUSHOL (Non-Privileged).pst This is just from GS, the market data is not out yet -----Original Message----- From: Carter, Karen E. Sent: Tuesday, August 14, 2001 11:22 AM To: Causholli, Monika Cc: Allan, David Subject: RE: Pulp Update: Inventory Rise in July Well Below Average; Goldman Sachs High Yield Research; 8/14/01 Monika, Is this proprietary data from Goldman or is it data which is already available in the market, i.e. via CEPI? Thanks. KC -----Original Message----- From: Causholli, Monika Sent: Tuesday, August 14, 2001 10:24 AM To: Aguilera-Peon, Maria Teresa; Allan, David; Biggerstaff, Finley; Boudreaux, Jay; Bruch, Greg; Bryja, James; Carter, Karen E.; Conner, Andrew R.; Crane, Bob; Dimitry, Dirk; Rickard, Craig; Robinson, Richard T.; Stapley, Cecil Subject: FW: Pulp Update: Inventory Rise in July Well Below Average; Goldman Sachs High Yield Research; 8/14/01 -----Original Message----- From: Velez, Luis Sent: Tuesday, August 14, 2001 10:24 AM To: Causholli, Monika Subject: FW: Pulp Update: Inventory Rise in July Well Below Average; Goldman Sachs High Yield Research; 8/14/01 -----Original Message----- From: Stivaletti, Joe [mailto:joe.stivaletti@gs.com] Sent: Tuesday, August 14, 2001 10:22 AM To: Stivaletti, Joe Subject: Pulp Update: Inventory Rise in July Well Below Average; Goldman Sachs High Yield Research; 8/14/01 Pulp Update: Inventory Rise in July Well Below Average; Goldman Sachs High Yield Research; 8/14/01 Norscan pulp inventories rose just 4,000 tonnes in July, which is well below the typical seasonal increase of approximately 150,000 tonnes. Amidst all the bad news about the pulp environment, this is good news. Producer downtime is certainly helping. However, pulp prices remain quite weak, and inventories of 1.78 million tonnes are still too high to allow for any tightening of supply and demand in the short term. We will distribute details of the July pulp report once they are available. Joe Stivaletti Goldman, Sachs, & Co. High Yield Research 85 Broad Street, 29th floor New York, NY 10004 (212) 902-3299