Cash flow from operating activities amounted to -32 million Kronor for the first quarter of 2012 (-25). This negative cash flow is largely explained by investments implemented at the end of 2011 being paid for at the start of 2012.The price (in Dollar) for chemical pulp is increasing and price increases of 20-30 Dollars per ton have been announced for April. However, the average price in Kronor during the first quarter was less than it was in the fourth quarter of 2011, rottneros writes in its first quarter report.Global stock levels for pulp are falling and deliveries of pulp to Asia are strong. There has simultaneously been a reduction in the cost of timber and electricity, which has a positive impact on margins, Rottneros writes.”The beginning of 2012 was significantly more stable than the end of 2011 from the perspective of a pulp supplier,” said Ole Terland, CEO of Rottneros. ”Strong deliveries to China, which started before and continued after the turn of the year, have altered the momentum of the global pulp market. The price falls have been transformed into an upturn.”