下游观望心态浓郁 纸浆期货近期呈宽幅震荡走势

Group 1 - The main contract for pulp futures closed at 5242 CNY/ton, with a weekly decline of 0.79% and a reduction in open interest by 7980 contracts [1] - The pulp futures market experienced fluctuations, with a weekly opening price of 5282 CNY/ton, a high of 5424 CNY/ton, and a low of 5230 CNY/ton [1] Group 2 - Chile's Arauco announced June pricing for silver star at 740 USD/ton and gold star at 620 USD/ton, remaining unchanged from the previous period [2] - MetsaFibre's Kemi plant is preparing for a five-week maintenance shutdown starting May 28, 2025, to replace damaged evaporation equipment, with an annual capacity of 1.02 million tons for softwood pulp, 300,000 tons for hardwood pulp, and 180,000 tons for unbleached pulp [2] - As of June 12, 2025, China's mainstream port inventory of pulp was 2.185 million tons, an increase of 28,000 tons or 1.3% from the previous period [2] Group 3 - Overall market sentiment for pulp trading has slightly improved, with some traders reporting a faster pace of sales, although supply pressure from Brazil and weak downstream demand remain concerns [3] - In May 2025, China imported 3.016 million tons of pulp, with a year-on-year increase of 2% for the first five months [3] - Domestic pulp market activity is slow, with a cautious purchasing attitude from paper mills, leading to a recommendation for a wait-and-see approach [3]