机构：造纸行业有望迎来底部向上

Core Viewpoint - Multiple paper companies have announced price increases effective from August 1, indicating a potential recovery in the industry as both paper and pulp prices are at historical lows, with limited downside risk [1] Industry Analysis - According to Xinyi Securities, the current prices of paper and pulp are at historical lows, suggesting limited room for further decline. As the industry enters the traditional peak season in the fourth quarter, both pulp and paper prices are expected to rise, leading to an improvement in the industry's fundamentals [1] - Bohai Securities notes that the recent price hikes from leading paper companies will help boost the prices of packaging paper. In the medium to long term, the expected slowdown in capacity expansion starting in 2026, combined with the government's "anti-involution" policies, is anticipated to support an overall improvement in the paper industry [1]