智通财经网·2025-08-14 08:40Group 1: Core Insights - The report from Guotai Junan indicates a slowdown in the decline of pulp and paper prices in July, with expectations for a rebound in pulp prices and stabilization in white paper prices, while black paper continues to rise [1] - The cultural paper segment faces ongoing supply-demand imbalances, with rising waste paper prices providing some support for corrugated paper prices [1] Group 2: Cultural Paper - As of July 29, the average market price for 70g wood pulp high white double glue paper was 5,094 RMB/ton, a decrease of 57 RMB/ton (1.11%) month-on-month and a drop of 525 RMB/ton (9.34%) year-on-year [2] - Factors affecting the market include limited adjustments in paper factory pricing, moderate inventory pressure due to concentrated orders, and weak downstream demand leading to cautious purchasing by distributors [2] Group 3: White Cardboard - As of July 29, the average market price for 250-400g flat white cardboard was 4,036 RMB/ton, down 1.25% from June and 9.02% year-on-year [3] - The market is characterized by oversupply, weak terminal demand, and cautious purchasing behavior from customers, with small paper mills offering limited-time promotions [3] Group 4: Corrugated Paper - As of July 29, the average market price for corrugated paper was 3,449 RMB/ton, a decrease of 52 RMB/ton (1.49%) from June and a year-on-year decline of 5.03% [4] - The market saw mixed price movements in early July, but a price increase from large paper mills in the latter half of the month led to a slight uptick in market prices [4] Group 5: Pulp Market - The main prices for imported broadleaf pulp are around 490 USD/ton, with some sources maintaining prices at 500 USD/ton, while imported softwood pulp prices remain stable [5] - The pulp market is characterized by weak demand from the paper industry, leading to a decline in pulp prices, despite some upward pressure from market sentiment and policy expectations [5]