造纸轻工行业造纸产业链数据每周速递：本周文化纸价格上涨，包装纸价格下跌

Investment Rating - The report maintains a "Positive" investment rating for the paper and light industry sector [7] Core Views - The light manufacturing industry index increased by 1.34%, underperforming the market by 0.05 percentage points; the paper sub-sector rose by 0.95%, lagging behind the market by 0.44 percentage points [3][14] - The four major sub-sectors of light manufacturing ranked by growth are entertainment products, furniture, packaging printing, and paper, with respective increases of 3.02%, 1.24%, 0.99%, and 0.95% [3][14] Summary by Sections Market Review - The light manufacturing industry index rose by 1.34%, while the paper sub-sector increased by 0.95%, both underperforming the Shanghai and Shenzhen 300 index, which rose by 1.39% [3][14] Industry Chain Data Tracking - Raw Materials: The domestic waste paper price increased by 20 CNY/ton, while foreign waste prices remained stable. The price of bleached hardwood pulp decreased by 80 CNY/ton, and softwood pulp decreased by 30 CNY/ton [25][26] - Finished Paper: The average market price for double glue paper increased by 20 CNY/ton to 5445 CNY/ton, copper plate paper rose by 22 CNY/ton to 5820 CNY/ton, while white cardboard fell by 2 CNY/ton to 4318 CNY/ton [36][38][40] - Profit Levels: Profitability for double glue paper increased by 16-50 CNY/ton, and for copper plate paper by 18-53 CNY/ton. White cardboard profitability varied, with large enterprises seeing a decrease of 3 CNY/ton and small enterprises an increase of 2 CNY/ton [45][49] Inventory and Production Data - In December 2024, the production of mechanical paper and paperboard was 14.41 million tons, a year-on-year increase of 6.0%. The total production for the year was 15.847 million tons, up 10.0% year-on-year [23] - The inventory of finished products in the paper and paper products industry decreased by 6.4% month-on-month in December 2024 [23]