纸浆数据日报-20250526

Group 1: Report Industry Investment Rating - No information provided Group 2: Report's Core View - Current macro - level positive factors have not been reflected in the demand for finished paper, so it is recommended to wait and see [1] Group 3: Summary by Related Catalogs Pulp Price Data - Futures Prices: On May 23, 2025, SP2601 was 5316 with a daily increase of 0.08% and a weekly increase of 0.64%; SP2507 was 5464 with a daily increase of 0.70% and a weekly increase of 2.02%; SP2509 was 5338 with a daily increase of 0.41% and a weekly increase of 1.10% [1] - Spot Prices: Coniferous pulp Silver Star was 6250 with no daily change and a weekly decrease of 0.79%; Knitted pulp was 5450 with no daily or weekly change; Broad - leaf pulp Goldfish was 4200 with no daily change and a weekly decrease of 1.18% [1] - Foreign Quotes and Import Costs: Chilean Silver Star's foreign quote was 740 dollars/ton (down 3.90% month - on - month), and its import cost was 6046 (down 3.87% month - on - month); Chilean Star's foreign quote was 560 dollars/ton (down 11.11% month - on - month), and its import cost was 4587 (down 11.00% month - on - month); Chilean Venus's foreign quote was 620 dollars/ton (down 4.62% month - on - month), and its import cost was 5073 (down 4.57% month - on - month) [1] Pulp Fundamental Data - Import Volume: In April 2025, coniferous pulp import volume was 75.8 tons (down 5.01% month - on - month), and broad - leaf pulp import volume was 119.9 tons (down 18.44% month - on - month) [1] - Domestic Production: On May 22, 2025, broad - leaf pulp domestic production was 20 tons, and chemimechanical pulp domestic production was 20.1 tons [1] - Inventory: As of May 22, 2025, pulp port inventory was 215.7 tons (down 4.1 tons from the previous period, a 1.9% decrease), and delivery warehouse inventory was 26.10 tons [1] - Finished Paper Production: On May 22, 2025, double - offset paper production was 20.03 tons, coated paper production was 7.60 tons, tissue paper production was 27.60 tons, and white cardboard production was 28.30 tons [1] Pulp Valuation Data - Basis: On May 23, 2025, Russian needle basis was - 14 with a quantile level of 0.673, and Silver Star basis was 786 with a quantile level of 0.961 [1] - Import Profit: On May 23, 2025, coniferous pulp Silver Star's import profit was 204 with a quantile level of 0.84, and broad - leaf pulp Goldfish's import profit was - 387 with a quantile level of 0.236 [1] Summary - Supply: Chilean Arauco announced May 2025 wood pulp foreign quotes. Coniferous pulp Silver Star was 740 dollars/ton (down 30 dollars/ton), broad - leaf pulp Star had no supply in May and June and was expected to partially resume in July, and natural pulp Venus was 620 dollars/ton (down 30 dollars/ton) [1] - Demand: Cultural paper and white cardboard manufacturers issued price increase letters, and finished paper production remained stable [1] - Inventory: As of May 22, 2025, China's main pulp port sample inventory showed a de - stocking trend [1]