Report Overview - The report is a pulp morning report released by the Energy and Chemicals Team of the Research Center on June 13, 2025 [1] SP Main Contract Information - The closing price of the SP main contract on June 12, 2025, was 5268.00 [2] - The closing prices on previous days were 5346.00 on June 11, 5376.00 on June 10, 5394.00 on June 9, and 5280.00 on June 6 [2] - The corresponding US dollar - converted prices were 640.45, 649.76, 653.35, 655.85, and 641.73 respectively [2] - The daily price changes were - 1.45903% on June 12, - 0.55804% on June 11, - 0.33370% on June 10, 2.15909% on June 9, and 0.00000% on June 6 [2] - The Shandong Yinxing basis was 867 on June 12, 814 on June 11, 824 on June 10, 766 on June 9, and 880 on June 6 [2] - The Jiangsu - Zhejiang - Shanghai Yinxing basis was 882 on June 12, 854 on June 11, 839 on June 10, 806 on June 9, and 920 on June 6 [2] Import Profit Information - Calculated with a 13% VAT, for Canadian pulp brands: the CFR price of Golden Lion was 780 US dollars, with a Shandong - area RMB price of 6650 and an import profit of 201.55; the CFR price of Lion was 730 US dollars, with a Shandong - area RMB price of 5800 and an import profit of - 167.78 [3] - For the Chilean brand Yinxing with a CFR letter of credit for 90 days, the price was 740 US dollars, the Shandong - area RMB price was 6135, and the import profit was 61.08 [3] Pulp Price Averages - From June 6 to June 12, 2025, the national average prices of softwood pulp, hardwood pulp, natural pulp, and chemimechanical pulp remained unchanged at 6073.75, 4810.75, 5415.00, and 3686.25 respectively [3] - The Shandong - area average prices of these pulp types also remained unchanged at 6245.00, 4775.00, 5400.00, and 3600.00 respectively [3] Paper Product Indexes - From June 9 to June 12, 2025, the cultural paper indexes (double - offset index and double - copper index), packaging paper index (white - card index), and living paper index remained unchanged at 5725, 5670, 4350, and 843 respectively [3] Paper Product Profit Margins - From June 9 to June 12, 2025, the estimated profit margins of double - offset paper changed from 8.4932% to 8.1437% (a change of 0.1068), double - copper paper from 23.2196% to 23.0093% (a change of 0.1051), white - card paper from - 10.3810% to - 9.7262% (a change of 0.2976), and living paper from 10.2775% to 9.9056% (a change of 0.4091) [3] Pulp Price Spreads - From June 6 to June 12, 2025, the softwood - hardwood price spread changed from 2050 to 1995, the softwood - natural price spread from 760 to 735, the softwood - chemimechanical price spread from 2310 to 2385, and the softwood - waste paper price spread from 4584 to 4559 [3]
纸浆早报-20250613
Yong An Qi Huo·2025-06-13 03:27