Group 1: Report Industry Investment Rating - No information provided Group 2: Core View of the Report - The main production of finished paper decreased this week, and the price of finished paper remained low, providing weak support for pulp [1] - As of June 26, 2025, the inventory of mainstream pulp ports in China was 216300 tons, a decrease of 45000 tons from the previous period, a month - on - month decrease of 2.0%, showing a de - stocking trend [1] - After the suspension of the entry of needles into the warehouse, it is recommended to conduct a 11 - 1 reverse spread [1] Group 3: Summary by Related Catalogs Pulp Price Data - Futures prices: On June 26, 2025, SP2601 was 5264, a daily decrease of 0.68% and a weekly decrease of 0.04%; SP2507 was 5060, unchanged daily and a weekly decrease of 3.62%; SP2509 was 5066, a daily decrease of 0.08% and a weekly decrease of 3.58% [1] - Spot prices: On June 26, 2025, the price of coniferous pulp Silver Star was 5950, unchanged daily and a weekly decrease of 1.65%; the price of coniferous pulp Russian Needle was 5120, unchanged daily and a weekly decrease of 2.48%; the price of broad - leaf pulp Golden was 4050, unchanged daily and a weekly decrease of 1.22% [1] - Outer - disk quotes and import costs: The outer - disk quotes of Chilean Silver Star, Chilean Star, and Chilean Venus in June 2025 were 740, 560, and 620 US dollars/ton respectively, unchanged month - on - month; the corresponding import costs were also unchanged month - on - month [1] Pulp Fundamental Data Supply - In April 2025, the import volume of coniferous pulp was 758000 tons, a month - on - month decrease of 5.01%; the import volume of broad - leaf pulp was 1199000 tons, a month - on - month decrease of 18.44% [1] - The pulp shipment volume to China in April 2025 was 13.53 million tons, a month - on - month decrease of 30.80% [1] - The domestic production of broad - leaf pulp and chemimechanical pulp in late June 2025 showed certain fluctuations [1] Inventory - As of June 26, 2025, the pulp port inventory was 216300 tons, and the delivery warehouse inventory was 24600 tons [1] Demand - The production of major finished papers such as offset paper, coated paper, tissue paper, and white cardboard decreased in the week of June 2025 [1] Pulp Valuation Data - On June 26, 2025, the basis of Russian Needle was 54, with a quantile level of 0.809; the basis of Silver Star was 884, with a quantile level of 0.975 [1] - On June 26, 2025, the import profit of coniferous pulp Silver Star was - 96, with a quantile level of 0.46; the import profit of broad - leaf pulp Goldfish was - 537, with a quantile level of 0.189 [1]
纸浆数据日报-20250627
Guo Mao Qi Huo·2025-06-27 07:54