纸浆早报-20250804

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints No information provided. 3. Summaries Based on Related Catalogs 3.1 SP Main Contract Closing Price - On August 1, 2025, the SP main contract closing price was 5186.00, with a -0.87920% change from the previous day [3]. - The closing prices from July 28 to July 31, 2025, were 5360.00, 5374.00, 5326.00, and 5232.00 respectively, with corresponding changes of -2.89855%, 0.26119%, -0.89319%, and -1.76493% [3]. - The converted US dollar prices on August 1, 2025, and from July 28 to July 31, 2025, were 627.89, 652.65, 654.05, 647.61, and 635.08 respectively [3]. - The Shandong Yinxing basis on August 1, 2025, was 704, and the Jiangsu - Zhejiang - Shanghai Yinxing basis was 739 [3]. 3.2 Pulp Import Information - With a 13% VAT calculation, the import profit for Canadian Golden Lion pulp was 25.11, for Canadian Lion pulp was -327.53, and for Chilean Yinxing pulp was -46.06 [4]. - The port US dollar prices for Canadian Golden Lion, Canadian Lion, and Chilean Yinxing were 780, 730, and 720 respectively, and the Shandong region RMB prices were 6450, 5650, and 5890 respectively [4]. 3.3 Pulp Price Averages - From July 28 to August 1, 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 [4]. - The Shandong region average prices of softwood pulp, hardwood pulp, natural pulp, and chemimechanical pulp also remained unchanged at 6245.00, 4775.00, 5400.00, and 3600.00 respectively during the same period [4]. 3.4 Paper Indexes and Margins - From July 29 to August 1, 2025, the cultural paper double - glue index, double - copper index, packaging paper white - card index, and living paper living index remained unchanged at 5725, 5670, 4350, and 828 respectively [4]. - The estimated profit margins of double - glue paper, double - copper paper, white - card paper, and living paper on August 1, 2025, were 6.1407%, 23.9836%, -12.1951%, and 7.6234% respectively, with the living paper profit margin having a change of 0.1719 [4]. 3.5 Pulp Price Spreads - On August 1, 2025, the softwood - hardwood price spread was 1740.00, the softwood - natural price spread was 490, the softwood - chemimechanical price spread was 2065, and the softwood - waste paper price spread was 4314 [4].