Report Information - Report Name: Pulp Daily Report [1] - Date: August 7, 2025 [2] - Research Team: Energy and Chemical Research Team [4] Industry Investment Rating - Not provided Core View - Short - term pulp is expected to maintain a weak operation, and attention should be paid to the subsequent boost to the demand side during the transition between the off - season and peak season [7] Summary by Section 1. Market Review and Operation Suggestions - Pulp futures contract 09: The previous settlement price was 5,156 yuan/ton, and the closing price was 5,170 yuan/ton, a 0.27% increase [7] - Shandong wood pulp market: The intended transaction price range of softwood pulp was 5,150 - 6,700 yuan/ton, with the low - end price remaining stable compared to the previous trading day's closing price. The price of Shandong Silver Star was quoted at 5,800 - 5,820 yuan/ton [7] - Chile Arauco's July quote: The Silver Star has been sold out with no new offers, and the net price of Uruguay hardwood pulp New Star is 500 US dollars/ton [7] - World's 20 major pulp - producing countries: In May, the softwood pulp shipment volume was 1.69 million tons, a 4.4% month - on - month increase and an 8.2% year - on - year decrease [7] - Europe's wood pulp inventory and consumption in June: Inventory increased by 2.4% month - on - month and 6.6% year - on - year; consumption decreased by 9.9% month - on - month and 10.6% year - on - year [7] - China's pulp imports in June: The total import volume was 3.03 million tons, a 0.4% month - on - month increase and a 16.1% year - on - year increase [7] - As of July 31, 2025: The weekly pulp inventory in major regions and ports decreased by 3.08% month - on - month. Only the inventory in Qingdao Port and Baoding increased compared to the previous week, and the overall shipment speed was stable [7] 2. Industry News - On August 5, the PM56 cultural paper production line of Nine Dragons Paper Co., Ltd. was successfully put into operation. The main equipment of the paper machine was provided by Taiwan Yuli, and the headbox was provided by Finland Valmet. The paper machine has a width of 7,250 mm and a designed speed of 1,000 m/min, with an annual production capacity of 250,000 tons of high - grade cultural paper [8] - Nine Dragons Paper is also building a cultural paper production line PM55, which is expected to be put into operation by the end of this year [8] - Nine Dragons Paper settled in Tieshan Port, Beihai City in December 21, 2020. The total investment of the project, including the upstream and downstream industries, is about 35 billion yuan. It is being built in two phases to achieve an annual production capacity of 7.95 million tons of forest - pulp - paper integration and intelligent packaging full - industry chain project, which started production in 2023 and is expected to be fully completed in 2025 [8] 3. Data Overview - The report presents multiple data charts, including import bleached softwood pulp spot prices in Shandong, pulp futures prices, pulp spot - futures price differences, softwood - hardwood price differences, inter - period price differences, warehouse receipt totals, domestic main port pulp inventories, European main port wood pulp inventories, prices and price differences of coated paper and offset paper, prices and price differences of white cardboard and whiteboard paper, and the US dollar - RMB exchange rate [15][17][19][28][29][32]
建信期货纸浆日报-20250807