Group 1: Report Industry Investment Rating - No information provided Group 2: Core View of the Report - Pulp futures are oscillating after a significant decline due to macro - commodity factors. The supply side has companies like Brazil's Suzano raising prices and Chile's Arauco adjusting prices and supply. The demand for paper products is basically stable, with some paper mills issuing price - increase letters. The inventory is showing a de - stocking trend [1] Group 3: Summary According to Relevant Catalogs 1. Price Data - Futures Price: On August 29, 2025, SP2601 was 5344, up 0.68% daily and down 0.37% weekly; SP2511 was 5018, up 0.32% daily and down 1.76% weekly; SP2509 was 4966, up 0.40% daily and down 1.82% weekly [1] - Spot Price: On August 29, 2025, the price of coniferous pulp Silver Star was 5700, unchanged daily and down 1.72% weekly; Russian Needle was 5100, unchanged daily and down 0.97% weekly; broadleaf pulp Goldfish was 4180, unchanged daily and up 0.72% weekly [1] - Outer - disk Quotation: In August 2025, the outer - disk quotation of Chilean Silver Star was 720 dollars, down 2.70% month - on - month; Brazilian Goldfish was 510 dollars, up 4.08% month - on - month; Chilean Venus was 620 dollars, unchanged month - on - month [1] - Import Cost: In August 2025, the import cost of Chilean Silver Star was 5884, down 2.68% month - on - month; Brazilian Goldfish was 4182, up 4.03% month - on - month; Chilean Venus was 5073, unchanged month - on - month [1] 2. Fundamental Data - Supply - Import Volume: In July 2025, the import volume of coniferous pulp was 64.6 tons, down 4.72% month - on - month; broadleaf pulp was 135.1 tons, down 5.85% month - on - month [1] - Domestic Output: From July 17 to August 28, 2025, the domestic output of broadleaf pulp ranged from 20.5 to 21.3 tons; chemical mechanical pulp ranged from 20.7 to 21.5 tons [1] - Shipping Volume: In July 2025, the shipping volume of pulp to China was 140 tons, up 3.30% month - on - month [1] - Inventory - Pulp Port Inventory: From July 17 to August 28, 2025, the pulp port inventory ranged from 204.8 to 218.1 tons [1] - Futures Delivery Warehouse Inventory: From July 17 to August 28, 2025, the futures delivery warehouse inventory ranged from 25.2 to 25.6 tons [1] - Demand: From July 17 to August 28, 2025, the output of finished paper such as offset paper, coated paper, tissue paper, and white cardboard fluctuated within a certain range [1] 3. Valuation Data - Basis: On August 29, 2025, the Russian Needle basis was 82 with a quantile level of 0.832; the Silver Star basis was 682 with a quantile level of 0.902 [1] - Import Profit: On August 29, 2025, the import profit of coniferous pulp Silver Star was - 184 with a quantile level of 0.338; broadleaf pulp Goldfish was - 2 with a quantile level of 0.629 [1]
纸浆数据日报-20250901
Guo Mao Qi Huo·2025-09-01 07:42