永安期货纸浆早报-20250911

Report Overview - The report is a pulp morning report released by the Energy and Chemicals Team of the Research Center on September 11, 2025 [2] SP Main Contract Information - On September 10, 2025, the closing price of the SP main contract was 4996.00, with a 0.52314% increase from the previous day. The converted US dollar price was 612.08. The basis of Shandong Yinxing was 694, and that of Jiangsu, Zhejiang, and Shanghai Yinxing was 704 [3] Import Pulp Price and Profit - Calculated with a 13% VAT, for Canadian pulp, the CFR price of Golden Lion was 780 US dollars, and the RMB price in Shandong was 6300, with an import profit of -45.57; the CFR price of Lion was 730 US dollars, and the RMB price in Shandong was 5410, with an import profit of -533.29. For Chilean pulp, the CFR L/C 90 - day price of Yinxing was 720 US dollars, and the RMB price in Shandong was 5690, with an import profit of -172.83 [4] Pulp Price Averages - From September 4 to September 10, 2025, the national average prices of softwood pulp, hardwood pulp, natural color pulp, and chemimechanical pulp remained unchanged at 6073.75, 4810.75, 5415.00, and 3686.25 respectively. The average prices in Shandong area also remained unchanged [4] Paper Product Index and Profit Margin - From September 5 to September 10, 2025, the indices of cultural paper (double - offset and double - copper), packaging paper (white card), and tissue paper remained unchanged. The profit margins of double - offset paper, double - copper paper, and tissue paper remained stable, while the profit margin of white card paper increased by 0.6954 from September 5 to September 10 [4] Pulp Price Spreads - From September 4 to September 10, 2025, the spreads between softwood and hardwood pulp, softwood and natural color pulp, softwood and chemimechanical pulp, and softwood and waste paper pulp changed slightly [4]