永安期货纸浆早报-20251015

Report Overview - The report is a pulp morning report released by the Energy and Chemicals Team of the Research Center on October 15, 2025 [2] SP Main Contract Information - The closing price of the SP main contract on October 14, 2025, was 4846.00 [3] - The closing prices from October 9 to October 14 showed fluctuations, with a 0.08261% increase on October 14 compared to the previous day [3] - The base differences in Shandong and Jiangsu-Zhejiang-Shanghai regions also fluctuated during this period [3] Import Pulp Information - Import profits for different pulp brands from various origins were calculated based on a 13% VAT rate and the exchange rate of 7.14 on the previous day [4] - Brands like Golden Lion from Canada and Silver Star from Chile had negative import profits, with -163.20 for Golden Lion and -127.74 for Silver Star [4] Pulp Price Averages - National and Shandong regional average prices for different types of pulp (coniferous, broadleaf, etc.) remained unchanged from September 30 to October 14, 2025 [4] - The price indices for cultural, packaging, and living papers also showed no change during this period [4] Pulp Price Spreads - The price spreads between coniferous and other types of pulp (broadleaf,本色, chemical mechanical, waste paper) fluctuated slightly from September 30 to October 14, 2025 [4] Paper Product Profit Margins - The profit margins for different paper products (double - offset, double - copper, etc.) changed from October 9 to October 14, 2025 [4] - For example, the double - offset profit margin decreased from 0.1462% on October 9 to -0.0430% on October 14 [4]