永安期货纸浆早报-20251016

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints No information provided. 3. Summary by Relevant Catalog SP Main Contract Closing Price - On October 15, 2025, the SP main contract closing price was 4856.00, with a 0.20636% increase from the previous day [3]. - The closing prices from October 9 - 15, 2025, along with corresponding fold - dollar prices, daily changes, and basis in Shandong and Jiangsu - Zhejiang - Shanghai regions are presented in a table [3]. Pulp Price and Profitability - With a 13% VAT calculation, for imported pulp, the Canadian Golden Lion has a CFR port price of 780 dollars, a Shandong region RMB price of 6200, and an import profit of - 145.57; the Canadian Lion has a CFR price of 730 dollars, a Shandong price of 5360, and an import profit of - 583.29; the Chilean Silver Star has a CFR letter - of - credit 90 - day price of 700 dollars, a Shandong price of 5590, and an import profit of - 111.92 [4]. - From October 9 - 15, 2025, the national and Shandong regional average prices of different types of pulp (coniferous, broad - leaf, natural, and chemimechanical) remained unchanged [4]. - The indices of cultural paper (double - offset and double - copper), packaging paper (white card), and living paper remained unchanged from October 10 - 15, 2025 [4]. - The profit margins of different types of paper showed some changes. For example, the double - offset profit margin decreased from 0.1462% on October 10, 2025, to - 0.0430% on October 15, 2025; the living paper profit margin decreased from 7.2414% on October 10, 2025, to 6.8977% on October 15, 2025 [4]. - The price differences between coniferous pulp and other types of pulp (broad - leaf, natural, chemimechanical, and waste paper) are presented in a table from October 9 - 15, 2025 [4].