永安期货纸浆早报-20251027

Report Summary 1. Report Industry Investment Rating - No information provided in the content. 2. Core Viewpoints - No clear core viewpoints are presented in the given content. It mainly provides data on the pulp market. 3. Summary by Relevant Catalog SP Main Contract Information - The closing price of the SP main contract on October 24, 2025, was 5240.00. The price trends from October 20 - 24, 2025, showed fluctuations, with a -0.19048% change from the previous day on October 24 [3]. - The converted US - dollar prices from October 20 - 24, 2025, were 631.87, 634.15, 639.70, 643.64, and 643.64 respectively. The basis of Shandong Yinxing and Jiangsu - Zhejiang - Shanghai Yinxing also showed certain changes during this period [3]. Pulp Import Information - With a 13% VAT calculation, for Canadian pulp brands like Golden Lion and Lion, and Chilean brand Yinxing, the port US - dollar prices, Shandong region RMB prices, and import profits are provided. For example, the import profit of Golden Lion was -145.57 [4]. Pulp Price Averages - From October 20 - 24, 2025, the national and Shandong regional average prices of softwood pulp, hardwood pulp, natural pulp, and chemimechanical pulp remained unchanged. The prices of cultural paper, packaging paper, and tissue paper also showed no change during this period [4]. Pulp Profit Margins - The profit margins of double - offset paper, double - copper paper, white cardboard, and tissue paper were presented. The profit margin of tissue paper had a 0.0382 change from October 21 - 24, 2025, while the others remained unchanged [4]. Pulp Price Spreads - The price spreads between softwood and hardwood pulp, softwood and natural pulp, softwood and chemimechanical pulp, and softwood and waste paper pulp were provided. These spreads showed little change from October 20 - 24, 2025 [4].