Group 1: SP Main Contract Information - The closing price of the SP main contract on November 18, 2025, was 5408.00 [3] - The closing prices on November 17, 14, 13, and 12, 2025, were 5474.00, 5480.00, 5534.00, and 5482.00 respectively [3] - The dollar - converted prices on these dates were 673.11, 674.24, 681.44, and 672.93 respectively [3] - The daily price changes were - 1.20570%, - 0.10949%, - 0.97579%, 0.94856%, and - 0.03647% respectively [3] - The Shandong Yinxing basis on these dates was 142, 76, 70, 31, and 58 respectively [3] - The Jiangsu, Zhejiang, and Shanghai Yinxing basis on these dates was 132, 76, 70, 66, and 83 respectively [3] Group 2: Pulp Import Information - With a 13% VAT calculation, for Canadian Golden Lion (CFR), the port dollar price was 780, the Shandong region RMB price was 6200, and the import profit was - 127.94 [4] - For Canadian Lion (CFR), the port dollar price was 730, the Shandong region RMB price was 5510, and the import profit was - 376.79 [4] - For Chilean Yinxing (CFR with 90 - day letter of credit), the port dollar price was 680, the Shandong region RMB price was 5550, and the import profit was 24.36 [4] Group 3: Pulp and Paper Price Averages - From November 12 to 18, 2025, the national average prices of softwood pulp, hardwood pulp, natural pulp, and chemimechanical pulp remained unchanged at 6073.75, 4810.75, 5415.00, and 3686.25 respectively [4] - The Shandong region average prices of these pulps also remained unchanged at 6245.00, 4775.00, 5400.00, and 3600.00 respectively [4] - The cultural paper (double - offset index, double - copper index), packaging paper (white - card index), and living paper (living index) prices remained unchanged from November 13 to 18, 2025 [4] Group 4: Pulp and Paper Profit Margins - From November 13 to 18, 2025, the double - offset profit margin estimates were - 1.5226%, - 1.5914%, - 1.8925%, - 1.8925% respectively [4] - The double - copper profit margin estimates were 11.8226%, 11.7742%, 11.5323%, 11.5323% respectively [4] - The white - card profit margin estimates were - 7.7921%, - 7.8271%, - 8.0023%, - 8.0023% respectively [4] - The living paper profit margin estimates were 4.3384%, 3.5744%, 3.5744%, 3.5744% respectively [4] Group 5: Pulp Price Spreads - From November 12 to 18, 2025, the softwood - hardwood price spreads were 1165, 1175, 1110, 1110, 1110 respectively [4] - The softwood - natural price spreads were 140, 165, 150, 150, 150 respectively [4] - The softwood - chemimechanical price spreads were 1740, 1765, 1750, 1750, 1750 respectively [4] - The softwood - waste paper price spreads were 3964, 3989, 3974, 3974, 3974 respectively [4]
永安期货纸浆早报-20251119
Yong An Qi Huo·2025-11-19 02:42