永安期货纸浆早报-20251216

1. Report Industry Investment Rating - No information provided 2. Core Viewpoints - No information provided 3. Summary by Relevant Content SP Main Contract Closing Price - On December 15, 2025, the SP main contract closing price was 5,572.00, with a 0.68666% increase from the previous day. The corresponding US dollar price was 690.59 [3]. Import Prices and Profits - With a 13% VAT calculation, for Canadian pulp brands, the CFR price of Golden Lion was 780 US dollars, with a RMB price of 6,300 in Shandong and an import profit of 16.13; the CFR price of Lion was 730 US dollars, with a RMB price of 5,540 in Shandong and an import loss of 345.55. For the Chilean brand Silver Star, the CFR letter - of - credit price for 90 days was 680 US dollars, with a RMB price of 5,565 in Shandong and an import profit of 77.78. The previous day's exchange rate was 7.05 [4]. Pulp and Paper Price Averages - From December 9 to December 15, 2025, the national average prices of softwood pulp, hardwood pulp, natural pulp, and chemimechanical pulp remained unchanged at 6,073.75, 4,810.75, 5,415.00, and 3,686.25 respectively. The average prices in Shandong also remained unchanged. The indices of cultural papers (double - offset and double - copper), packaging paper (white card), and living paper also remained unchanged during this period [4]. Pulp and Paper Profit Margins - From December 10 to December 15, 2025, the estimated profit margin of double - offset paper changed by 0.0855, double - copper paper by - 0.9500, white card paper by 0.0577, and living paper by 0.3752 [4]. Pulp Price Spreads - From December 9 to December 15, 2025, the softwood - hardwood pulp price spread remained at 900.00. The softwood - natural pulp price spread and other spreads showed certain changes during this period [4].