纸浆早报-20251222

Group 1: Report Information - The report is the Pulp Morning Report by the Energy and Chemicals Team of the Research Center on December 22, 2025 [2] Group 2: SP Main Contract Information - The closing price of the SP main contract on December 19, 2025, was 5506.00 [3] - The closing prices on December 15 - 18, 2025, were 5572.00, 5468.00, 5506.00, and 5500.00 respectively [3] - The exchange - rate - converted US dollar prices on December 15 - 19, 2025, were 690.59, 678.31, 682.74, 682.39, and 683.23 respectively [3] - The daily price changes from December 15 - 19, 2025, were 0.68666%, - 1.86648%, 0.69495%, - 0.10897%, and 0.10909% respectively [3] - The Shandong Yinxing basis on December 15 - 19, 2025, was - 7, 72, 34, 40, and 19 respectively [3] - The Jiangsu, Zhejiang, and Shanghai Yinxing basis on December 15 - 19, 2025, was - 22, 82, 34, 40, and 29 respectively [3] Group 3: Import Profit Information - With a 13% VAT calculation, for Canadian Golden Lion (CFR), the port US dollar price is 780, the Shandong region RMB price is 6300, and the import profit is 24.94 [4] - For Canadian Lion (CFR), the port US dollar price is 730, the Shandong region RMB price is 5525, and the import profit is - 352.30 [4] - For Chilean Yinxing (CFR letter of credit 90 days), the port US dollar price is 700, the Shandong region RMB price is 5525, and the import profit is - 113.64 [4] Group 4: Pulp and Paper Price and Margin Information - From December 15 - 19, 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 softwood pulp, hardwood pulp, natural pulp, and chemimechanical pulp also remained unchanged at 6245.00, 4775.00, 5400.00, and 3600.00 respectively [4] - From December 16 - 19, 2025, the cultural paper (double - offset index, double - copper index), packaging paper (white - card index), and living paper (living index) prices remained unchanged at 5725, 5670, 4350, and 850 respectively [4] - From December 16 - 19, 2025, the double - offset profit margin remained at - 4.2524%, the double - copper profit margin remained at 6.1333%, and the white - card profit margin remained at - 8.8568% [4] - The living paper profit margin changed from 2.9505% on December 16 to 3.2295% on December 19, with a change of 0.1302 [4] - From December 15 - 19, 2025, the softwood - hardwood price difference was 900, 875, 875, 890, and 875 respectively [4] - The softwood - natural price difference was 165, 140, 140, 140, and 125 respectively [4] - The softwood - chemimechanical price difference was 1715, 1690, 1690, 1690, and 1675 respectively [4] - The softwood - waste paper price difference was 3989, 3964, 3964, 3964, and 3949 respectively [4]