纸浆早报-20251229

Report Overview - The report is a pulp morning report from the Energy and Chemicals Team of the Research Center, dated December 29, 2025 [2] SP Main Contract Close Price - On December 26, 2025, the SP main contract closed at 5630.00 [3] - The daily price changes from December 22 - 26 were 2.10679%, -0.03557%, 0.00000%, -0.28470%, and 0.46395% respectively [3] - The basis for Shandong Yinxing on December 26 was -40, and for Jiangsu, Zhejiang, and Shanghai Yinxing was -70 [3] Import Pulp Prices and Profits - Based on a 13% VAT calculation, the import profit for Canadian Golden Lion was 51.39, for Canadian Lion was -287.55, and for Chilean Yinxing was -24.91 [4] Pulp and Paper Price Averages - From December 22 - 26, 2025, the national and Shandong regional average prices of coniferous pulp, broad - leaf pulp, natural pulp, and chemical mechanical pulp remained unchanged [4] - The indices of cultural paper (double - offset and double - copper), packaging paper (white card), and living paper also showed no change during this period [4] - The estimated profit margins of double - offset, double - copper, white card, and living paper remained constant from December 23 - 26 [4] Pulp Price Spreads - The price spreads between coniferous and broad - leaf, coniferous and natural, coniferous and chemical mechanical, and coniferous and waste paper pulp showed little change from December 22 - 26 [4]