Yongan Futures(SH:600927) Yong An Qi Huo·2025-12-30 01:51Group 1: SP Main Contract Information - The closing price of the SP main contract on December 29, 2025, was 5510.00 [3] - The closing prices from December 23 - 26, 2025, were 5620.00, 5620.00, 5604.00, and 5630.00 respectively [3] - The corresponding US - dollar prices were 698.78, 700.03, 698.96, 702.06, and 686.78 [3] - The daily price changes were - 0.03557%, 0.00000%, - 0.28470%, 0.46395%, and - 2.13144% [3] - The Shandong Yinxing basis on December 29, 2025, was 80, and the Yangtze River Delta Yinxing basis was 50 [3] Group 2: Pulp Import Information - With a 13% VAT calculation, the import profit for Canadian Golden Lion pulp was 51.39, for Canadian Lion pulp was - 287.55, and for Chilean Yinxing pulp was - 24.91 [4] - The port US - dollar prices were 780, 730, and 700 respectively, and the Shandong region RMB prices were 6300, 5565, and 5590 [4] Group 3: Pulp and Paper Price Averages - From December 23 - 29, 2025, the national average prices of softwood pulp, hardwood pulp, kraft pulp, and chemimechanical pulp remained unchanged at 6073.75, 4810.75, 5415.00, and 3686.25 respectively [4] - The Shandong region average prices also remained unchanged at 6245.00, 4775.00, 5400.00, and 3600.00 [4] - The cultural paper (double - offset index, double - copper index), packaging paper (white - card index), and most of the price indices remained unchanged, except for the life - paper index which increased by 2 to 857 [4] Group 4: Paper Profit Margins - The estimated profit margins of double - offset paper and double - copper paper remained unchanged from December 24 - 29, 2025, at - 4.4235% and 5.9667% respectively [4] - The estimated profit margin of white - card paper remained unchanged at - 8.9723% [4] - The estimated profit margin of life - paper increased from 3.5917% to 4.3314%, a change of 0.7397 [4] Group 5: Pulp Price Spreads - From December 23 - 29, 2025, the softwood - hardwood pulp price spread was 930.00, the softwood - kraft pulp price spread was 190, the softwood - chemimechanical pulp price spread was 1740, and the softwood - waste paper price spread was 4014 [4]