纸浆数据日报-20260107

Report Summary 1. Report Industry Investment Rating - Not provided in the given content 2. Core View of the Report - Pulp is currently pulled by the trading logic of "strong supply" and "weak demand", lacking a clear short - term direction. The 05 contract is expected to fluctuate in the range of 5400 - 5700 yuan/ton [6] 3. Summary by Relevant Catalogs Pulp Price Data - Futures Prices: On January 6, 2026, SP2601 was 5528 yuan/ton with a daily increase of 1.02% and a weekly decrease of 0.65%; SP2609 was 5648 yuan/ton with a daily increase of 1.55% and a weekly decrease of 0.25%; SP2605 was 5612 yuan/ton with a daily increase of 1.48% and a weekly decrease of 0.32% [6] - Spot Prices: Coniferous pulp Silver Star was 5600 yuan/ton, Russian Needle was 5400 yuan/ton with no daily or weekly change; Broadleaf pulp Golden was 4720 yuan/ton with a daily increase of 0.43% and a weekly increase of 1.07% [6] - Foreign Quotes and Import Costs: For example, Chilean Silver Star's foreign quote increased by 2.94% month - on - month, and its import cost increased by 2.91% month - on - month; Brazilian Goldfish's import cost increased by 3.66% month - on - month [6] Pulp Fundamental Data - Supply - Side: In November 2025, the import volume of coniferous pulp was 72.5 tons with a month - on - month increase of 4.92%, and that of broadleaf pulp was 176.5 tons with a month - on - month increase of 33.92%. Suzano announced a full - scale price increase for global broadleaf pulp in January 2026 [6] - Demand - Side: Pulp demand has been stable recently. The price of tissue paper has risen slightly, and the prices of other paper products are stable. The production of major wood - pulp paper products is stable [6] - Inventory - Side: As of January 4, 2026, the inventory of mainstream pulp ports in China was 199.7 tons, a cumulative increase of 9.1 tons from the previous period, a month - on - month increase of 4.8%. The inventory has shifted to a cumulative trend, ending five consecutive weeks of destocking [6]