纸浆早报-20260210

1. Report Industry Investment Rating - No information provided 2. Core Viewpoints of the Report - No information provided 3. Summary by Relevant Catalog 3.1 SP Main Contract Closing Price - The closing price of the SP main contract on February 9, 2026, was 5200.00. The closing prices on February 6, 5, 4, and 3 were 5234.00, 5254.00, 5324.00, and 5276.00 respectively. The daily price changes were -0.64960%, -0.38066%, -1.31480%, 0.90978%, and 0.18990% [3]. - The corresponding US - dollar prices were 655.25, 658.48, 660.96, 670.20, and 664.21 respectively [3]. - The basis of Shandong Yinxing was 110, 76, 81, 51, and 99 respectively, and that of Jiangsu - Zhejiang - Shanghai Yinxing was 140, 106, 136, 66, and 114 respectively [3]. 3.2 Import Profitability - Calculated with 13% VAT, for Canadian Golden Lion (CFR), the port US - dollar price was 780, the RMB price in Shandong was 6300, and the import profit was 121.90. For Canadian Lion (CFR), the port US - dollar price was 730, the RMB price in Shandong was 5270, and the import loss was 516.56. For Chilean Yinxing (CFR, 90 - day letter of credit), the port US - dollar price was 700, the RMB price in Shandong was 5310, and the import loss was 241.63 [4]. 3.3 Pulp and Paper Price Averages and Margins - From February 3 to 9, 2026, the national average prices of softwood pulp, hardwood pulp, natural color pulp, and chemimechanical pulp remained unchanged at 6073.75, 4810.75, 5415.00, and 3686.25 respectively. The average prices in Shandong also remained unchanged [5]. - The indices of cultural paper (double - offset and double - coated), packaging paper (white card), and tissue paper remained unchanged from February 4 to 9, 2026. The double - offset index was 5725, the double - coated index was 5670, the white - card index was 4350, and the tissue index was 867 [5]. - The estimated margins of double - offset paper, double - coated paper, white - card paper, and tissue paper on February 9, 2026, were - 2.1797%, 7.9583%, - 7.7945%, and 8.5041% respectively, remaining unchanged from the previous data [5]. 3.4 Pulp Price Spreads - From February 3 to 9, 2026, the softwood - hardwood price spread was 755.00, 755, 780, 800, and 800 respectively; the softwood - natural color price spread was - 90, - 90, - 65, - 25, and - 25 respectively [5]. - The softwood - chemimechanical price spread was 1435, 1435, 1460, 1500, and 1500 respectively; the softwood - waste paper price spread was 3734, 3734, 3759, 3799, and 3799 respectively [6].