纸浆早报-20260226

Group 1: SP Main Contract Closing Price - The closing price of the SP main contract on February 25, 2026, was 5348.00 [3] - The closing prices on February 24, 13, 12, and 11, 2026, were 5340.00, 5260.00, 5238.00, and 5236.00 respectively [3] - The corresponding dollar - converted prices were 680.16, 677.38, 664.54, 662.67, and 661.46 respectively [3] - The daily percentage changes were 0.14981%, 1.52091%, 0.42001%, 0.03820%, and 0.65359% respectively [3] - The Shandong Yinxing basis on February 25, 2026, was 27, and the Jiangsu - Zhejiang - Shanghai Yinxing basis was 17 [3] Group 2: Import Profit and Price Data - With a 13% VAT calculation, for Canadian brands, the CFR price of Golden Lion was 780 dollars, the Shandong RMB price was 6300, and the import profit was 174.78; for Lion, the CFR price was 730 dollars, the Shandong RMB price was 5370, and the import profit was - 402.06 [4] - For the Chilean brand Yinxing with a 90 - day CFR letter of credit, the port dollar price was 700, the Shandong RMB price was 5375, and the import profit was - 129.17 [4] Group 3: Pulp and Paper Price Averages - From February 11 to 25, 2026, 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 regional average prices of these pulps also remained unchanged at 6245.00, 4775.00, 5400.00, and 3600.00 respectively [4] - The cultural paper (double - offset index, double - copper index), packaging paper (white card index), and living paper (living index) prices remained unchanged from February 12 to 25, 2026 [4] Group 4: Pulp Profit Margin Estimates - The double - offset profit margin estimates on February 12, 13, 24, and 25, 2026, were - 2.1797%, - 2.1797%, - 2.9070%, and - 2.9412% respectively, with a change of - 0.0342 [4] - The double - copper profit margin estimates were 7.9583%, 7.9583%, 7.3250%, and 7.2917% respectively, with a change of - 0.0333 [4] - The white card profit margin estimates were - 7.7945%, - 7.7945%, - 8.2333%, and - 8.2564% respectively, with a change of - 0.0231 [4] - The living paper profit margin estimates were 8.5041%, 8.5041%, 6.7434%, and 6.6356% respectively, with a change of - 0.1078 [4] Group 5: Pulp Price Spreads - The softwood - hardwood price spreads on February 25, 24, 13, 12, and 11, 2026, were 710.00, 700, 755, 755, and 755 respectively [4] - The softwood - natural price spreads were - 25, - 35, - 90, - 90, and - 90 respectively [4] - The softwood - chemimechanical price spreads were 1500, 1490, 1435, 1435, and 1435 respectively [5] - The softwood - waste paper price spreads were 3799, 3789, 3734, 3734, and 3734 respectively [5]