永安期货纸浆早报-20260304

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - Not provided in the given content 3. Summary According to the Directory SP Main Contract Information - On March 3, 2026, the closing price of the SP main contract was 5220.00, with a decrease of 0.60929% from the previous day. The corresponding dollar price was 660.54. The Shandong Yinxing basis was 70, and the Jiangsu-Zhejiang-Shanghai Yinxing basis was also 70 [3]. Import Profit Information - With a 13% VAT calculation, the import profit of Canadian Golden Lion pulp was 148.34 yuan, while the import profit of Canadian Lion pulp was -501.81 yuan, and the import profit of Chilean Yinxing pulp was -237.90 yuan [4]. Price and Profit Margin Information - From February 25 to March 3, 2026, the national average prices of softwood pulp, hardwood pulp, natural pulp, and chemimechanical pulp remained unchanged, as did the average prices in Shandong. The prices of cultural paper, packaging paper, and tissue paper also remained stable, and the profit margins of double - offset paper, double - copper paper, white cardboard, and tissue paper did not change either [5]. Price Spread Information - On March 3, 2026, the spread between softwood and hardwood pulp was 700.00, the spread between softwood and natural pulp was -110, the spread between softwood and chemimechanical pulp was 1415, and the spread between softwood and waste paper was 3714 [5][6].