纸浆数据日报-20260326

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Core View of the Report - The weak fundamental situation of pulp futures continues, with limited room for short - term rally due to position reduction. It is expected to fluctuate weakly in the short term [6] Group 3: Summary by Related Catalogs Pulp Price Data - Futures Prices: On March 25, 2026, SP2701 was 5550 yuan/ton, up 0.36% day - on - day and 2.93% week - on - week; SP2609 was 5318 yuan/ton, up 0.26% day - on - day and 3.02% week - on - week; SP2605 was 5224 yuan/ton, up 0.27% day - on - day and 3.65% week - on - week [5] - Spot Prices: Coniferous pulp Silver Star was 5200 yuan/ton, down 0.95% day - on - day but up 2.97% week - on - week; Coniferous pulp Russian Needle was 5050 yuan/ton, down 0.98% day - on - day and up 3.06% week - on - week; Broadleaf pulp Goldfish was 4600 yuan/ton, with no day - on - day change and up 1.10% week - on - week [5] - Foreign Quotes: Chilean Silver Star was 710 dollars/ton, Chilean Star was 600 dollars/ton, and Chilean Venus was 620 dollars/ton, all with no change compared to the previous period [5] - Import Costs: The import cost of Chilean Silver Star was 5802 yuan/ton, Chilean Star was 4911 yuan/ton, and Chilean Venus was 5073 yuan/ton, all with no change compared to the previous period [5] Pulp Fundamental Data - Import Volume: In February 2026, the import volume of coniferous pulp was 58.02 tons, down 30.86% month - on - month; the import volume of broadleaf pulp was 147.13 tons, down 2.94% month - on - month [5] - Shipment Volume to China: In January 2026, the shipment volume of pulp to China was 170 thousand tons, down 19.80% month - on - month [5] - Domestic Production: On March 19, 2026, the domestic production of broadleaf pulp was 26.3 tons, and that of chemimechanical pulp was 24.5 tons [5] - Inventory: As of March 19, 2026, the pulp port inventory was 229.7 tons, down 7.6 tons from the previous period and 3.2% month - on - month; the futures delivery warehouse inventory was 18.2 tons [5] - Finished Paper Production: On March 19, 2026, the production of offset paper was 20.60 tons, coated paper was 7.60 tons, tissue paper was 31.00 tons, and white cardboard was 37.50 tons [5] Supply - Demand Analysis - Supply - side: In March, Chilean Arauco adjusted its pulp quotes. Coniferous pulp was offered at 880 dollars/ton, broadleaf pulp Star at 620 dollars/ton (supplying 5% of the quantity), and unbleached pulp Venus at 620 dollars/ton [5] - Demand - side: The demand for pulp has been stable recently, the price of finished paper is stable, and the production has increased this week. However, the price increase notices issued by paper mills are unlikely to be implemented [5]