（文章来源：每日经济新闻） 每经AI快讯，上海航运交易所数据显示，截至12月26日，上海出口集装箱运价指数（综合指数）报 1656.32点，与上期相比上涨103.40点；中国出口集装箱运价综合指数报1146.67点，与上期相比涨 2.0%。 ...

Core Insights - The Shanghai Export Container Freight Index (composite index) reported at 1397.63 points as of December 5, reflecting a decrease of 5.50 points compared to the previous period [1] - The China Export Container Freight Index reported at 1114.89 points, showing a decline of 0.6% from the last period [1] Group 1 - The Shanghai Export Container Freight Index has experienced a decline, indicating potential challenges in the shipping industry [1] - The decrease in the China Export Container Freight Index suggests a broader trend affecting export shipping rates [1]

Report Industry Investment Rating - Not provided in the content Core Viewpoints - The market for logs is currently in a state of weak supply and demand. The prices of mainstream log varieties have remained stable, and the inventory in major ports has generally increased. Shipping schedules indicate a certain volume of log arrivals in the near future, and factors such as freight rates and exchange rates are also showing corresponding changes [4][6][20] Summary by Section Overview - For the mainstream deliverable 3.9 - meter 30 + radiata pine, the quotes in Shandong and Jiangsu markets remained unchanged from last week at 755 yuan/cubic meter, with a regional price difference of 0. The prices of other specifications of radiata pine in Shandong also remained stable. European spruce and fir in the Jiangsu market are still in short supply [4] Supply - As of November 23, there were 29 ships departing from New Zealand in November, with 23 bound for the Chinese mainland and 6 for Taiwan, China, and South Korea (with reduced loads). Among them, about 12 ships are expected to arrive in November, and 17 in December. The expected arrival volume in November is 1.41 million cubic meters [5][8] Demand and Inventory - As of the week of November 21, the daily average shipment volume of Lanshan Port was 23,200 cubic meters (a week - on - week increase of 2,400 cubic meters), and that of Taicang Port was 13,000 cubic meters (a week - on - week increase of 2,300 cubic meters). In terms of port inventory, Lanshan Port had about 1.3628 million cubic meters (a week - on - week increase of 70,000 cubic meters), Taicang Port had about 401,600 cubic meters (a week - on - week increase of 30,400 cubic meters), Xinminzhou had about 238,700 cubic meters (a week - on - week decrease of 25,800 cubic meters), and Jiangdu Port had about 173,800 cubic meters (a week - on - week decrease of 7,700 cubic meters). The total inventory of the four major ports was 2.1769 million cubic meters, an increase of 66,900 cubic meters from the previous week [6][13] Market Trends - As of November 27, the closing price of the main contract LG2601 was 765 yuan/cubic meter, a decrease of 1.7% from last week. The market continued to fluctuate weakly this week, and the fundamentals maintained a pattern of weak supply and demand. The monthly spread changes this week were relatively small, with the 01 - 03 monthly spread at - 11.5 yuan/cubic meter, the 01 - 05 monthly spread at - 25 yuan/cubic meter, and the 03 - 05 monthly spread at - 13.5 yuan/cubic meter [20] Price and Spread - **Spot Price**: The prices of various specifications of radiata pine and spruce in Shandong and Jiangsu markets remained unchanged from last week, but there were different degrees of decline compared to four weeks ago [24] - **Regional Spread**: The report presents the price differences of different tree species and specifications between Shandong and Jiangsu regions, including 3.9 - meter 30 + radiata pine, 3.9 - meter 40 + radiata pine, etc. [24][27] - **Species and Specification Spread**: It shows the price differences between different tree species and specifications, such as the price difference between 3.9 - meter 30 + radiata pine and 3.9 - meter 40 + radiata pine [38][39] Other - As of the week of November 30, the Baltic Dry Index (BDI) was 2480.00 points, an increase of 205 points (+9.0%) from last week. Its related sub - index, the Handysize Shipping Index (BHSI), was 825 points, an increase of 0.6% from last week. The Shanghai Containerized Freight Index (SCFI) was 1403.13 points, an increase of 0.7% from last week. In terms of exchange rates, the US dollar index weakened, the US dollar to RMB exchange rate was 7.079, a week - on - week decrease of 0.44%, and the US dollar to New Zealand dollar exchange rate decreased by 2.4% to 1.748 [6][53]

Core Insights - The Shanghai Export Container Freight Index (composite index) reported at 1393.56 points as of November 21, showing a decrease of 57.82 points compared to the previous period [1] - The China Export Container Freight Composite Index stood at 1122.79 points, reflecting an increase of 2.6% from the last period [1] Group 1 - The Shanghai Export Container Freight Index has experienced a decline, indicating potential challenges in the shipping industry [1] - The increase in the China Export Container Freight Composite Index suggests a contrasting trend, possibly indicating stronger demand for exports [1]

Group 1 - The Shanghai Export Container Freight Index (composite index) reached 1550.70 points as of October 31, reflecting an increase of 147.24 points compared to the previous period [1] - The China Export Container Freight Composite Index stood at 1021.39 points, showing a rise of 2.9% from the last period [1]

Report Summary 1. Report Industry Investment Rating No information provided in the report. 2. Core Viewpoint As of August 1, the main contract LG2509 closed at 821.5 yuan per cubic meter, down 1.4% from the previous week. The market showed a weak and volatile trend this week, with the fundamentals maintaining a pattern of weak supply and demand. The monthly spreads showed differentiation this week, with the 09 - 11 spread at -5 yuan per cubic meter, the 09 - 01 spread at -8.5 yuan per cubic meter, and the 11 - 01 spread at -3.5 yuan per cubic meter [17]. 3. Summary by Directory Overview - For the mainstream deliverable 3.9 - meter 30+ radiata pine, the Shandong market quoted 745 yuan per cubic meter, unchanged from last week, while the Jiangsu market quoted 765 yuan per cubic meter, an increase of 10 yuan per cubic meter from last week, with a regional price difference of -20 yuan. The 3.9 - meter 40+ radiata pine in Shandong was quoted at 850 yuan per cubic meter, unchanged from last week; the 5.9 - meter 30+ radiata pine in Shandong was quoted at 765 yuan per cubic meter, also unchanged from last week. European spruce and fir in the Jiangsu market had low trading volumes and were still in short supply [4]. Supply - As of July 27, there were a total of 40 ships departing from New Zealand in July, with 35 bound for mainland China and 5 for Taiwan, China and South Korea with reduced loads. Among the ships departing in July, about 16 were expected to arrive in July and 24 in August. The expected arrival volume in July was 1.63 million cubic meters [5][8]. Demand and Inventory - As of the week ending July 25, the daily average shipment volume at Lanshan Port was 1.78 million cubic meters (a week - on - week decrease of 0.08 million cubic meters), and at Taicang Port it was 1.18 million cubic meters (a week - on - week increase of 0.13 million cubic meters). In terms of port inventory, Lanshan Port had about 1.2558 million cubic meters (a week - on - week increase of 0.024 million cubic meters), Taicang Port had about 0.4363 million cubic meters (a week - on - week decrease of 0.0785 million cubic meters), Xinminzhou had about 0.4211 million cubic meters (a week - on - week decrease of 0.0257 million cubic meters), and Jiangdu Port had about 0.2068 million cubic meters (a week - on - week decrease of 0.016 million cubic meters). The total inventory of the four major ports was 2.32 million cubic meters, a decrease of 0.0962 million cubic meters from the previous week [6][13]. Market Trend - As of August 1, the main contract LG2509 closed at 821.5 yuan per cubic meter, down 1.4% from the previous week. The market showed a weak and volatile trend this week, with the fundamentals maintaining a pattern of weak supply and demand. The monthly spreads showed differentiation this week, with the 09 - 11 spread at -5 yuan per cubic meter, the 09 - 01 spread at -8.5 yuan per cubic meter, and the 11 - 01 spread at -3.5 yuan per cubic meter [17]. Other - As of the week ending August 1, the Baltic Dry Index (BDI) was 2018 points, down 239 points (-10.6%) from the previous week. Its related sub - index, the Handysize Shipping Index (BHSI), was 678 points, down 0.6% from the previous week; the Shanghai Containerized Freight Index (SCFI) was 1550.74 points, down 2.6% from the previous week. In terms of exchange rates, the US dollar index was oscillating at a low level. The US dollar to RMB exchange rate was 7.200, a week - on - week increase of 0.6%, and the US dollar to New Zealand dollar exchange rate slightly increased by 2.0% to 1.69 [58][59].

Report Industry Investment Rating No relevant content provided. Core Viewpoints The report analyzes the weekly situation of the log market, including supply, demand, inventory, price trends, and other influencing factors. The market shows a pattern of weak supply and demand, with the main contract price fluctuating at a relatively high level and the monthly spread tending to narrow. [16] Summary by Directory Overview - The prices of mainstream delivery products in Shandong and Jiangsu markets remained unchanged from the previous week. European spruce and fir in the Jiangsu market were still in short supply. [4] - As of July 20, 29 ships departed from New Zealand in July, with 26 bound for mainland China. It is expected that 16 ships will arrive in July and 13 in August, with an estimated arrival volume of 1.63 million cubic meters in July. [5] - As of the week of July 18, the daily average shipment volume of Lanshan Port and Taicang Port decreased week-on-week. The total inventory of the four major ports increased by 101,500 cubic meters compared to the previous week. [6] - As of the week of July 26, the Baltic Dry Index (BDI) increased by 10.0% week-on-week, and the Shanghai Export Container Freight Index (SCFI) decreased by 3.3%. The US dollar index fluctuated at a low level, with the US dollar to RMB exchange rate decreasing by 0.4% week-on-week and the US dollar to New Zealand dollar exchange rate slightly decreasing by 0.9%. [6] Supply - As of July 20, 29 ships departed from New Zealand in July, with 26 bound for mainland China, 3 for Taiwan, China, and South Korea for unloading. It is expected that 16 ships will arrive in July and 13 in August, with an estimated arrival volume of 1.63 million cubic meters in July. [5][8] - Detailed information on the departure time, load capacity, current port, next port, and estimated arrival time of each ship is provided. [9] Demand and Inventory - As of the week of July 18, the daily average shipment volume of Lanshan Port was 18,600 cubic meters (a week-on-week decrease of 6,000 cubic meters), and that of Taicang Port was 10,500 cubic meters (a week-on-week decrease of 5,000 cubic meters). [6][13] - In terms of port inventory, Lanshan Port had about 1.2318 million cubic meters (a week-on-week increase of 51,000 cubic meters), Taicang Port had about 514,800 cubic meters (a week-on-week increase of 8,400 cubic meters), Xinminzhou had about 446,800 cubic meters (a week-on-week increase of 36,500 cubic meters), and Jiangdu Port had about 222,800 cubic meters (a week-on-week increase of 5,600 cubic meters). The total inventory of the four major ports was 2.4162 million cubic meters, an increase of 101,500 cubic meters compared to the previous week. [6][13] Market Trends - As of July 25, the closing price of the main contract LG2509 was 830 yuan per cubic meter, an increase of 0.8% from the previous week. The market showed a pattern of high-level fluctuations, and the fundamentals maintained a weak supply and demand pattern. [16] - This week, the monthly spread tended to narrow. The 09 - 11 monthly spread was -8 yuan per cubic meter, the 09 - 01 monthly spread was -12.5 yuan per cubic meter, and the 11 - 01 monthly spread was -4.5 yuan per cubic meter. [16] Price and Spread - The prices of various log species and specifications in Shandong and Jiangsu markets remained mostly unchanged from the previous week, with only a few showing slight changes. [20][22] - The report also analyzed the regional price differences between Shandong and Jiangsu for different log species and specifications, as well as the price differences between different tree species and specifications. [23][38] Other - As of the week of July 26, the Baltic Dry Index (BDI) was 2,257 points, an increase of 205 points (10.0%) from the previous week, and its related sub - index, the Handysize Shipping Index BHSI, was 682 points, an increase of 1.3% from the previous week. The Shanghai Export Container Freight Index (SCFI) was 1,593 points, a decrease of 3.3% from the previous week. [53] - In terms of exchange rates, the US dollar index fluctuated at a low level. The US dollar to RMB exchange rate was 7.154, a week-on-week decrease of 0.4%, and the US dollar to New Zealand dollar exchange rate slightly decreased by 0.9% to 1.662. [53]