Group 1: Report Industry Investment Rating - Not mentioned in the provided content Group 2: Core View of the Report - The sentiment of macro commodities has turned positive recently, and prices are expected to rise in the short term [2] Group 3: Summary According to Relevant Catalogs Futures and Spot Prices - On August 6, 2025, the price of SP2601 was 5428, with a daily increase of 0.44% and a decrease of 1.34% compared to the Japanese version; SP2605 was 5404, with a daily decrease of 0.30% and a decrease of 1.22% compared to the Japanese version; SP2509 was 5170, with a daily increase of 0.19% and a decrease of 2.93% compared to the Japanese version [1] - The spot price of coniferous pulp Silver Star was 5850, unchanged from the previous day and down 1.18% compared to the Japanese version; Russian Needle was 5180, unchanged and down 4.43%; Broadleaf pulp Goldfish was 4080, unchanged and down 1.69% [1] Outer - disk Quotes and Import Costs - The outer - disk quote of Chilean Silver Star was 720 dollars, down 2.70% from the previous period; Chilean Star was 500 dollars, down 10.71%; Chilean Venus was 620 dollars, unchanged [1] - The import cost of Chilean Silver Star was 5884, down 2.68% from the previous period; Chilean Star was 4101, down 10.60%; Chilean Venus was 5073, unchanged [1] Supply - In June 2025, the import volume of coniferous pulp was 67.8 tons, down 6.09% from May; broadleaf pulp was 143.5 tons, up 10.98% [1] - The shipment volume of W20 to China in May 2025 was 140, up 3.30% from April [1] - The domestic production of broadleaf pulp and chemimechanical pulp fluctuated in July 2025 [1] Inventory - As of July 31, 2025, the inventory of Chinese pulp mainstream ports was 210.5 tons, a decrease of 3.8 tons from the previous period, a 1.8% decline [1] - The inventory of the futures delivery warehouse also showed certain changes during the period [1] Demand - The production of major finished papers decreased slightly this week, and the prices of finished papers remained low, providing weak support for pulp [1] Valuation - On August 6, 2025, the Russian Needle basis was 10, with a quantile level of 0.72; Silver Star basis was 680, with a quantile level of 0.904 [1] - The import profit of coniferous pulp Silver Star was - 34, with a quantile level of 0.545; broadleaf pulp Goldfish was - 21, with a quantile level of 0.613 [1]