纸浆早报 研究中心能化团队 2025/12/22 美元价格以及人民币价格均采用卓创数据，以13%增值税计算 | 日期 | | | 全国均价 | | | | 山东地区均价 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 针叶浆 | 阔叶浆 | 本色浆 | 化机浆 | 针叶浆 | 阔叶浆 | 本色浆 | 化机浆 | | 2025/12/15 | 6073.75 | 4810.75 | 5415.00 | 3686.25 | 6245.00 | 4775.00 | 5400.00 | 3600.00 | | 2025/12/16 | 6073.75 | 4810.75 | 5415.00 | 3686.25 | 6245.00 | 4775.00 | 5400.00 | 3600.00 | | 2025/12/17 | 6073.75 | 4810.75 | 5415.00 | 3686.25 | 6245.00 | 4775.00 | 5400.00 | 3600.00 | | 2025/12/18 | 6073.75 | 4810. ...

Group 1: SP Main Contract Information - The closing price of the SP main contract on November 19, 2025, was 5396.00, with a change of -0.22189% from the previous day [3]. - The closing prices and related data from November 13 - 19, 2025, are presented, showing price fluctuations and changes in basis and dollar - converted prices [3]. Group 2: Import Profitability - With a 13% VAT calculation, the import profit for Canadian Golden Lion pulp is - 136.75, for Canadian Lion pulp is - 425.04, and for Chilean Silver Star pulp is 16.68 [4]. - The calculation is based on port dollar prices, Shandong region RMB prices, and the previous day's exchange rate of 7.11 [4]. Group 3: Pulp and Paper Price Averages - From November 13 - 19, 2025, the national and Shandong region average prices of different types of pulp (coniferous, broad - leaf, etc.) remained unchanged [4]. - The prices of cultural paper, packaging paper, and living paper also showed no change during this period [4]. Group 4: Profit Margin Estimates - The profit margin estimates for different types of paper (double - offset, double - copper, etc.) remained stable from November 14 - 19, 2025 [4]. Group 5: Price Spreads - The price spreads between different types of pulp (coniferous - broadleaf, coniferous -本色, etc.) are presented, with some showing minor changes from November 13 - 19, 2025 [4].

Group 1: SP Main Contract Information - The closing price of the SP main contract on August 13, 2025, was 5302.00 [3] - The conversion to US dollars was 645.26, with a daily increase of 0.72188% [3] - The basis of Shandong Yinxing was 558, and that of Jiangsu, Zhejiang and Shanghai Yinxing was 598 [3] Group 2: Import Profit and Price Information - With a 13% VAT calculation, the import profit of Canadian Golden Lion was 51.55, while that of Lion was -392.78, and that of Chilean Yinxing was -51.65 [4] - The exchange rate on the previous day was 7.18 [4] Group 3: Pulp and Paper Price Trends - From August 7 to August 13, 2025, the national average prices of softwood pulp, hardwood pulp, natural pulp, and chemimechanical pulp remained unchanged [4] - The prices of cultural paper, packaging paper, and household paper also remained unchanged during this period [4] - The profit margins of cultural paper, packaging paper, and household paper showed varying degrees of decline [4] Group 4: Price Spreads - On August 13, 2025, the price spread between softwood and hardwood pulp was 1670.00, the spread between softwood and natural pulp was 460, the spread between softwood and chemimechanical pulp was 2035, and the spread between softwood pulp and waste paper was 4284 [4]

Group 1: Report Information - The report is a pulp morning report released by the Energy and Chemicals Team of the Research Center on May 8, 2025 [1] Group 2: SP Main Contract Data - The closing price of the SP main contract on May 7, 2025, was 5138.00. The closing prices on May 6, April 30, April 29, and April 28 were 5036.00, 5120.00, 5178.00, and 5344.00 respectively [2] - The converted US dollar prices on these dates were 620.72, 608.94, 615.30, 622.18, and 639.39 respectively [2] - The daily price changes were 2.02542%, -1.64063%, -1.12012%, -3.10629%, and -0.59524% respectively [2] - The Shandong Yinxing basis on these dates was 1072, 1174, 1115, 1072, and 991 respectively, and the Jiangsu, Zhejiang, and Shanghai Yinxing basis was 1062, 1164, 1145, 1107, and 956 respectively [2] Group 3: Pulp Import Data - With a 13% VAT calculation, the import profit for Canadian Golden Lion pulp was -132.72, for Canadian Lion pulp was -1119.32, and for Chilean Yinxing pulp was -600.17 [3] - The port US dollar prices for Canadian Golden Lion, Canadian Lion, and Chilean Yinxing were 840, 820, and 825 respectively, and the Shandong region RMB prices were 6800, 5650, and 6210 respectively [3] Group 4: Pulp Price Averages - From April 28 to May 7, 2025, the national average prices of softwood pulp, hardwood pulp, natural color pulp, and chemi - mechanical pulp remained unchanged at 6073.75, 4810.75, 5415.00, and 3686.25 respectively. The Shandong region average prices also remained unchanged [3] - The cultural paper (double - offset index, double - copper index), packaging paper (white card index), and living paper (living index) prices remained unchanged during this period [3] Group 5: Pulp Profit Margin Data - The profit margins of double - offset paper, double - copper paper, white card paper, and living paper on April 29, 2025, were 9.7264%, 25.5692%, -10.2353%, and 11.3068% respectively. On May 7, they were 10.9038%, 26.4799%, -10.7381%, and 12.5419% respectively, with a change of 0.0000, 0.0000, 0.0000, and -0.6160 respectively [3] Group 6: Pulp Price Spreads - The price spreads between softwood and hardwood, softwood and natural color, softwood and chemi - mechanical, and softwood and waste paper on May 7, 2025, were 2060.00, 810, 2335, and 4634 respectively [3]