20251117-永安期货-纸浆早报_1页_491kb

Paper Pulp Market Summary

SP Main Contract

• Closing price on 2025/11/14 was 5480.00.
• Price drop of -0.97579% from the previous day.
• Spot price USD equivalent was 681.44.

Basis

• Shandong basis remained at 70 on November 14.
• Jiangsu Shanghai basis varied between 66 and 81 in recent days.

Supplier Prices and Imports

• Key suppliers: Jinshi (CFR 780, import profit -$127.94), Canadian firm (CFR 730), Chilean firm (CFR 680, import profit +$24.36).
• All prices calculated with 13% VAT.

Average Pulp Prices (13% VAT)

• Pinewood prices stable at approximately 6245 RMB for Shandong region.
• No changes observed from November 10 to 14 for pine, broadleaf, bleached, and chemist pulp.

Profit Margins and Indices

• Doubledouble paper profit declined from -1.0753% to -1.5226%, while other margins like doublecopper (from 12.1935% to 11.8226%) and white card (from -8.1551% to -7.7921%) decreased.
• Life cycle paper profit decreased to 3.5744%, with a notable change of -0.7640 from the prior day.
• Market indices for cultural, packaging, and lifestyle paper showed no change over the period.