Paper industry data tracking weekly report

This week's news review keywords: paper gross margins rebounded; printing industry recovery; pulp imports decreased.

This week's reference message outlines: the price of the dominant papers continues to increase; the price of pulp and waste paper stabilizes.

The overall trend of paper products: the price of dominant papers continues to rise. Compared with last week, the price of double-adhesive paper rose by 0.83% this week, up by 1.39% month-on-month; the price of coated paper continued to rise by 1.28% this week, up 3.60% month-on-month; the price of white cardboard rose slightly by 0.46% this week. The monthly price increased by 3.17%; the price of gray-white board paper remained basically unchanged this week, with a monthly increase of 2.03%; the prices of cardboard, corrugated and kraft paper continued to rise by 7.14%, 4.28% and 3.70% respectively in August; news paper as expected in August The price adjustment has risen by 1.52%, and the actual effect remains to be seen.

The overall trend of raw materials: the dual factors of exchange rate and demand prompted the import price to rebound. Since July, although the international pulp price has risen, domestic pulp prices have been relatively stable due to exchange rate factors. This week, the renminbi followed the US dollar to a certain degree of depreciation against the main producers of hardship money. In general, the recent exchange rate factors and demand factors have a greater impact on the price of pulp. The price of imported major wood pulp brands (RMB) has risen significantly in the previous period due to a significant increase in the previous period, down 1.00%, and the monthly increase was 5.97%. The price of waste paper has fallen back this week after a significant increase in the previous period. The main paper wastes of US waste, European waste and daily waste were -0.52%, -0.29% and -1.21%, respectively; the monthly increases were 0.16%, -0.92% and -6.17% respectively.

This week, the renminbi follows the US dollar and continues to depreciate to a certain extent in the major producers' currencies.

Gross profit margin began to pick up in the first five months (12.00% vs 10.40%). Compared with the previous February, sales and profit growth in the first five months began to rebound (-7.76% vs -8.07%, -40.29% vs -52.93%), taking into account the previous May and February of last year. Compared with the upswing, the gross profit per ton of paper is gradually picking up.

In the first half of the year, the main line of investment in the industry was the sales growth and price increase of the dominant paper types. In the second half of the year, the main line was the price increase of the dominant paper type. The main line of the next year was the capacity expansion of the dominant paper type, that is, the new project was selected as the dominant paper type and the expansion of the original scale was compared. Large listed companies are the subject of investment. It is estimated that Fengshou's third-quarter earnings will increase by more than 60% in the third quarter and by more than 50% in the fourth quarter. Maintain an industry rating of “greater than the market”.

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