Tracking Weekly Paper Printing Industry
This week Keywords: U.S. coated paper double reverse case hearing held in the preliminary ruling, coated paper exports greatly increased in the first half. This week an overview of reference sources: paper kind of price advantage steadily, Wood pulp , Widely reported paper up. The general trend
Paper: paper prices still on rise. Compared with last week, double offset prices up 0.08 percent this week, the price slightly; coated paper prices remain unchanged this week; White Cardboard Prices rose slightly this week, 0.62%; duplex board prices edged down 0.22%; cardboard and Corrugated paper September prices continue to rise sharply and 8.21% 11.66%; China and Thailand in September rose 4.10% newsprint, but the practical effect of the price rise remains to be seen; Kraft paper Prices in September edged up 0.86%.
General trend of raw materials: Short-term imports of pulp prices rose slightly, imports of waste paper in EADS were mixed. This week, the European pulp prices (in euros) mixed, the dollar pulp prices rose. In September since the RMB against the major pulp producing countries has shown a depreciation of the currency exchange rate trend, the appreciation this week is a certain degree. Main brands imported wood pulp price (RMB) rose slightly by 0.21% this week, while the monthly chain by downstream price pressures continue to fall until 1.17%. This week EADS were mixed waste paper, U.S. Waste Europe and waste, the major labels on scrap paper weekly gain was 1.06%, 0.04% and 2.18%; month gain was 1.84%, 3.14% and 3.23%.
Pulp production this week, the RMB against the major currency exchange rates begin to reverse the decline, a certain degree of appreciation.
Gross margin continued to rise prior to August (12.79% vs 12.00% in May before). Before August Chi rebound before the May indicators, based on gross margins continue to rise to 12.79% Sell Although the total amount of revenues and profits year on year negative growth, but prior to May taking a step forward relative rate reduced (-4.48% vs-7.76%, -27.61% vs-40.29%). Before the August data before the May data show that the relative industry continues to warm.
Sector investment logic, ratings and stock recommendations. Sector investment in the first half of the main line was the dominant species of volume growth and price increases on paper, in the second half as the dominant paper species abundance line price increases next year, paper dominant species abundance line capacity expansion, choose a new paper on the project was the dominant species and the relative size of the original expansion of large listed companies as investment targets. Earlier this month, again as expected, strong paper kind of price increases, price adjustment several times since May, will lead to major Papermaking Central leading company in the third quarter earnings rose more than 60% over the fourth quarter sequential growth of 50%. To maintain "strong in the big city" of the industry rating. Valuation results by next year, the paper industry Recommend Bo Paper, Sun Paper and Chenming Paper. Other light we are still bullish on long-term growth, Hop Hing Packaging.
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