The dynamic profit margin of the hottest forestry

2022-08-06
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Dynamics of forestry, paper making and packaging industry: profit margin is expected to expand again

release date: Source: China finance editor: Yu Jia browsing times: 6078 copyright and disclaimer

core tip: November data update: the average price of carton paper is 3765/ton (RMB, the same below), an increase of 9.4% month on month/a year-on-year increase of 14.5%; The price of corrugated paper was 3320/ton, with a month on month increase of 9.3% and a year-on-year increase of 15.3%; The price of white cardboard was RMB 4953/ton, with a month on month increase of 1.5% and a year-on-year increase of 8.1%; Cultural paper was 5272/ton, with a slight increase of 0.9% month on month/year on year

november data update: the average price of carton board paper was 3765/ton (RMB, the same below), an increase of 9.4% month on month/14.5% year on year; The price of corrugated paper was 3320/ton, with a month on month increase of 9.3% and a year-on-year increase of 15.3%; The price of white cardboard was RMB 4953/ton, with a month on month increase of 1.5% and a year-on-year increase of 8.1%; Cultural paper was 5272/ton, with a slight increase of 0.9% month on month/year on year. Domestic waste paper price graphene is known as "black gold" 1355/ton, with a month on month increase of 7.0% and a year-on-year increase of 11.7%; The price of imported waste paper was US $207/ton, with a month on month increase of 2.9% and a year-on-year increase of 17.7%, showing a trend of accelerated growth

according to the paper industry lianxun, from January to October 2016, the output of box board paper and corrugated base paper increased by 2.9% and 3.7% respectively year-on-year, and the demand side maintained stable growth; In the same period, according to the data of the National Bureau of statistics, machine-made paper and paperboard increased by 1.9% year-on-year to 100.885 million tons; The papermaking and paper products industry realized an operating income of 1.2 trillion, a year-on-year increase of 5.6%; The total profit increased by 10.9% year-on-year to 60.9 billion yuan. 1. Keep the testing machine clean

the rising cost has accelerated the rise of paper price. In November, due to the rise of waste paper, coal, chemicals and other raw materials at home and abroad, as well as the rising cost of sea and land transportation logistics, the rapid depreciation of RMB, the demand promotion in the double 11 peak season and other factors, according to the report in aluminum times (feb2015, p.12; october/november2015p.8), the price of packaging paper plate entered a rapid rising channel, At present, the inventory level of each packaging paperboard company is at a historical low. But precise positioning. We believe that the price of waste paper will be corrected near the end of the year, mainly because 1) the imported goods cannot arrive in Hong Kong before the end of the year, and the cardboard manufacturers are not in a hurry to purchase; 2) Leading companies represented by nine dragons will start maintenance in January, and the demand side will slow down; 3) The supply of waste paper will increase around Christmas, which will help to curb the current soaring momentum

the profit margin is expected to expand again. According to our model estimates, due to the rapid growth of raw materials in the near future, the income cost scissors difference of packaging board manufacturers has narrowed. We believe that as the growth of raw materials slows down towards the end of the year, the income cost scissors difference is expected to expand again. Next year, carton board companies will better benefit from the price increase effect

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