造纸行业周报：纸浆库存去化浆价显著回升

大同证券2025-12-23

核心观点包装纸价格稳中有调，供给收缩成长期支撑：本周包装纸价格呈现分化，瓦楞纸均价微降30 元/吨，箱板纸、白卡纸价格保持平稳，白板纸均价稳定在3501 元/吨。长期来看，龙头减产效应持续显现，玖龙、理文、山鹰2026 年初预计减产27 万吨，且行业新增产能进入收尾阶段，2026 年仅太阳纸业有70 万吨产能计划释放，供需格局将持续优化，为价格中枢回升奠定基础。纸浆库存大幅去化，价格显著回升：纸浆...

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造纸行业周报：纸浆库存去化 浆价显著回升

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造纸行业周报：纸浆库存去化浆价显著回升