SP月报：宏观回落现货充足，造纸经营压力持续

目录1 第一部分前言概要...........................................................................................4第二部分总览与说明........................................................................................5第三部分宏观供应...........................................................................................6 ➢厄尔尼诺..........................................................................................7➢南方涛动..........................................................................................8 第四部分微观供应|木材端................................................................................9 二、海外数据...............................................................................................10 ➢美国CME木材期货.........................................................................10➢加拿大林业产品价格........................................................................11➢俄罗斯木材业..................................................................................12➢马来西亚木材业...............................................................................14 三、国内数据...............................................................................................15 ➢锯材进口金额..................................................................................15➢非针木片进口重量...........................................................................17➢木片进口价格指数...........................................................................19 四、绝对价格...............................................................................................21 ➢交割利润：人民币针叶浆基差季节性.................................................21➢交割利润：美元针叶浆（银星）基差季节性.......................................23➢期货市场持仓..................................................................................26➢跨品种价差：非标基差&加工利润....................................................27 六、全球数据...............................................................................................32 ➢加拿大交通运输...............................................................................33 第1页共116页 SP月报 ➢欧洲纸浆库存&消费.........................................................................35➢日本纸浆........................................................................................38 八、国内数据...............................................................................................42 ➢纸浆进口........................................................................................42➢纸浆库存........................................................................................44➢沿海货物吞吐总量...........................................................................46➢进出口总额.....................................................................................47 第六部分微观消费|造纸端..............................................................................48 九、海外数据...............................................................................................48 ➢美国造纸业.....................................................................................48➢日本、韩国、巴西三国纸制品出口.....................................................54➢韩国造纸业.....................................................................................56➢欧盟书报文具HICP.........................................................................58➢泰国造纸业.....................................................................................59 十、国内数据...............................................................................................61 ➢台湾省造纸业..................................................................................61➢机制纸及纸板产量...........................................................................68➢造纸业经营情况...............................................................................70 第七部分宏观消费.........................................................................................83 十一、全球数据.....................................................................................83➢多国官方储备资产...........................................................................83➢综合领先指标..................................................................................85➢制造业PMI.....................................................................................86➢权益市场........................................................................................88➢商业信心指数..................................................................................90➢全球经济政策不确定性指数...............................................................92十二、海外数据.....................................................................................93➢欧洲经济景气指数...........................................................................93➢美国制造业产能利用率.....................................................................94➢日本景气动向指标...........................................................................95十三、国内数据.....................................................................................96 第2页共116页 SP月报 ➢克强指数........................................................................................96第八部分宏观信用..........