中金2026年造纸行业展望:供给收尾 原料为王

智通财经网
Dec 12, 2025

智通财经APP获悉,中金发布研究报告称,2026年造纸需求整体仍在温和修复,虽然供给进入收尾阶段,但2025年新增产能爬坡释放,判断供需相对宽松,从边际新增压力来看,该机构判断文化纸>特种纸>白卡纸。原料端看,近年来在浆纸产业链激烈博弈下,浆价周期变得更短,成为造纸行业补库和去库关键推动力,也扮演投资决策“信号枪”角色。据中金统计,下一个大型商品浆项目或2027年投产,期间暂无确定性较高项目,预计...

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