推薦產(chǎn)品
3-(4-chlorophenyl)-4-phenyl-4,5-dihydro-1H-pyrazole 2-(chloromethyl)-3-methylpyridinehydrochloride 1-(2-bromo-4-methylphenyl)ethanone 3-chloroisoquinoline-4-carbonitrile 5,8-dichloropyrido[3,2-d]pyridazine 2-bromomalononitrile 2-(4-(bromomethyl)phenyl)benzo[d]thiazole 1-(bromomethyl)-3-methoxy-2-nitrobenzene 6-bromo-1H-[1,2,3]triazolo[4,5-b]pyridine 4-iodo-2-((trimethylsilyloxy)methyl)thiazole 6-iodoimidazo[1,2-a]pyridine-3-carbonitrile 2-(4-chlorophenyl)-2-morpholinoacetonitrile 4-chloro-7H-pyrrolo[2,3-d]pyrimidine 4-chloroisothiazole 5-bromo-6-chloro-1H-indole 7-chloro-3H-imidazo[4,5-b]pyridine ethyl3-(4-formylphenyl)propanoate 2,3-dibromobenzaldehyde 1-(5H-chromeno[2,3-b]pyridin-7-yl)ethanone 5H-chromeno[2,3-b]pyridin-5-one 3-chloroisoquinoline-4-carbaldehyde (E)-2-(3-oxoprop-1-enyl)benzaldehyde methyl4-formyl-3-nitrobenzoate 5,6-dimethoxy-2,2-dimethyl-2,3-dihydro-1H-inden-1-one 1-methylbicyclo[4.1.0]heptan-3-one 3-nitro-4-(trifluoromethoxy)benzaldehyde 2-hydroxyquinoline-6-carbaldehyde 2-nitro-3-(trifluoromethyl)benzaldehyde 1-(2-fluoro-4-methoxyphenyl)propan-2-one tert-butyl3-fluoro-4-oxopiperidine-1-carboxylate tert-butyl3-oxopropylcarbamate 2,2-dimethylcyclohexanone 9H-carbazole-3-carbaldehyde N,N-dimethyl-2-oxoacetamide 2-methylpent-4-yn-2-ol 3-tert-butyl-4-hydroxybenzonitrile 4-bromo-2-tert-butylphenol 1,3-dibutoxypropan-2-ol methyl4-hydroxyquinoline-6-carboxylate methyl3-cyano-4-hydroxybenzoate 4-chloro-6-methoxyquinolin-7-ol 3,4-dihydro-2H-benzo[b][1,4]oxazin-7-ol 2-(2-aminothiazol-5-yl)ethanolhydrochloride (R)-ethyl2-chloropropanoate (S)-4-amino-5-(4,4-dimethylcyclohexylamino)-5-oxopentanoicacid (1s,4s)-4-hydroxycyclohexanecarboxylicacid (S)-2-(tetrahydrofuran-3-yloxy)aceticacid (1S,4R)-1-methyl-4-(prop-1-en-2-yl)cyclohex-2-enol (R)-4-(hydroxymethyl)oxazolidin-2-one (S)-4-(hydroxymethyl)oxazolidin-2-one 化工資訊 事件:據(jù)云投林紙官網(wǎng)報(bào)道,5月3日-4日,玖龍紙業(yè)董事長(zhǎng)張茵、副總裁張成飛等一行6人到普洱市和云投林紙進(jìn)行考察交流,洽談合作事宜。進(jìn)口廢紙政策趨嚴(yán),國(guó)內(nèi)廢紙供應(yīng)趨緊今年以來(lái),進(jìn)口廢紙新政提升了進(jìn)口廢紙含雜率的要求,對(duì)廢紙進(jìn)口行業(yè)的影響十分深遠(yuǎn)。據(jù)中國(guó)海關(guān)進(jìn)出口數(shù)據(jù)統(tǒng)計(jì),2018年前11批廢紙進(jìn)口額度批復(fù)了1071萬(wàn)噸,相較于2017年同期的2810萬(wàn)噸減少了62%,2018年第一季度,廢紙進(jìn)口量726萬(wàn)噸,相較于2017年同期的777萬(wàn)噸減少了6.5%。今年5月4日,海關(guān)總署對(duì)進(jìn)口美國(guó)廢物原料實(shí)施風(fēng)險(xiǎn)預(yù)警監(jiān)管措施,各港口到港廢紙開(kāi)箱率將顯著上升,未來(lái)廢紙退運(yùn)率將升高。我們判斷,從年起的未來(lái)三年,國(guó)內(nèi)廢紙進(jìn)口量將逐步減少,未來(lái)國(guó)產(chǎn)廢紙的需求量將上升,價(jià)格抬升趨勢(shì)將難以逆轉(zhuǎn)。
應(yīng)對(duì)廢紙短缺,大廠探索木漿原材料應(yīng)對(duì)廢紙供應(yīng)量短缺,價(jià)格上升的趨勢(shì),除玖龍紙業(yè)外,國(guó)內(nèi)廢紙消耗大廠如太陽(yáng)紙業(yè)、山鷹紙業(yè)均在木漿上做出嘗試布局,太陽(yáng)紙業(yè)利用自身技術(shù)研發(fā)優(yōu)勢(shì),開(kāi)發(fā)了用于替代廢紙漿的新型漿種生產(chǎn)線;山鷹紙業(yè)前期收購(gòu)北歐紙業(yè)等在歐洲地區(qū)探索布局漿紙產(chǎn)能,這些廢紙系大廠在木漿原材料的布局和嘗試,實(shí)際上是在布局?jǐn)U大自身原材料來(lái)源,豐富產(chǎn)品種類,也在一定程度上應(yīng)對(duì)今年終端出現(xiàn)的包裝紙產(chǎn)品升級(jí)的市場(chǎng)需求,未來(lái)包裝產(chǎn)品將向高檔纖維,低克重等高端產(chǎn)品發(fā)展。
看好具備原材料資源整合能力的箱板瓦楞紙龍頭公司未來(lái)造紙行業(yè)的原材料爭(zhēng)奪將日趨激烈,擁有多樣化原材料資源整合能力的箱板瓦楞紙大廠將處于行業(yè)競(jìng)爭(zhēng)的優(yōu)勢(shì)地位,看好具備進(jìn)口廢紙資源優(yōu)勢(shì)和布局木漿替代部分廢紙纖維能力的龍頭企業(yè),我們看好太陽(yáng)紙業(yè)和山鷹紙業(yè),預(yù)計(jì)太陽(yáng)紙業(yè)2018年EPS為1.03元,PE為11.31,山鷹紙業(yè)2018年EPS為0.6元,PE為7.42,維持“買入”評(píng)級(jí)。
風(fēng)險(xiǎn)提示:廢紙進(jìn)口政策轉(zhuǎn)向?qū)е聫U紙供應(yīng)量回暖,箱板瓦楞紙新增產(chǎn)能超預(yù)期投放導(dǎo)致行業(yè)供需失衡
