政策指明发展方向，行业步入景气周期——造纸行业2008年投资策略

With the policy indicating the trend of development,the industry steps into a booming cycle——The investment strategy of papermaking industry in 2008

造纸行业2007年延续了高速发展的态势,行业盈利能力、固定资产投资和行业景气度均呈增长趋势,行业将逐步走入景气周期。2008年,原材料价格方面,由于新增产能集中释放,木浆价格有望下降,废纸价格由于供给增速放缓、需求强劲等原因将呈现上涨趋势;纸品方面,文化纸和白卡纸的市场情况依旧良好,新闻纸和铜版纸虽然依旧供过于求,但程度将有所缓和,箱板原纸由于产能集中释放,供大于求,行业洗牌或将开始。

The papermaking industry keeps the situation of high speed development in 2007 with the earning capacity, the fixed investment and industry prosperity index showing a rising tendency and the industry will steps into a booming cycle. In 2008, as far as the raw material price is concerned, the price of wood pulp will fall owing to the release of the newly-added productive capacity and the price of waste paper will go up due to the slowing down of the increase of speed in supply and the strong demand; as for the paper products, the market conditions of cultural paper and white cardboard will be at a good state, the supply of newsprint and coated paper will be exceeding their demand but the degree will moderate and the box board base paper will be overstocked due to the fact that its productive capacity has been released and the reshuffle of the industry will begin.