US containerboard stocks remain persistently 'high' after modest May drop; $10-20 West Coast price adjustment

摘要

US containerboard inventories remain persistently high after showing a less than average 42,500-ton drop in May as mills ran at 97% of capacity despite little sign of any pickup in box shipments, according to the latest industry statistics. Nevertheless, prices remained relatively stable in the US East — even for corrugating medium and recycled grades, which have been in the most oversupply. The West Coast market, however, is reported to be more competitive due to new containerboard supply and possible impact of the California drousht on summer/fall agricultural box demand.