China's need for US ONP falls in a big way; major producer slashes demand

摘要

Well stocked Chinese containerboard mills started out 2010 with less desire for US old corrugated containers (OCC), especially as OCC was in the midst of its third fastest and largest pricing run-up in the last 30 years. The result was that US OCC exports to China in January and February declined 12% vs January-February 2009 exports, according to US government figures, after gaining by 15% for all of 2009 vs 2008. This reduction helped US domestic containerboard mills rebuild OCC stock by nearly 25% last month.