Export OCC plummets by 20-30/ton to seven-month low as major Chinese buyer reduces orders;ONP,mixed also fall

摘要

A huge demand reduction by China's largest buyer of US recovered paper the last two weeks caused a rapid plunge in export prices,contacts said on Apr.3.Old corrugated containers (OCC) dropped 20-30/ton from where they were at the start of March,sinking to a seven-month low,and other bulk grade levels also fell.America Chung Nam (ACN),the buying arm of China's largest containerboard and boxboard producer Nine Dragons Paper,cut back orders in the USA since late March and reduced or eliminated orders from Europe until at least Apr.15,several contacts said.This sparked oversupply and a 10-30/ton decline on bulk grade exports.