Total packaging papers & specialty packaging shipments in July increased seven percent compared to July 2019. They were up three percent when compared to the same seven months of 2019.
The operating rate was 84.5 percent, up 2.2 points from July 2019 and down 0.7 points year-to-date.
Mill inventories at the end of July decreased 1,000 short tons from the previous month and were up 17,000 short tons compared to July 2019.
https://afandpa.org/media/news/2020/08/17/american-forest-paper-association-releases-july-2020-packaging-papers-monthly-report
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Polyethylene resin producers are implementing a 5th price increase to the market on all grades of polyethylene effective December 1st, 2020. The polyethylene supply chain has had additional production disruptions with unplanned shutdowns in Texas and Mexico. These outages have tightened an already stressed supply chain for raw material as demand for PE products continues to remain strong. Consistent with this market change, effective with orders placed on or after February 6th, 2021 for immediate shipment (normal lead times), Heritage Bag will increase stock pricing on all can liner and food bag products by 6%. Non-guaranteed contracts will also be raised 6% on that date. We are unable to extend additional price protection or accept loading orders in advance of the price increase.
Sonoco announced that two members of the Company’s Board of Directors will be leaving. Marc D. Oken, 75, chairman and founder of Falfurrias Capital Partners, a Charlotte, N.C., private equity firm, has reached the Board’s mandatory retirement age and will not stand for reelection at the Company’s 2022 Annual General Meeting. Oken joined the board in 2006 and serves on the Company’s Executive Committee as well as the Executive Compensation, Audit and Corporate Governance and Nominating committees. In addition, Lloyd M. Yates, 61, who was recently named President and Chief Executive Officer of NiSource, Inc. (NYSE: NI), a Merrillville, IN, energy holding company, extended his resignation to Sonoco’s Board, effective March 1, 2022. Yates served on Sonoco’s Board since 2019 and is a member of Audit, Financial Policy and Employee and Public Responsibility committees. Yate’s resignation was not the result of any disagreement between Yates and the Company, its management, board of directors or any committee thereof, or with respect to any matter relating to the Company’s operation, policies or practices.
Metsä Board’s CEO Mika Joukio: ”In 2024, demand for fresh fibre paperboards has clearly improved from last year’s record-low level, although demand growth has been somewhat slower than expected. At the beginning of the year, demand was boosted by restocking in the value chain, which levelled out towards the end of the first half. In July–September, the demand and price situation for paperboards was similar to the previous quarter. Due to higher living costs, consumers’ purchasing behaviour remained relatively cautious, and consumption is more focused on services than on products. Metsä Board’s first half was overshadowed by the political strikes in Finland and the gas explosion at Metsä Fibre’s Kemi bioproduct mill. These caused us large production and sales losses and significant additional costs. We expect the negative impact on the operating result to total EUR 65 million, including the impact of Metsä Fibre’s share of the result. The July–September result includes EUR 23 million in insurance compensation related to the gas explosion in Kemi. Negotiations with the insurance consortium are still ongoing.