Board Converting News, November 4, 2024

AF&PA: Container Board Production Up 3 Percent In Third Quarter The American Forest & Paper Association (AF&PA) re- leased the Q3 2024 Containerboard Quarterly report on October 25. According to the report, total Container- board production in Q3 increased 3 percent compared to Q3 2023. It was up 6 percent when compared to the same nine months of 2023. Operating rates for all major grades except Recycled Medium declined compared to Q2 2024, but total production was essentially the same between the two quarters. Production for export decreased nearly 15 percent from Q2 and was the lowest quarter so far in this year, but is still up more than 26 percent year-to-date due to the weak export numbers in the first half of 2023. Recycled Medium had a very strong quarter with pro- duction exceeding 1.9 million tons and the operating rate above 90 percent for the first time since Q2 2022. Semi- chemical Medium production on the other hand dipped below 1 million tons for the quarter due to particularly weak September numbers. New supply for Q3 increased 2.8 percent from Q2 and was the highest it has been since Q2 2022, with strong domestic production and imports indicating growing demand for containerboard stateside, compared to the slightly weaker exports.

Box Shipments ( U.S. Corrugated Product Shipments) Industry Shipments In Billions of Square Feet Month June 2024

Year

Actual

Percent Change Avg Week Percent Change

2024 2023

30.635 33.080

-7.4

7.659 7.518

1.9

Industry Total

Year-to Date

June 2024

Year

Actual

Percent Change Avg Week Percent Change

2024 2023

189.589 189.478

0.1

7.464 7.459

0.1

Industry Total

Containerboard Consumption (Thousands of Tons)

Year

Month

Percent Change Year-to-Date Percent Change

2024 2023

2.5331 2.7016

-6.2

15.5229 15.5207

0.0

Container Board Inventory - Corrugator Plants (Thousands of Tons)

Corrugator Plants Only

Date

Percent Change Weeks of Supply

Percent Change

June May

2.2316 2.3155

-3.6

3.8 3.5

8.5

Shipping Days

Year

Month

Year-to-Date

2024 2023

20 22

127 127

SOURCE: Fibre Box Association

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November 4, 2024

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