Board Converting News, November 23, 2020

FBA: Shipments Jump (CONT’D FROM PAGE 1 )

Core Competency

ventories of liner and medium declined by 147,000 tons, the largest October drop in 13 years,” noted Storat. “At 2.18 million tons, inventories are now at the lowest level since November 2012. In the five months since May, con- tainerboard inventories have dropped continuously by an amount reaching 20.3 percent at the end of October.” AF&PA reported that containerboard mills ran at 98.1 percent capacity in October and medium mills ran at more than 100 percent of rated capacity during the same peri- od. Kraft mills ran at 99.5 percent of capacity and recycled mills ran at 95.6 percent of capacity. “A large share of the reason that box demand is holding up so strongly amid weak overall conditions is because of consumers’ increasing willingness to purchase goods online,” noted Storat. “However, the travel and shopping restrictions brought by the coronavirus pandemic acceler- ated purchases beyond anyone’s projections. Year-over- year growth since March has risen by between 20 and 30 percent. “Currently, e-commerce accounts of 15.5 percent of all sales and has been rising at an average monthly rate of 3.2 percent since March, more than triple the growth rate of total sales since the pandemic has impacted our econ- omy.” Storat wrote that imports of non-durable goods are still supplying most of the spending growth, as exports of packagable goods have declined.

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November 23, 2020

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