Sonoco to Hike Prices for Paperboard, Industrial Converted Products
March 8, 2010 - Sonoco said that it will increase prices for all uncoated recycled paperboard grades in the United States and Canada by $60 per ton effective with shipments on April 5.
In addition, the company will increase prices on all paperboard industrial converted products in the U.S. and Canada by 5.5 percent, also effective with shipments on April 5.
“Recovered paper costs have continued to rise rapidly throughout the first quarter of 2010. Key grades, such as old corrugated cartons (OCC), are up by approximately $110 per ton, or 150 percent, since November 2009, according to published lists,” said Harris DeLoach, chairman, president and chief executive officer.
“Actual marketplace prices for recovered paper are currently exceeding listed prices by another $20 to $30 per ton, due to scarcity of supply. As a result, we have no alternative but to pass on these higher raw material costs,” he added