Sonoco to Hike Prices for Paperboard, Tubes and Cores in U.S., Canada
Nov. 4, 2010 - Sonoco said that it will increase prices for all uncoated recycled paperboard grades in the U.S. and Canada by $30 per ton effective with shipments on Nov. 29.
In addition, the company announced that it will increase prices on all paperboard tubes and cores in the U.S. and Canada by 5 percent effective with shipments on Nov. 29.
“Prices for old corrugated containers in the Southeast have increased by one-third in the past three months, which is unprecedented during what is normally the highest material generation time of the year,” said Harris DeLoach, Sonoco chairman, president and chief executive officer.
“Strong domestic and export demand is causing an imbalance in the supply of recovered paper, which is our primary raw material. It is essential that we begin recovering these higher input costs.”
The Nov. 29 price increase for Sonoco's uncoated recycled paperboard grades is in addition to a $35 per ton increase which went into effect on Oct. 11, 2010, the company said.