Total U.S. Containerboard Production Increased 12 Percent in Q4 2023

U.S. operating rates for all major grades of containerboard in Q4 2023, except Recycled Medium, increased compared to Q3 2023, while total production was up 2.6%.

Jan. 28, 2024 - The American Forest & Paper Association (AF&PA) released its the Q4 2023 Containerboard Quarterly report. According to the report, total containerboard production in Q4 increased 12% compared to Q4 2022. It was down 3% when compared to the same 12 months of 2022.

• Operating rates for all major grades except Recycled Medium increased compared to Q3 2023 while total production was up 2.6%.
• Total production for export for the year was up 2.6%. It had been trailing year-ago levels through the first 3 quarters but finished the year strong, as Q4 2023 exports were over 60% higher than the same quarter last year.
• New supply of containerboard (domestic production plus imports) ended the year 3.5% lower than in 2022 as total production declined and the share of exports increased.
• Mill inventories ended the quarter at 447,700 short tons, their highest level for the year but 2.7% lower than at the end of 2022.

About AF&PA

The American Forest & Paper Association (AF&PA) serves to advance U.S. paper and wood products manufacturers through fact-based public policy and marketplace advocacy. The forest products industry is circular by nature. AF&PA member companies make essential products from renewable and recycle resources, generate renewable bioenergy and are committed to continuous improvement through the industry's sustainability initiative — Better Practices, Better Planet 2030: Sustainable Products for a Sustainable Future.

The forest products industry accounts for approximately 5% of the total U.S. manufacturing GDP, manufactures about $350 billion in products annually and employs about 925,000 people. The industry meets a payroll of about $65 billion annually and is among the top 10 manufacturing sector employers in 43 states.

SOURCE: AF&PA