The American Forest & Paper Association (AF&PA) has released its Q1 2024 Containerboard Quarterly report. According to the report, total Containerboard production in Q1 increased 7% compared to Q1 2023.
- Operating rates for all major grades except Semichemical Medium increased compared to Q4 2023 while total production was down 0.7% (Q1 had 1 less day than Q4).
- Unbleached Kraft Liner production for export surged more than 41% over its year-ago levels. The Q1 2024 export total was higher than any quarter in 2023.
- Despite the significant increase in exports, domestic new supply was up 3.7% from Q1 2023 due to the increase in domestic production, as well as a 12.6% increase in imports of containerboard. New supply declined slightly from Q4.
- Mill inventories ended the quarter at 429,400 short tons, lower than at the end of 2023, but higher than any other month last year.