The American Forest & Paper Association (AF&PA) released its Q3 2023 Containerboard Quarterly report. According to the report, total Containerboard production in the third quarter of 2023 decreased 1% when compared to Q3 2022 and was down 8% compared to the same 9 months last year. Highlights include:
- Operating rates for all major grades decreased compared to Q2 2023 while total production was up 4.2%; Q3 has one more production day than Q2.
- Total production for export was up 16.2% from Q2 2023 and also up 16.3% from Q3 2022, though it was 10.7% lower year-to-date.
- New supply of containerboard (domestic production plus imports) increased for the third consecutive quarter but was still down 7.1% year-to-date.
- Mill inventories ended the quarter at 370,500 short tons, 11.6% lower than at the end of Q3 2022.