Port Hakwesbury Paper SC Price Announcement

On August 29, 2017, the Department of Commerce (the Department) initiated a less-than-fair value (LTFV) investigation of imports of certain uncoated groundwood paper from Canada.[1] Currently, the preliminary determination is due no later than January 16, 2018. On August 29, 2017, the Department of Commerce (the Department) initiated a less-than-fair value (LTFV) investigation of imports of certain uncoated groundwood paper from Canada.[1] Currently, the preliminary determination is due no later than January 16, 2018. Therefore, pursuant to section 733(c)(1)(A) of the Act, we are postponing the deadline for the preliminary determination by 50 days (i.e., 190 days after the date on which the investigation was initiated). As a result, the Department will issue its preliminary determination no later than March 7, 2018. Click Read More below for additional information.

Zhenyong Liu, Chairman and Chief Executive Officer of Orient Paper, commented, "Our third quarter results largely reflected the impact of a government mandated temporary restriction on production volume that has been in place since November 2016. Total revenue decreased by 10.6% year over year to $33.5 million on the back of a 36.1% drop in overall volume that more than offset the increase in blended average selling prices. Looking ahead, we expect the newly elected Communist Party of China leaders to continue to promulgate rules and regulations on environmental protection that could lead to government-mandated temporary restriction or suspension on paper production from time-to-time, leading to significant changes in pricing and supply/demand balances." Click Read More below for additional information.

The World Trade Organization has agreed to establish two panels to examine Canada’s complaint about duties imposed by the United States on softwood lumber imports, reports CBC. The Canadian government requested the WTO on March 27 to set up a panel to examine the dispute after consultations with the United States in January failed to resolve the matter. The country also requested a second panel to review the US’s use of differential pricing methodology in its anti-dumping determinations. The United States objected to these requests.