Total U.S. Containerboard Production Increased 7 Percent in Q1 2024

The American Forest & Paper Association (AF&PA) released its Q1 2024 Containerboard Quarterly report. According to the report, total containerboard production in Q1 increased 7% compared to Q1 2023.

U.S. operating rates for all major grades of conatainerboard in Q1 2024, 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.

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