International Paper Says It’s Confident of Price Gain Acceptance
Stock Chart for International Paper Co (IP)
International Paper Co. (IP), the world’s largest maker of cardboard shipping containers, said it’s confident a $50-a-ton increase in U.S. containerboard and box prices will be accepted by buyers.
“Operating rates are high, inventories are low, export demand is fairly solid, the supply side of the containerboard market is fairly tight,” Chief Executive Officer John Faraci said today in a telephone interview. “Prices have been stable for two years.”
The Memphis, Tennessee-based company plans to raise containerboard prices effective Aug. 1 and boost cardboard-box prices in September.
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