International Paper (IP) Said to Increase Containerboard Prices by $50/Ton Effective October 1 - Deutsche Bank
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(Updated - August 25, 2016 1:43 PM EDT)
International Paper (NYSE: IP) is increasing containerboard prices by $50/ton effective October 1st, according to Deutsche Bank analyst Debbie Jones, citing reliable trade contacts.
"Reliable trade contacts have reported that International Paper is increasing containerboard prices by $50/ton effective October 1st. We are not aware of similar moves from other producers, but we suspect additional announcements would come. While many investors have asked about this potential in recent weeks, we don’t believe a successful price increase is currently built into consensus estimates. We would expect the group to rally on this news. Having the number one domestic producer (IP has ~34% share) lends significant credibility to the attempt. We expect announcements at the box level would follow over the next few weeks," said Jones.
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