Investing.com - Hamburger Containerboard announced Thursday a €60 per metric ton price increase on all grades of recycled containerboard in European markets beginning in June, according to Truist Securities. The firm said the move is positive for International Paper (NYSE: IP) and Smurfit Westrock (NYSE: SW).

Hamburger Containerboard, the fifth largest European containerboard producer, is raising prices on brown and white uncoated and coated recycled containerboard across all European markets. Truist said producers are accounting for continued input cost pressures and improving market conditions while ensuring sustainable operations and reliable supply.

The announcement follows a €60 per metric ton increase from Saica, the third-largest European containerboard producer. RISI has recognized €60 to €100 per metric ton of higher prices over the last three months, depending on market.

Truist maintains a Buy rating on both International Paper and Smurfit Westrock. The firm said higher containerboard prices should benefit the two companies, which are the largest European producers.

International Paper and Smurfit Westrock shares trade on the New York Stock Exchange under the tickers IP and SW.