Packaging: Containerboard: Another $50/ton price hike implemented = $100/ton increase year to date

Research evidence excerpt

Packaging: Containerboard: Another $50/ton price hike implemented = $100/ton increase year to date

Deutsche Bank

Research

North America Industry Date

Packaging Packaging 19 June 2026

Containerboard: Another $50/ton price hike

Hillary Cacanando, CFA implemented = $100/ton increase year to date

Research Analyst

+1-212-250-3393

Successful implementation of June price increases

On Friday afternoon, Fastmarkets RISI announced that North American

containerboard prices increased by $50/ton in June. This marks the third

significant increase this year, following a net $50/ton rise over March and April,

bringing the total year-to-date increase to $100/ton. Below are our key takes:

• Supply is the primary driver: The price hike is primarily driven by

significant supply constraints with producers retiring an unprecedented

10% of U.S. containerboard capacity (approximately 3.9 million tons)

between February 2025 and March 2026, creating a tight market.

• Low Inventories & Extended Lead Times: Mill inventories are lean, with

several major producers reporting lower stocks. Packaging Corp of

America, for example, reported a 90,000-ton inventory reduction in

March and April alone. This has extended mill backlogs to five-to-eight

weeks, up from five weeks last month, with some new domestic orders

quoted for six-week delivery.

• Stable to Modest Demand Uptick: There are reportedly signs of a modest

demand uptick, partly attributed to increased demand for food service

packaging related to the FIFA World Cup being held across North

America. Corrugated box demand is also expected to hit its seasonal high

from September through November.

Price Hike Details

Fastmarkets' latest assessment confirms the $50/ton increase across key grades

as follows: