U.S. operating rates for all major grades of containerboard in Q4 2023, except Recycled Medium, increased compared to Q3 2023, while total production was up 2.6%.

Jan. 28, 2024 - The American Forest & Paper Association (AF&PA) released its the Q4 2023 Containerboard Quarterly report. According to the report, total containerboard production in Q4 increased 12% compared to Q4 2022. It was down 3% when compared to the same 12 months of 2022.
　

• Operating rates for all major grades except Recycled Medium increased compared to Q3 2023 while total production was up 2.6%.
• Total production for export for the year was up 2.6%. It had been trailing year-ago levels through the first 3 quarters but finished the year strong, as Q4 2023 exports were over 60% higher than the same quarter last year.
• New supply of containerboard (domestic production plus imports) ended the year 3.5% lower than in 2022 as total production declined and the share of exports increased.
• Mill inventories ended the quarter at 447,700 short tons, their highest level for the year but 2.7% lower than at the end of 2022.
  　

About AF&PA
The American Forest & Paper Association (AF&PA) serves to advance U.S. paper and wood products manufacturers through fact-based public policy and marketplace advocacy. The forest products industry is circular by nature. AF&PA member companies make essential products from renewable and recycle resources, generate renewable bioenergy and are committed to continuous improvement through the industry's sustainability initiative — Better Practices, Better Planet 2030: Sustainable Products for a Sustainable Future.

The forest products industry accounts for approximately 5% of the total U.S. manufacturing GDP, manufactures about $350 billion in products annually and employs about 925,000 people. The industry meets a payroll of about $65 billion annually and is among the top 10 manufacturing sector employers in 43 states.

Source: AF&PA