Consumer packaging company Sonoco is all set to increase the price for all grades of uncoated recycled paperboard (URB) products.
Effective with shipments in the US and Canada beginning 8 July 2013, the prices will be increased by $40 per ton.
Sonoco Primary Materials Group, North America vice president Marty Pignone said the price increase is necessary to recover rising recovered paper and other raw materials costs.
"The posted price for old corrugated containers (OCC) in the Southeast U.S. has risen approximately 60 percent since September 2012 and OCC being sold in the market today is running above the posted price of $120 per ton. In addition, demand for all grades for URB products is strong," Pignone said.
Sonoco, a global provider of a variety of consumer packaging, industrial products, protective packaging and packaging supply chain services, has annualized net sales of about $4.8bn.