Domestic Uncoated Paper Markets Sluggish
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U.S. uncoated free sheet (UFS) demand is sluggish, Mark Wilde of Deutsche Bank says. June cut-size shipments were -9.7% y/y and offset was -4.0% y/y. A $40/ton cut-size price hike for late-May/early-June and $60/ton on offset grades has not gained much traction, he adds. Producers have been able to implement partial hikes on envelope paper (+$20/ton), MOCR (+$30), and forms bond (+$30). Weak demand in Europe and a weaker euro have raised the risk of more European imports. July 20-lb repro-bond prices were flat at $1,035 - $1,085/ton, and 50-lb offset was flat m/m at $910 - $930/ton.
The uncoated mechanical paper market also remains anemic, Wilde continues. Second quarter shipments were down 15.7% y/y, while 35-lb estimated offset prices slipped $5/ton m/m in July.
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