Watching Packaging Corporation of America, International Paper; Shares See Spike In Price As Citi Reported Cascades Announced A Containerboard Price Increase Effective Oct. 7; $40/Ton Linerboard Increase, $70/Ton Corrugating Medium Increase, $40/Ton Increase In Its White-Top Linerboard; Traders Circulate Other Containerboard Manufactures Could See A Price Increase
Portfolio Pulse from Benzinga Newsdesk
Cascades announced a containerboard price increase effective October 7, leading to a spike in the share prices of Packaging Corporation of America (PKG) and International Paper (IP). The price increase includes $40/ton for linerboard, $70/ton for corrugating medium, and $40/ton for white-top linerboard. Traders speculate that other containerboard manufacturers might follow suit.
September 16, 2024 | 7:33 pm
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POSITIVE IMPACT
International Paper (IP) shares saw a price increase after Cascades announced a containerboard price hike. IP may benefit if it adopts similar pricing strategies.
The price increase by Cascades could indicate a broader industry trend. As a significant player, IP might also increase its prices, potentially boosting its revenues.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Packaging Corporation of America (PKG) shares spiked following Cascades' announcement of a containerboard price increase. This could lead to higher revenues if PKG follows suit.
Cascades' price increase in containerboard products suggests a potential industry-wide trend. PKG, being a major player, might benefit from increased prices, leading to higher revenues.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80