<B>Paper Stock Consumption, Inventory Declining</B>

The consumption of recovered fiber at domestic mills is starting to dip. The recent figures from the AFPA show April's consumption of recovered fiber at 2.894 million tons, compared to last April's consumption total of 3.117 million tons.

Figures for April bring the four-month consumption total to 12.101 million tons, a 2.3 percent decline from last year.

While total consumption is dipping, the inventory of recovered fiber at these mills also is sliding. At the end of April the inventory of recovered fiber stands at 1.034 million tons, a 1.2- percent decline from the previous month. Even more promising, the total is down a sharp 8.4 percent from figures the same time last year.

The decline in inventory levels appears to be following throughout the industry. The number of days of market pulp supply on hand also has declined, by 17.4 percent from figures the same time last year. Newsprint inventories also have been falling, with the level at the end of April down close to 50 percent from the inventory April 1999.