Caraustar Industries has announced plans to raise the price for all its grades of uncoated and coated recycled paperboard by $50 per ton, effective with shipments March 19.
The increase is in addition to previously announced increases for recycled paperboard grades.
In calling for the increase, Michael Keough, president and CEO, said, "We have not witnessed this type of rapid escalation of recovered fiber costs since the mid-'90s. We are seeing spot pricing significantly above published market price lists for certain recovered paper grades. The current recovered fiber market conditions have necessitated that we pass this cost increase through the supply chain."
Caraustar is not the only paperboard producer hiking prices.
Late last week Sonoco announced it was increasing the prices for recycled paperboard by $50 per ton with shipments the middle of this month. The increase follows an earlier announced $40-$50 per ton price increase in North America that went into effect March 1.
Representatives from Sonoco also pointed to the sharp jump in prices for recovered fiber as a reason for the increase in prices.
The Newark Group also recently announced a price increase that is to go into effect early this month
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