More paper price rises loom large
Wednesday, August 3, 2022
Another wave of paper price rises look set to impact the sector as two manufacturers announce further double-digit increases.
Mitsubishi HiTec Paper and Sappi Europe have separately announced increases across their portfolios from next month.
Both manufacturers cited continuing rising cost and volatility in raw materials, energy and transportation.
Mitsubishi HiTec Paper is set to raise prices across its entire portfolio by up to 15% for worldwide deliveries from 1 September.
Japan headquartered Mitsubishi operates two mills in Germany producing 185,000 tonnes of barrier, carbonless, inkjet, label and thermal papers.
Meanwhile, Sappi Europe is to raise the prices of its its woodfree coated and uncoated papers, and paperboard by 8-10% from 12 September.
This latest rise follows an increase of 10%-25% implemented in February.
The 12,500 staff South Africa headquartered group, which operates 10 mills across Europe, said in a statement: “The cost outlook remains uncertain and Sappi will continue to adjust pricing if costs escalate further.”
Both Mitsubishi and Sappi statements said their respective sales teams will contact customers direct to detail how the rises impact individual grades and countries.