Sappi increases prices for its LWC and MWC grades prices by 6-8% from July 1st 2018 for all markets due to continued cost increases and strong demand. This follows previous announcements made for its woodfree coated and woodfree uncoated grades.
https://www.sappi.com/sappi-increase-lwc-and-mwc-grade-prices
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Norske Skog has worked closely with the insurance company, equipment suppliers, and other parties to determine the extent of damages following the rockslide on 27 April. The rockslide caused significant damage to buildings, cranes, machinery, and equipment associated with paper machine 6 (PM6). A settlement has now been reached between Norske Skog Saugbrugs and the insurance company regarding insurance coverage for both business interruption and property damage, estimated up to NOK 2.4 billion, which will jointly be covered by the insurance company, the Norwegian Natural Perils Pool, and reinsurers. "The rockslide on 27 April this year was a traumatic experience for Saugbrugs employees, Halden residents, and Norske Skog. Fortunately, no one was physically injured in the rockslide, but PM6 and its associated building structures sustained substantial damage. After significant efforts from mill employees and other stakeholders, we are pleased to have reached an agreement with our insurance company for both business interruption and property damage, estimated up to NOK 2.4 billion. We have had an excellent dialogue and been treated very fairly by our insurance company throughout the process," says Geir Drangsland, CEO of Norske Skog.
The EU has today released a report related to a Trade Barrier Regulation ("TBR") investigation launched following a complaint submitted by CEPI, the European association representing the paper industry. The report upheld the complaint finding that the measures imposed by Turkey on the imports of certain varieties of paper such as office paper, books, envelopes and paper used for direct mail marketing (otherwise known as uncoated wood free (“UWF”) paper) from the EU were inconsistent with both WTO and the EU-Turkey Customs Union rules. “CEPI takes pride in its strong commitment to free trade with its partners. The decision by the Turkish authorities to remove these unfair measures is applaudable; however this issue should never have been escalated in the first place. It is our expectation that the Turkish authorities stand by their obligations under the EU-Turkey Customs Union Agreement in the future” says Sylvain Lhôte, Director General at CEPI. Click Read More below for additional information.
According to the June 2017 Printing-Writing Monthly report from the American Forest & Paper Association, total printing-writing paper shipments decreased five percent in June compared to June 2016. All four printing-writing grades posted year-over-year shipment declines in June. Total printing-writing paper inventory levels increased one percent from May 2017.
Shipments of coated free sheet (CFS) papers decreased 3% year-over-year in June following the increase last month. U.S. imports of CFS papers increased 25% year-over-year in May and exports of CFS papers increased 12% year-over-year in May.