For the Quarter Ending March 2026
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Corrugated Box Price in听APAC
- In China, the Corrugated Box Price Index rose by 5.14% quarter-over-quarter, driven by OCC cost increases.
- The average Corrugated Box price for the quarter was approximately USD 484.00/MT on FOB basis.
- Corrugated Box Spot Price firmed as mills prioritized export bookings while maintaining high operating rates.
- Corrugated Box Price Forecast signals modest upside as energy and feedstock cost pressures sustain pricing.
- Corrugated Box Production Cost Trend: higher electricity tariffs and OCC scarcity increased conversion, furnish cost pressures.
- Corrugated Box Demand Outlook remains supportive from e-commerce and Southeast Asian restocking for seasonal campaigns.
- Corrugated Box Price Index stability from balanced inventories and steady mill runs despite cost pass-throughs.
- Export demand supported FOB availability as shippers rerouted capacity to Vietnam and Thailand for cartons.
Why did the price of Corrugated Box change in March 2026 in APAC?
- Improved OCC collections eased raw material pressure, while higher electricity tariffs prompted mill offer increases.
- Export restocking from Southeast Asia tightened exportable inventories and supported FOB shipment pricing into markets.
- Balanced domestic demand and steady mill operations limited price upside, resulting in marginal March increases.
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Corrugated Box Price in Europe
- In Germany, the Corrugated Box Price Index rose by 0.707% quarter-over-quarter, reflecting higher energy tariffs.
- The average Corrugated Box price for the quarter was approximately USD 664.67/MT, reflecting balanced supply, steady demand.
- Observed Corrugated Box Spot Price remained flat in March as the Price Index signalled market equilibrium across German converters.
- Corrugated Box Production Cost Trend showed upward bias; elevated electricity and natural gas tariffs pressured mills' margins.
- Corrugated Box Demand Outlook remains stable with FMCG and e-commerce supporting baseline volumes despite weaker capital goods exports.
- Near-term Corrugated Box Price Forecast projects limited movement as balanced inventories and steady production constrain volatility.
- Export demand from regional markets absorbed about twelve percent output, supporting the Price Index and local spot availability.
- Integrated mills along the Rhine and Bavaria operated normally, limiting supply shocks and sustaining predictable sheet supply.
Why did the price of Corrugated Box change in March 2026 in Europe?
- Balanced domestic production and moderate demand neutralized upward pressure despite elevated energy-related input costs in March.
- Sufficient inventories and uninterrupted rail and port logistics prevented scarcity, limiting volatility in spot and negotiated prices.
- Offsetting demand patterns across e-commerce and weaker capital goods exports resulted in neutral net demand dynamics.
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Corrugated Box Price in North America
- In USA, the Corrugated Box Price Index fell by 0.7% quarter-over-quarter, reflecting stable demand and limited pass-through.
- The average Corrugated Box price for the quarter was approximately USD 1572.67/MT, reported across Illinois converters.
- Balanced inventories and steady shipments kept the Corrugated Box Spot Price stable, supporting muted Demand Outlook for converters.
- Forward contract schedules and linerboard list increases shaped the Corrugated Box Price Forecast for second quarter.
- Diesel and recovered-fiber costs influenced the Corrugated Box Production Cost Trend, but converters absorbed part of the increases.
- Normal mill operating rates maintained a neutral Corrugated Box Price Index tone, limiting short-term spot market volatility.
- Export flows to Mexico and Canada supported baseline volumes while domestic durable-goods weakness capped incremental pricing power.
- Forecast tables signalled sequential adjustments; producers signalled discipline, preserving margins amid balanced orderbooks and manageable inventories.
Why did the price of Corrugated Box change in March 2026 in North America?
- Stable mill output and steady converter ordering limited pass-through despite upstream linerboard list-price increases in March.
- Adequate OCC availability and near-normal inventories reduced supply pressure, keeping finished-box prices from rising during March.
- Higher diesel and logistics costs increased operating expenses, though converters absorbed margins rather than raising prices.
For the Quarter Ending December 2025
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Corrugated Box Price in North America
- In the USA, the Corrugated Box Price Index fell by 0.83% quarter-over-quarter, reflecting weaker demand.
- The average Corrugated Box price for the quarter was approximately USD 1584.00/MT, reported on FOB.
- Corrugated Box Spot Price softened in December as converters discounted to clear elevated finished-goods inventories.
- Corrugated Box Price Forecast points to modest early-year recovery contingent on restocking and seasonal demand.
- Corrugated Box Production Cost Trend reflected elevated OCC and linerboard, marginally constraining the Price Index.
- Corrugated Box Demand Outlook stays muted, retailers drawing inventories reduced spot liftings and immediate procurement.
- Integrated mills kept operating rates, supplying ample containerboard and limiting upside for domestic box prices.
- Improving OCC collection and benign natural-gas costs tempered production spikes, easing upward pressure on prices.
Why did the price of Corrugated Box change in December 2025 in North America?
- Comfortable Midwest mill availability and steady operations increased supply, reducing sellers' pricing power in December.
- Converters' inventory build-ups and year-end cautious retailer buying suppressed spot liftings and demand for boxes.
- No feedstock or energy-cost shocks occurred, so lack of cost-side support allowed downward price momentum.
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Corrugated Box Price in APAC
- In China, the Corrugated Box Price Index rose by 6.07% quarter-over-quarter, tightening supply and costs.
- The average Corrugated Box price for the quarter was approximately USD 460.33/MT excluding handling charges.
- Corrugated Box Spot Price firmed mid-quarter as mills passed higher wastepaper and winter energy surcharges.
- Corrugated Box Price Forecast points to modest upside from seasonal procurement and persistent feedstock costs.
- Corrugated Box Production Cost Trend rose as OCC and electricity costs increased, compressing mill margins.
- Corrugated Box Demand Outlook moderates post-promotions; FMCG and e-commerce volumes taper, reducing immediate procurement appetite.
- Corrugated Box Price Index softened in December as inventories increased and export enquiries remained subdued.
- Coastal mills maintained high operating rates while downstream inventories built, prompting sellers to trim offers.
Why did the price of Corrugated Box change in December 2025 in APAC?
- Balanced supply and easing seasonal demand in December reduced purchasing, leading to downward price pressure.
- Stable feedstock and energy costs meant no significant cost-push in December, limiting upward pricing momentum.
- Smooth domestic logistics and muted export enquiries left inventories, weakening negotiations and pressuring FOB levels.
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Corrugated Box Price in Europe
- In Germany, the Corrugated Box Price Index rose by 2.01% quarter-over-quarter, due to constrained logistics.
- The average Corrugated Box price for the quarter was approximately USD 660.00/MT, supported by production.
- Corrugated Box Spot Price remained neutral as balanced containerboard supply met steady converter call-offs overall.
- Corrugated Box Price Forecast signals modest near-term softness as post-festive demand eases and inventories normalize.
- Corrugated Box Production Cost Trend showed limited energy-related pressure while recovered-fibre costs remained relatively stable.
- Corrugated Box Demand Outlook remains balanced as e-commerce parcel peaks offset weaker industrial export flows.
- Corrugated Box Price Index stability reflected adequate inventories and efficient logistics limiting upward pricing pressure.
- Domestic mills operated reliably, preserving export availability and supporting converters' run-rates without significant production disruptions.
Why did the price of Corrugated Box change in December 2025 in Europe?
- Logistical constraints at Hamburg constrained exports, but improved rail and motorway function reduced transhipment delays.
- Energy costs remained elevated, pressuring mill margins while producers absorbed costs through integration and surcharges.
- Balanced domestic demand from e-commerce and FMCG offset weaker industrial orders, leaving headline prices effectively unchanged.
For the Quarter Ending September 2025
North America
- In the USA, the Corrugated Box Price Index fell by 5.0% quarter-over-quarter, reflecting subdued demand.
- The average Corrugated Box price for the quarter was approximately USD 1597.33/MT per FOB Illinois.
- Corrugated Box Spot Price remained pressured during summer due to high inventories and muted buying.
- Corrugated Box Price Forecast indicates modest volatility with small monthly adjustments driven by seasonal demand.
- Corrugated Box Production Cost Trend shows mild easing as听kraft paper听input costs softened slightly.
- Corrugated Box Demand Outlook remains subdued with potential holiday-driven uplift expected later in fourth quarter.
- Corrugated Box Price Index reflects export weakness to Mexico and Canada, limiting upward pressure recently.
- Inventories at converters remained ample, prompting mills to prioritize throughput and offer selective discounts periodically.
Why did the price of Corrugated Box change in September 2025 in North America?
- Weak export orders and softened domestic demand reduced buying interest, pressuring FOB prices across quarter.
- Lower upstream kraft paper and recovered fibre costs eased production cost pressure, constraining supplier pass-through.
- Stable logistics and converter inventories removed urgency to buy, keeping bearish Price Index momentum near-term.
APAC
- In China, the Corrugated Box Price Index fell by 4.6% quarter-over-quarter, due to weak exports.
- The average Corrugated Box price for the quarter was approximately USD 434.00/MT reported by exporters.
- Corrugated Box Spot Price weakened amid ample mill inventories and subdued export inquiries from Southeast.
- Corrugated Box Price Forecast indicates mild recovery as seasonal restocking and festival preparations support exporters.
- Corrugated Box Production Cost Trend shows easing kraft paper input costs after earlier weather disruptions.
- Corrugated Box Demand Outlook remains cautious with domestic off-season weakness offset by limited export restocking.
- High mill inventories pressured Corrugated Box Price Index, prompting sellers to reduce offers to clear.
- Planned mill maintenance and shutdowns tightened supply briefly, supporting prices amid stronger festival-driven export scheduling.
- Export enquiries from Thailand, Vietnam, and Mexico remained muted, limiting upside despite mill price increases.
Why did the price of Corrugated Box change in September 2025 in APAC?
- Weakened export demand from Southeast Asia and Latin America reduced offtake, pressuring domestic FOB values.
- Easing kraft paper and wastepaper costs relieved input pressures, allowing mills to temper price increases.
- High mill inventories and cautious buyer procurement strategies limited spot buying, prolonging downward pricing momentum.
Europe
- In Germany, the Corrugated Box Price Index rose by 8.5% quarter-over-quarter, reflecting severe logistics disruptions.
- The average Corrugated Box price for the quarter was approximately USD 647/MT reported domestically during.
- Corrugated Box Spot Price stayed elevated amid outbound delays and freight surcharges at northern terminals.
- Corrugated Box Price Forecast signals moderation as port repairs and rail throughput restore outbound flows.
- Corrugated Box Production Cost Trend reflected higher kraft paper and terminal handling charges this quarter.
- Corrugated Box Demand Outlook remains constructive with FMCG and e-commerce restocking ahead of autumn activity.
- Corrugated Box Price Index volatility eased as inventory rebuild and cautious buyer behaviour tempered upside.
- Export demand softened from delayed shipments, keeping domestic availability tight and supporting near-term pricing resilience.
Why did the price of Corrugated Box change in September 2025 in Europe?
- Severe port and rail disruptions delayed outbound shipments, tightening supply and elevating near-term price pressure.
- Firm domestic FMCG and e-commerce procurement increased offtake while inventories remained low across German hubs.
- Higher kraft paper costs and freight premiums raised production cost trend, supporting pricing despite seasonality.
For the Quarter Ending June 2025
North America
- The Corrugated Box Price Index performance for Q2 saw a total decline of about 3.22, with June ending at around USD 1641/MT.
- The main drivers included declining import demand especially from Mexico, tariff-related input cost volatility, and ongoing end user weakness across charts, e commerce, and industrial end users.
- Why did the price of Corrugated Box change in July 2025?
A sharp 4.48% drop reflected weak Mexican export orders, tariff related uncertainty on Canadian and Mexican pulp imports, and high domestic inventories.
- Oversupply risks manifested in May and June as manufacturers-maintained output amid declining order volumes, pressuring spot prices and depressing margins.
- Supply chain factors included stable kraft paper availability, uninterrupted logistics, but cautious corrugated Box production schedules from inventory build up reduced pricing power.
- Corrugated Box Upstream cost trends showed softening kraft paper and recycled fibre prices, offsetting some margin pressure despite weak demand.
- Corrugated Box demand outlook for Q3 remains subdued as FMCG, e commerce, and industrial restocking lull persists, with price sentiment leaning toward sideways to modestly lower trajectory.
APAC
- Corrugated Box FOB Shanghai prices declined by 7.2% in Q2 2025 compared to Q1, reflecting bearish sentiment and weak external demand.
- In China, overcapacity and weak exports to Southeast Asia (e.g., Vietnam, Thailand) dominated, while India saw stable FMCG-driven demand but limited bulk buying.
- Corrugated Box prices fell in April 2025 due to soft downstream demand, excess supply, and limited e-commerce-related uplift during the off-season.
- A 1.9 million tonne capacity addition between Apr-Jun intensified oversupply, compressing margins and restricting price recovery.
- Corrugated Box high inventories, stable production, and slow overseas procurement exerted constant pressure on spot market rates.
- Corrugated Box production cost support was short-lived, and mills operated at cautious rates amid poor order visibility and thin profitability.
- The Corrugated Box demand outlook for Q3 2025 remains subdued, with limited recovery expected due to ongoing global trade softness, off-season sluggishness in e-commerce, and muted overseas procurement from key markets like Southeast Asia. Persistent inventory overhang and cautious ordering from end-use sectors such as FMCG and retail are likely to keep consumption restrained.
- Corrugated Box prices are forecasted to stay soft through Q3 as seasonal demand weakness persists and global trade sentiment remains tepid, delaying recovery.
Europe
- Corrugated Box FD Hamburg prices rose by 20.5% in Q2 2025, reaching USD 650/MT in June amid severe logistics disruptions.
- FMCG and e-commerce demand remained strong while regulatory port constraints and congestion amplified delivery delays.
- Why did the price of Corrugated Box change in July 2025?
听Logistical bottlenecks at Hamburg, including MSC relocation and automation works, tightened supply and pushed prices up.
- Hamburg faced the steepest impact, while Bremerhaven and Wilhelmshaven saw smoother operations but limited market relief.
- Corrugated Box Inventory levels remained tight as buyers advanced orders to navigate shipping delays, sustaining bullish demand sentiment.
- No major corrugated Box production issues occurred, but rail closures, truck restrictions, and yard congestion escalated costs and curtailed outbound supply.
- The demand outlook for Corrugated Box in Q3 2025 remains firm, supported by steady offtake from FMCG and e-commerce sectors, as buyers continue to advance purchases to mitigate ongoing logistical disruptions and delivery uncertainties.
- 听The Corrugated Box price forecast for Q3 indicates potential upward pressure if port congestion and inland transport bottlenecks persist, though any easing in logistics could stabilize the market.
