A price hike announced in October will be set in motion in the next few weeks, the CEO of Abitibi-Consolidated has …
A price hike announced in October will be set in motion in the next few weeks, the CEO of Abitibi-Consolidated has said. John Weaver confirmed that another newsprint price increase is to be expected in the new year, as the industry begins to benefit from better supply and demand, Canadian Press has reported.
According to CP, Weaver said that Abitibi’s position in the industry is such that it can influence overall prices through the reduction of its own capacity. He also said that after seven consecutive newsprint price hikes, prices are now approaching what is referred to as ‘trendline’ pricing.
“North American inventories are significantly lower for newsprint,” CP reported Weaver as saying. “We’ve seen some rebound in October and November, [after a third quarter drop in lumber prices] the fourth quarter should be somewhat better than the third, especially in terms of pricing.”
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