Apr. 28 at 8:49 PM
Packaging stocks moved higher Monday after Citi analyst Anthony Pettinari said Smurfit Westrock is raising U.S. corrugated boxboard prices by
$50 per ton, effective June 1.
Shares of Smurfit Westrock rose 1.7%, while International Paper and Packaging Corporation gained around 3% each, reversing earlier declines following the news.
Pettinari, citing RISI, noted that other companies in the sector could follow with similar price hikes, adding he will be watching for peer announcements in the coming days. The increase applies to U.S. corrugated products, a key material used in boxes and broader packaging applications.
The move signals potential pricing power returning to the sector, which could support margins if broadly adopted across the industry.
$SW $IP $PKG