WRK - Relief rally for containerboard and paper stocks after pricing update

2023-03-20 12:36:38 ET

Containerboard and paper stocks broke higher on Monday after the latest update from Pulp & Paper Week showed flat prices and no further discounting for key segments. Notably, corrugating medium prices were unchanged a $110 per ton spread versus 42-lb kraft liner. Boxboard prices were also unchanged across grades to reverse a downward trend over the last two months,

WestRock Company ( WRK ) +5.01% led the rally with an upgrade from Citi helping push it higher. Other advancers include Sonoco Products Company ( SON ) +4.82% , Packaging Corporation of America ( NYSE: PKG ) +4.45% , Pactiv Evergreen ( PTVE ) +4.30% , O-I Glass ( OI ) +3.55% , Berry Global Group ( BERY ) +3.25% , Greif ( GEF ) +3.20% , International Paper ( IP ) +3.19% , and Silgan Holdings ( SLGN ) +2.40% .

Tupperware Brands ( TUP ) +7.05% was also notably higher in mid-day trading. The stock frequently trades in tandem with the containerboard sector on pricing developments.

See Seeking Alpha Quant Ratings across the paper packaging sector.

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