“This postponement will allow third countries, member states, operators and traders to be fully prepared in their due diligence obligations," the European Council said.

Read a snippet of the monthly paper packaging monitor, analyzing key trends in the North American paper packaging demand, production, shipments, inventories, capacity, operating rates and trade.

Three factors that shaped the first half of 2024 for European paper packaging markets – and our outlook for the second half

“Demand is weaker than expected. If they are taking unplanned downtime, they face a new situation, customers are not taking as much volume [as estimated],” one buyer said.

North American pulp markets saw their first price decreases of the year due to global price erosion, increased inventories, and reduced US spot market prices.

The pulp prices fell due to increased inventories and supply availability, with northern bleached softwood kraft (NBSK) and southern bleached softwood kraft (SBSK) experiencing price drops amid summer slowdowns and muted demand from China.

In August, US prices for high deinking grades and pulp substitutes rose due to improved demand and tight supplies, driven by growth in the Away-from-Home tissue sector and increased mill consumption.

In July, low-grade consumption remained muted across key regions with the three main sectors, while the pallet market struggled with low prices and a surplus of recycled pallets.

DS Smith announced a Euro 60/tonne price increase for European customers, with stable RCCM production costs and rising old corrugated container prices, while UKL prices surged across Europe except in the UK, hinting at potential hikes and market fluctuations.

There have been challenges with high recovered paper costs and sluggish demand from China, while fine paper prices saw modest increases driven by higher shipping costs, impacting both local and Chinese markets.