N.A. Newsprint Markets Remain Weak
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January newsprint prices were flat m/m, Wilde reports. November industry numbers were weak, he adds—North American shipments were off 9.7% y/y (-5.9% ytd) and exports were +9.9% y/y, much lower than the ytd growth of ˜50% y/y. "Thanks to widespread capacity shuts, operating rates are healthy. Inventories are falling and advertising ‘trends' are improving. Newsprint consumption by U.S. daily newspapers was down just 1.3% y/y in Nov (-8.2% ytd). In a recent conference call, AbitibiBowater said that more newsprint capacity cuts and consolidation will be required to offset declining North American demand," Wilde notes.
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