In the North American uncoated free sheet area, September volumes were disappointing, -7.1% y/y, -4.8% m/m & YTD -1.5% y/y, Wilde reports, adding that "this is the worst y/y comp in almost one year.
"Since September 2009 was an easy comp (-7.3% y/y), it's hard to put a happy face on these numbers. Between the two grades, UFS roll shipments appear stronger due to recovery in commercial printing, while cut-size shipments are still hit by high unemployment levels. These numbers are apt to increase pressure on prices. We are hearing some reports of spot deals on both cut-size and offset rolls. UFS ‘list' prices in September were flat versus August levels. While prices for both offset and repro bonds are up $40-50/ton since May, recent shipments data and conversation with trade contacts suggest prices could come under increasing pressure in the coming months," Wilde says.
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