Sonoco Hikes Price Of Uncoated Recycled Paperboard As Inflation Woes Persist

Sonoco Products Co SON said it is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) in the U.S. and Canada.
The price hike will be effective with shipments beginning May 30, 2022.
Sonoco said the price change reflects continued tight market conditions and inflationary pressures on manufacturing costs, including energy, freight, chemicals, packaging materials, and labor.
"We continue to be challenged by strong demand, increasing backlogs and inflating costs," said Tim Davis, Division VP and General Manager, Paper – U.S. and Canada.
Price Action: SON shares are trading lower by 2.97% at $60.07 on the last check Monday.