The American Forest & Paper Association (AF&PA) has published the Q3 2025 Containerboard Quarterly report. According to the report, total Containerboard production in Q3 diminished 3.1% compared to Q3 2024. It was down 3% when compared to the same nine months of 2024.
The operating rates for all four major grades augmented from Q2, as capacity declined 1.7% over the same period. Year-to-date operating rates are flat compared to 2024.
Domestic new supply in Q3 was essentially flat compared to Q1 2025, which was an improvement from a weak second quarter.
Inventories at mills peaked in August to nearly 462 thousand short tons, climbing to their highest level in over 15 months, and then declined 8% in September.
The American Forest & Paper Association (AF&PA) serves to advance U.S. paper and wood products manufacturers through fact-based public policy and marketplace advocacy.
The forest products industry accounts for approximately 5% of the total U.S. manufacturing GDP, manufactures about $350 billion in products annually and employs about 925,000 people. The industry meets a payroll of about $65 billion annually and is among the top 10 manufacturing sector employers in 43 states.
