In September of 2025, global corrugated box markets experienced moderate price increases influenced by a combination of strong demand for the festive season, stable raw material costs, and tight supply conditions. In China, prices increased due to an increase in the cost of waste yellow cardboard, lower production levels from the shutdown of mills, and consumption accelerating from traditional e-commerce, food and beverage, and FMCG levels. The USA market maintained stable-to-positive momentum due to positive consumer confidence, festive demand, and increasing adoption of sustainable/green packaging. However, there were limitations on price gains stemming from strong inventories and higher costs of wastepaper. In Germany, market firmness continued as a result of external supply chain factors, including port congestion and rail and logistics disruption limitations, along with robust e-commerce and FMCG activity. In all regions, producers continued to face cost pressures and logistical constraints, while benefitting from strong demand domestically and for exports. In all, the corrugated box market retained a bullish tone through September and was expected to continue to experience a moderate degree of stability into the fourth quarter of 2025.
