Smurfit Westrock hikes US containerboard price $50/ton

Smurfit Westrock announced a $50 per ton increase in US containerboard prices effective June 1, per Citi analyst Anthony Pettinari citing RISI.
Following the news, Smurfit Westrock shares rose 1.7%, while International Paper and Packaging Corp stocks jumped about 3% each.
The price hike reversed earlier declines in packaging stocks, and analysts expect other sector peers may implement similar hikes this week.