U.S. containerboard production decreased by 4% for the full year 2025 compared to 2024, according to the American Forest & Paper Association. The operating rate for the sector remained stable, ending the year above 91%, the industry organization reported.

Production trends diverged by product and market. While linerboard production for export declined throughout the year, medium production for export increased by 3%.

Semichemical medium and recycled linerboard production saw more modest annual declines of 1% and 2%, respectively.

Mill inventory levels fluctuated, dropping significantly in October before rising through the rest of the Q4 to finish at their highest point since early 2022.