Tariff Quote Watch: Sappi Suffers From The Trade War, But Not Due to Tariffs — Panjiva
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Tariff Quote Watch: Sappi Suffers From The Trade War, But Not Due to Tariffs

Ags - Forestry 127 China 2982 Indonesia 102 Materials - Chemicals 244 Quote Watch 452 Tariffs 1804 U.S. 5329

Wood-pulp maker Sappi canceled its dividend for this year, with CEO Steve Binnie stating the firm’s worsened prospects include “lower dissolving wood pulp prices driven by the ongoing trade wars and slower economic growth in various geographies”. U.S. exports of dissolving wood pulp – Sappi’s main product – have been subject to Chinese tariffs since Sept. 2018. Exports to China by all manufacturers fell by 8.7% year over year in 3Q, while total exports fell by 1.4% after shipments to Indonesia surged. Seaborne exports linked to Sappi fell 72.0%, yet its shipments to China have been zero...

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