Ticker: IP
Industry: Pulp & Paper Packaging
Year-to-date performance: -12.8%
"On the export front, the impact is likely to be limited, in our view," said UBS. "In 2017, 13% of North American containerboard production was exported, but China represented only 9% of total exports (or 1% of North American container-board production). In our view, North American producers could redirect China volumes to other regions to avoid a potential import tariff imposed by China."