-----Original Message-----
From: 	Causholli, Monika  
Sent:	Monday, October 29, 2001 2:10 PM
To:	Aguilera-Peon, Maria Teresa; Allan, David; Biggerstaff, Finley; Boudreaux, Jay; Braune, Carlos; Bruce, Michelle; Bruce-Jones, Tom; Bruch, Greg; Bryja, James; Carter, Karen E.; Conner, Andrew R.; Crane, Bob; Dimitry, Dirk; Ferrell, Daniel; Foster, Michael; Hernandez, Morela; Juvane, Danilo; Kabel, Jeff; Kiehne, Sean; Rickard, Craig; Robinson, Richard T.; Schmidt, Joern; Schube, Jonathan; Stapley, Cecil
Subject:	World market pulp inventories fall nearly 10 percent  

The good news for the pulp producers continue as worldwide chemical paper-grade market pulp producer inventories declined 345,000 tonnes in September from the prior month, according to preliminary data from the Pulp and Paper Products Council in Montreal. World inventories have fallen seven consecutive months as producers reduced their stocks 9.7 percent from opening levels.
World producer stocks closed September at 3.073 million tonnes, representing 33 days of supply and a four-day reduction from August levels. Producer inventory results are 19.4 percent higher than year-ago figures, when world producers held 28 days of supply. The inventory results were by far the largest single month reduction this year. The year's prior high was in June, when producers brought down inventories by 171,000 tonnes but faced a bloated 3.528 million tonnes of stock. 
September production of 2.525 million tonnes tumbled 10.2 percent vs. year-ago results of 2.812 million tonnes. Production levels were 5.9 percent lower than the prior month. 
Global shipments improved both month-over-month and compared to the same period last year. Shipments of 2.870 million tonnes rose 2.8 percent higher than year-ago results of 2.792 million tonnes, and surged by 4.4 percent vs. August despite a slower week of activity following the Sept. 11 terrorist attacks. 
Producers operated at 84 percent of capacity in September, down 11 percent from the same time last year when producers ran at 95 percent. Meanwhile, the shipment-to-capacity ratio, considered an indicator of producer discipline, advanced another 5 points to 95 percent, PPPC reported.