"The sector can not pass these extra costs on to final consumers, as it does not set world market prices. Manufacturing costs are already high. The profits and success of European companies is therefore very dependent on their local, European, manufacturing," said CEPI managing director Teresa Presas. "Any additional costs from ETS will further weaken the profitability of the EU industry, especially as global competitors do not face these extra costs." 

The rising cost of energy and raw materials is also having an impact in the shorter term, with reports that paper company M-Real has told customers it will be raising prices by between 5% and 8%. 

UPM declined to comment on the market outlook. Source

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