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Lee & Man warn it will buy less recycled paper

Raymond Lee, the founder and chief executive of Chinese containerboard producer Lee & Man Paper Manufacturing, has warned that his company will be forced to stop buying new material in order to reduce its high inventories of paper.Speaking at the European Paper Recycling conference in Amsterdam at the beginning of the month, he explained that prospects for the paper industry were not good.He was decidedly pessimistic about near- and medium-term growth prospects ...