On May 6th, a NAFTA Panel largely upheld US countervailing duties on Canadian softwood lumber products but remanded several aspects of the investigation for clarification and potential adjustments.
News in lumber
US Dept. of Commerce Revises 2015–16 Antidumping Duties in Response to NAFTA Panel Ruling
On April 30th, the US Department of Commerce issued a redetermination of its antidumping duties for certain softwood lumber products from Canada.
Teal Jones Group Reaches Interim Financing Deal; Restarting Operations
Teal Jones Group has reached an interim financing deal that will allow it to restart operations and continue to reorganize its business under court protection from its creditors, The Vancouver Sun reported.
Stimson Lumber Company to Permanently Close Its Plummer, ID, Sawmill
Citing tight operating margins, Stimson Lumber Company intends to permanently close its Plummer, Idaho, sawmill facility by August, The Spokesman Review reported.
Rayonier Advanced Materials Announces Sale of Softwood Duty Refund Rights
Rayonier Advanced Materials has reached agreement regarding the sale to OCP Lumber LLC of the company’s softwood duty refund rights.
Canadian Sawmill Production and Shipments Rise in February
Lumber production rose 8.9% month-over-month to 4,352.4 thousand cubic meters in February. Year-over-year, production was up 10.8%.
US Court of International Trade Orders Commerce Department to Redo Countervailing Duties on Canadian Lumber
The US Court of International Trade ordered the Department of Commerce to “better explain its refusal to check whether suppliers for investigated companies had received government subsidies,” Woodworking Network reported.
Canfor Announces Purchase of El Dorado, Arkansas, Sawmill
Canfor Corporation announced that it has entered into a purchase agreement with Resolute El Dorado Inc., an affiliate of Domtar Corporation, to acquire its El Dorado lumber manufacturing facility located in Union County, Arkansas.
Interfor Announces Temporary Curtailment in All Operating Regions Between May and September
Citing persistently weak market conditions, Interfor Corporation announced on Tuesday (4-30-24), that it plans to reduce its lumber production by approximately 175 million board feet between May and September 2024. The reduction in production represents just under 10% of Interfor’s operating stance.
Teal Jones Files for Creditor Protection at BC Supreme Court
On Thursday, BC-based Teal Jones filed for creditor protection at the BC Supreme Court, Global News reported.