Despite recent declines from record breaking high levels, forest product market experts anticipate prices for lumber and panels will remain strong throughout North America for the next several years. The demand for building products will be led by both new construction and home renovation as tight inventory and aging existing homes, along with low interest rates and untapped home equity.
News in lumber
European Lumber Exports Continue to Grow
European lumber exporters continue to expand their overseas sales markets. Growing them over the past ten years from 30% to 45% and with a fifth of total export production in 2020 going to Asia. Traditionally most of the shipments went to neighboring countries on the continent and about 20% being shipped to the Middle East\Northern Africa, the US and Japan.
Hampton Lumber CEO Reports Fort St. James Mill Rebuild Remains on Schedule
Steve Zika, the CEO of Hampton Lumber, put to rest the rumors that the company is planning on delaying the construction of the Fort St. James mill. In a statement Zika said, “None of that is true; nothing has really changed with the plans for the mill or the dates; we have said it is going to be approximately two thirds of the size of Babine mill and that’s how it will be.”
The Sale of the Kenora Forest Products Sawmill Sale to 1347 Investors LLC., Completed
According to an October 6th, press release, the sale of the former Kenora Forest Products sawmill, in Kenora, Ontario, Canada has been completed.
Year-Over-Year Canadian Lumber Production 1.5% Higher in July 2020
Statistics Canada is reporting that Canadian Lumber production decreased -7.4% from June’s 4 491.1 thousand cubic meters in July 2020. Year-over-year production was 1.5% higher (July 2019 – July 2020).
SDS Lumber Company Exploring Changes to their Diverse Businesses
SDS Lumber Company, founded nearly 70-years ago, has announced that it is in the process of actively exploring changes to their diverse businesses.
United States Appeals World Trade Organizations Ruling on Canadian Lumber Subsidies
The United States announced on Monday, (9/28) that it has appealed a World Trade Organization (WTO) ruling that favored Canada in the longstanding battle over lumber imports, describing the decision as “deeply flawed”.
Best Wood Schneider GmbH Releases Details on High-Tech Sawmill in Meßkirch
Best Wood Schneider GmbH with production site in southern Germany has released more details on their plans to build a state of the art, Euro 80 million sawmill in Meßkirch. The new mill will produce up to 200,000 m3 of lumber and 100,000 m3 of CLT per year.
Western Forest Products CEO responds to Changes in the B.C. Manufacture Forest Products Regulations
Western Forest Products, President and CEO Don Demens, has responded to the British Columbia provincial government changes to the Manufacture Forest Products Regulations, which are scheduled to go into effect on September 30th, 2020.
Kenora Forest Products Sold to Itasca Capital
1347 LLC, operating under Itasca Capital, announced on Thursday (9-17) that they have purchased the closed Kenora Forest Products for $11.5 million. According to a media release the purchased assets include the sawmill and related equipment and lands of approximately 114 acres.