According to the National Association of Home Builders (NAHB), near record and record high lumber prices, supply chain disruptions, along with U.S. imposed tariffs on Canadian softwood lumber imports are all contributing to price volatility in the marketplace.
News in lumber
Unusually Wet Summer in North – Central British Columbia Helps to Keep Wildfire Numbers Low
An unexpectedly wet summer, to date, in the North – Central interior of British Columbia has helped to keep wildfires unusually low.
J.D. Irving Completes $1.8 million Energy Efficient Investment at Ashland Maine Facility
In a news release, J.D. Irving is reporting that their sawmill in Ashland, Maine has recently completed a $ 1.8 million dollar energy efficient investment, which includes an upgrade to the boilers and an additional control room.
British Columbia Provincial Grant to Provide On-Site Work Experience to Nine Workers Affected by Recent Mill Curtailments
The Invasive Species Council of British Columbia (ISCBC) learned it will receive over $550,000 from the Province’s Community and Employer Partnerships program (CEP) to provide on-site work experience to up to nine workers affected by recent mill curtailments.
U.S. Commerce Enforcement and Compliance Division adding 60 Additional Days onto All Antidumping and Countervailing Duty Reviews
Deadline for all antidumping (AD) and countervailing duty (CVD) administrative reviews pushed back 60 days, which will delay the anticipated duty adjustments on Canadian softwood lumber entering the U.S.
B.C. Sawmills High Operating Costs Slows Province and Industry Recovery
The British Columbia forest industry was deteriorating prior to the COVID-19 pandemic. Since mid-2019, B.C. has experienced a disproportionately high number of sawmill closures and curtailments compared with other states and provinces.
U.S. Softwood Lumber Production Increases in January and February While Canadian Production Declines
The latest issue of the Western Wood Products Association’s monthly Lumber Track reports that for the first two months of 2020, U.S. lumber production volume increased by 5%, when compared to the first two months of 2019.
Lumber Prices Rebound in Second Quarter from the Impact of COVID-19 Pandemic
Barron’s, a leading source of financial news, is reporting, what lumber and building materials dealers across North America clearly know; lumber prices rebounded in the second quarter of 2020.
New Zealand Experiencing a Sharp Fall in Log Prices
New Zealand is currently reporting a sharp fall in log prices. Evan MacClure, a Timaru-based director for Forest Management (FM) said “an estimated 30% drop in price” will impact both companies and contractors.
U.S. Department of Commerce Announces Immediate Lifting of Tariffs on Canadian WRC Shake & Shingle
US Tariffs on Canadian Western Red Cedar imports removed.