After several years of strong demand and record prices for softwood lumber, the global sawmill industry now faces challenging markets ahead. From 2020 to 2022, supply chain constraints and an unexpected surge in home improvement due to COVID-19 have supported the industry, which is familiar with boom-bust cycles. However, higher interest rates leading to reduced construction and consumer spending are now impacting lumber demand in North America, Europe, and Asia. United States The US represents 26% of global lumber demand but only 19% of supply, mainly importing 27 million m3 from Canada. Demand had been ...