Lumber futures surged to their highest level since 2022, driven by a steep increase in U.S. duties on Canadian imports and a tight domestic supply. September lumber contracts closed at $695 per thousand board feet, marking a 39% year-on-year rise despite continued weakness in housing construction and remodeling demand. The U.S. Department of Commerce recently raised antidumping duties on Canadian lumber from 7.7% to nearly 21%, with total duties for many producers reaching approximately 35%. Canada supplies about a quarter of all lumber used in the U.S., and the increased costs are expected ...