Market-related curtailments in British Columbia served as signs that framing lumber markets were oversold and downside risk was waning. A curtailment announced Wednesday stemmed the slide in Canadian S-P-F and ignited a buying rally in futures. While defined by some traders as a “Spruce event,” trading perked up in western species as well. Softening prices early in the week firmed and rebounded, and a $1 uptick in the Random Lengths Framing Lumber Composite broke an eight-week string of losses. Week ...
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