{"id":77122,"date":"2019-02-18T10:15:00","date_gmt":"2019-02-18T10:15:00","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/huge-crisis-in-the-canadian-lumber-market\/"},"modified":"2025-09-19T08:49:57","modified_gmt":"2025-09-19T08:49:57","slug":"huge-crisis-in-the-canadian-lumber-market","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/huge-crisis-in-the-canadian-lumber-market\/","title":{"rendered":"Huge crisis in the Canadian lumber market"},"content":{"rendered":"

Last week,\u00a0Canfor Corp. announced that it temporarily curtailed operations at three of its sawmills in British Columbia, because of the market conditions. On January 14th,\u00a0West Fraser Timber Co. Ltd. also announced further cuts in its operations.<\/em><\/p>\n

According to BNN Bloomberg, this curtailments are the logical response to the high log costs and the low lumber prices.<\/p>\n

Kevin Mason, managing director at ERA Forest Products Research, explained that\u00a0\u201cWest Fraser has always been viewed as the \u2013 if not one of the \u2013 lowest-cost producers out there and yet, here they\u2019re [reducing production hours]. Canfor\u2019s taking an ounce curtailment and additional extended curtailments. We\u2019re definitely seeing the fact that even traditionally low-cost-producers are realizing that the current situation is untenable and they\u2019ve got to take production offline<\/em>.\u201d<\/p>\n

Moreover,\u00a0 Interfor Corp. and Resolute Forest Products Inc. also reduced production in the fall of 2018, citing market conditions.<\/p>\n

Lumber prices in North America have regained some ground, touching US$418 per 1,000 board feet as of 10:10 a.m. ET on Friday after briefly dipping below US$300 on Oct. 25. The swing was dramatic, with the commodity hitting a 2018 high of US$659 on May 14, BNN Bloomberg reported.<\/p>\n

Other factors which caused the operations' curtailment include the\u00a0mountain pine beetle, slowing U.S. housing demand and high log costs. Many British Columbia companies have started to invest in the Southern US, as to\u00a0balance their dependence on local Canadian supply. Now, the Canadian businesses almost own\u00a0 a third of production in southern US states as they seek alternate sources.<\/p>\n

\u201cWe are seeing capacity move out of the western part of North America, both western Canada and the western United States into the U.S. south, simply because of log supply and production economics. What I see is that there\u2019s going to have to be some more capacity declines in places like British Columbia where log supply is constrained, and I see those players who have gone into the U.S. south \u2013 diversified geographically \u2013 probably doing better going down the road\u201d Robert Hagler, principal at Forest Edge, said.<\/p>\n

Shares of Canfor, Interfor and West Fraser have all gained ground in 2019, while Resolute shares are down three per cent from their final 2018 close.\u00a0However, an industry leader also sees the U.S. push as a hedge against U.S. President Donald Trump\u2019s softwood lumber duties, which have remained in place since April 2017, BNN Bloomberg reported.<\/p>\n

\u201cSome companies have invested in the U.S., which is more of a hedge on the trade file, actually, more than anything<\/em>,\u201d Susan Yurkovich, CEO of the B.C. Council of Forest Industries, said.\u00a0\u201cThe constraints that we\u2019ve had in place would be a 35-year fight around softwood lumber,<\/em>\u201d she added. \u201cThat\u2019s certainly been one of the factors that has led people to purchase or acquire production in the U.S., and they\u2019re doing that<\/em>.\u201d<\/p>\n

Yurkovich also explained that one of the keys to future success for B.C.\u2019s producers is to lessen their dependence on trade with the U.S.<\/p>\n

\u201cWe have made huge in-roads into China. We have about 25 per cent of our product going there. We see lots more opportunity in China and while China\u2019s economy is slowing, as well, it\u2019s slowing on a massive base. So if they have even five per cent growth on that massive base there\u2019s lots of opportunity,<\/em>\u201d she said.<\/p>","protected":false},"excerpt":{"rendered":"

Last week,\u00a0Canfor Corp. announced that it temporarily curtailed operations at three of its sawmills in British Columbia, because of the market conditions. On January 14th,\u00a0West Fraser Timber Co. Ltd. also announced further cuts in its operations. According to BNN Bloomberg, … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":59318,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4713,4716,4715],"tags":[3313,3289,3273,3306],"class_list":["post-77122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companies-in-the-timber-industry","category-latest-trends","category-market-analysis","tag-canada","tag-canfor","tag-forestry","tag-lumber","topic-forestry","topic-sawmilling","area-north-america"],"acf":[],"yoast_head":"\nHuge crisis in the Canadian lumber market<\/title>\n<meta name=\"description\" content=\"Canfor Corp. announced that it temporarily curtailed operations at three of its sawmills in British Columbia, because of the market conditions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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