{"id":80048,"date":"2020-11-17T10:31:22","date_gmt":"2020-11-17T10:31:22","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/canadian-lumber-giants-make-record-profits-optimistic-outlook-2021\/"},"modified":"2025-09-19T08:54:24","modified_gmt":"2025-09-19T08:54:24","slug":"canadian-lumber-giants-make-record-profits-optimistic-outlook-2021","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/canadian-lumber-giants-make-record-profits-optimistic-outlook-2021\/","title":{"rendered":"Canadian lumber giants make record profits; optimistic outlook for 2021"},"content":{"rendered":"

Canadian lumber companies that pulled in record earnings are optimistic about next year despite lower wood prices, as they see the wave of home building and renovations continuing.<\/em><\/p>\n

Norbord Inc., North America\u2019s biggest producer of oriented strand board (OSB), reported record third-quarter revenue while Resolute Forest Products Inc.\u2019s wood segment saw record-high income, boosted by soaring lumber prices and strong demand from home building and do-it-yourself renovations amid the Covid-19 pandemic.<\/p>\n

The long-term growth prospects Norbord sees for the wood-chip panels used in walls and floors could keep costs high for home buyers. In October, the National Association of Home Builders said higher wood costs lifted the selling price of an average, new single-family home in the U.S. by $15,841 since mid-April and that one-third of this increase was due to higher prices for the plywood substitute.<\/p>\n

Demand was so strong that in August, Norbord brought back some production at its mill in Cordele, Georgia. That brought the company\u2019s total output to 86% of capacity, though it\u2019s still down from 92% in the same period of 2019.<\/p>\n

U.S. lumber futures are now nearly 30% below record highs reached in August, when strong demand took the industry by surprise and supplies quickly tightened. But Resolute\u2019s Chief Executive Officer Yves Laflamme expects they will stay around profitable levels.<\/p>\n

\u201cWe\u2019re optimistic for lumber,\u201d said Laflamme in a phone interview. \u201cThe demand is going to stay. Pipeline and inventory is still low as well.\u201d<\/p>\n

Despite strong demand, Norbord said Thursday that a wood shortage due to mountain pine beetle and wildfire damage in Western Canada\u2019s province of British Columbia means it will permanently close its OSB mill in the interior B.C. town of 100 Mile House.<\/p>\n

Montreal-based Resolute reported record operating income for its wood products in the third quarter at $128 million in sales, up from $113 the prior quarter, due to a 57% increase in the average transaction price.<\/p>\n

Despite its optimism, Norbord cautioned in its earnings report that the ongoing pandemic brings \u201cconsiderable uncertainty in the broader economic environment.\u201d<\/p>","protected":false},"excerpt":{"rendered":"

Canadian lumber companies that pulled in record earnings are optimistic about next year despite lower wood prices, as they see the wave of home building and renovations continuing. Norbord Inc., North America\u2019s biggest producer of oriented strand board (OSB), reported … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":58055,"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":[3313,3369,3306,3945],"class_list":["post-80048","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-companies","tag-lumber","tag-lumber-prices","topic-forestry","topic-sawmilling","area-north-america"],"acf":[],"yoast_head":"\nCanadian lumber giants make record profits; optimistic outlook for 2021 - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/canadian-lumber-giants-make-record-profits-optimistic-outlook-2021\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canadian lumber giants make record profits; optimistic outlook for 2021 - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"Canadian lumber companies that pulled in record earnings are optimistic about next year despite lower wood prices, as they see the wave of home building and renovations continuing. 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