{"id":87249,"date":"2024-01-30T09:13:54","date_gmt":"2024-01-30T09:13:54","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/quebec-sawmills-losing-big-as-lumber-demand-drops\/"},"modified":"2025-09-19T09:01:28","modified_gmt":"2025-09-19T09:01:28","slug":"quebec-sawmills-losing-big-as-lumber-demand-drops","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/quebec-sawmills-losing-big-as-lumber-demand-drops\/","title":{"rendered":"Quebec sawmills losing big as lumber demand drops"},"content":{"rendered":"

Sawmills in Quebec have not turned a profit for more than a year due to the drop in demand for lumber, according to industry experts.<\/span><\/p>\n

After hitting record pieces during the pandemic \u200b\u200bof $1,500 US per thousand board feet in 2021, the price of lumber plunged in 2022 and now hovers around $575 for the same amount.<\/p>\n

The situation pushed some sawmills in the province to temporarily slow down production in 2023 to limit deficits.<\/p>\n

One\u00a0sawmill in the Quebec region of Lanaudi\u00e8re, the Scierie Saint-Michel, is back to operating at full capacity \u2014 but at a loss, said CEO Jean-Fran\u00e7ois Champoux.<\/p>\n

\"The entire forestry industry has been operating at a loss since the beginning of 2023,\" Champoux\u00a0said.<\/p>\n

The profitability of sawmills is tied to housing starts, which themselves are\u00a0influenced by interest rates.<\/p>\n

Those rates have tripled in the last two years, according to Francis Cortellino, economist for the Canada Mortgage and Housing Corporation.<\/p>\n

Housing starts in Quebec fell by 32 per cent in 2023, he added.<\/p>\n

Jean-Fran\u00e7ois Champoux, CEO of a sawmill in the Lanaudi\u00e8re region of Quebec, says his sawmill is losing money despite operating at full capacity. (Radio-Canada)<\/div>\n

\"When interest rates are high, financing conditions are difficult and projects that were previously profitable are no longer profitable,\" Cortellino said.<\/p>\n

\"So projects are delayed. Projects are cancelled,\" Champoux agrees.<\/p>\n

\"During the pandemic, we had a lot of purchases and renovations [but now] we have a more restricted market, because interest rates completely cancel out the construction market,\" he said.<\/p>\n

Jean-Fran\u00e7ois Samray, the director of the Quebec Forest Industry Council, said he expects interest rates to drop, which should mean more housing starts on the horizon.<\/p>\n

\"[It] looks set to be a good year in terms of market recovery. The American Federal Reserve has already indicated that March should be the month when rate cuts will occur,\" said Samray.<\/p>\n

On Wednesday, the Bank of Canada announced it was keeping its key overnight interest rate at five per cent.<\/p>","protected":false},"excerpt":{"rendered":"

Sawmills in Quebec have not turned a profit for more than a year due to the drop in demand for lumber, according to industry experts. After hitting record pieces during the pandemic \u200b\u200bof $1,500 US per thousand board feet in … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":67684,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4716],"tags":[],"class_list":["post-87249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-trends"],"acf":[],"yoast_head":"\nQuebec sawmills losing big as lumber demand drops - 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\/quebec-sawmills-losing-big-as-lumber-demand-drops\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Quebec sawmills losing big as lumber demand drops - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"Sawmills in Quebec have not turned a profit for more than a year due to the drop in demand for lumber, according to industry experts. 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