Softwood Lumber Prices Slide Downward as More Sawmill Closures are Announced
Recent B.C. Interior sawmill closures were anticipated, still more mill closures to come as a result of the mountain pine beetle epidemic. The recent announcement by Canfor and West Fraser that there were both closing sawmills in the B.C. Interior seems to have caught many in the industry by surprise.
The North American softwood lumber market continued its inexorable slide downward toward year-end last week, with prices even further lowered over the week before, according to madisonsreport.com. Prices for Western softwood have plunged from over US$650 per thousand board feet in June to under US$400 as concerns mount about the US housing market.
The trick turned out to be to fool my sawn lumber into behaving like it was cleaved. I did this by opening my eyes to how I bought wood at the lumberyard. When most people buy wood at the yard they look at the wide faces of the boards for knots and beautiful figure.
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Rex Lumber Co. plans to invest $110 million to build a sawmill with a minimum 240MMBF annual production capacity near Troy, Ala. Rex Lumber currently operates three sawmills, two in the Florida Panhandle and one in Mississippi, producing a total of 575MMBF annually. Site work at the new Pike County sawmill is scheduled to start on March 15.
The investments made by the Asian companies, in particular, the Chinese companies in the forestry sector in Gabon over the past fifteen years, appear each day more and more important. These companies are indeed specialized in the buyout of multinationals, permit or to Gabonese capital and companies in the business of “farming” with forest concessions of national operators.
READ MORE: B.C. foreign buyers tax really did yank down Vancouver home prices: BMO “When we look at the extent of it, we had concluded at the time – given the available data – that it was a market segment for sure, but it was not the most significant driver of housing demand or prices in the region,” Muir told Global News.
Unlike the last softwood dispute with the U.S., which led to the loss of 20,000 forestry jobs and saw an estimated 400 sawmills. prices, more than offsetting the 10 to 24 per cent import duties the.
We continue to target CapEx of $160 million for 2019 which includes the next phase of Saint-Felicien, as well as a number of investments to improve costs and productivity at sawmills. For the quarter,