There was a buying frenzy in the eastern spruce lumber market yesterday. Heavy demand spurred the activity. Wholesalers ramped up purchases, speculating that prices were rebounding and going higher. The mills saw non-stop business most of the day, but sales slowed late in the day as they had very little left to offer. Distributors sold strong, quickly firming up pricing. There were several examples of eastern Canadian mills seeing reduced production capacity due to an influx of Covid cases, putting a strain on mill production and the ability to quote additional material.
10 Likes