The sales pace remained steady in the eastern spruce lumber market yesterday although it was off what many traders were hoping for. One reason for the let up was the aggressive approach in the market by secondaries. Their quoting habits had buyers second guessing themselves on new purchases. Whether they thought that they could use the orders achieved as leverage against the mills or wanted to liquidate whatever leftover position they had, the effect was felt in the market. One problem was that the mills were not players. They did not have the items needed and were firm with their quotes.
6 Likes