Increased demand livened up activity in the eastern spruce lumber market yesterday. Lower prices inspired clients to be more proactive in giving out firm offers. There was heavy resistance by the mills to take the counters offered. Compromises were found and orders followed. There was also an announcement by Interfor, a major Canadian supplier, on reducing production at their mills going forward. This is one result of the challenges the Canadian mills are facing in the current market, especially in incorporating the 34% duties they are now paying on lumber exports to the U.S.
7 Likes