U.S. Lumber Production Soared, Canadian Output Slumped
The logs exports to China are likely to remain under pressure, following claims by China that it has found pests in logs imported from Canada.
SEATTLE (Scrap Monster): The latest issue of the Western Wood Products Association’s monthly Lumber Track suggests continued improvements in softwood lumber production in the U.S. during the initial two-month period this year. On the other hand, Canadian production recorded decline during this period.
The lumber production volume during Jan-Feb ’20 surged higher by 5% to 6,163 mfbm in the U.S. This compares with the production of 5,862 mfbm during the comparable period in 2019. However, the monthly production reported 10% year-on-year decline in February this year, on account of Covid-19 pandemic.
On the other hand, the Canadian softwood lumber production recorded year-on-year decline by 7.8% in the first two months of 2019. The production during this period totalled 3,766 mfbm, as compared with the production of 4,084 mfbm during Jan-Feb ’19.
ALSO READ: WRQ Report on Global Forest Industry in Q1 2020
The logs exports to China are likely to remain under pressure, following claims by China that it has found pests in logs imported from Canada. Incidentally, the country has received 16 non-compliance notifications from China with respect to discovery of pests in hardwood and softwood log shipments. The claims are being investigated by Canadian authorities.
Meanwhile, the latest Madisons Lumber Reporter cited that North American softwood lumber prices continued to surge during recent weeks towards 2018 highs.
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