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Industry bounces back as lumber prices spike sharply
After three years of deep losses, the B.C. lumber industry is bouncing back with a bang, and mills that survived the deepest recession in memory are making money from two-by-fours for the first time since 2007.
Lumber prices are spiking sharply upward in the U.S. as sawmill curtailments, largely from producers in this province, are finally tightening the supply of lumber heading into the still-fragile U.S. housing market.
"There`s been a dramatic turnaround but it`s taken more than two years," said John Allan, president of the B.C. Council of Forest Industries.
The mill curtailments have finally "bitten," Allan said, tightening the lumber pipeline to the United States.
Companies remain cautious. There is an overhang of foreclosed homes in the U.S. to come on the market and new-home construction remains weak.
Read the full article here.
After three years of deep losses, the B.C. lumber industry is bouncing back with a bang, and mills that survived the deepest recession in memory are making money from two-by-fours for the first time since 2007.
Lumber prices are spiking sharply upward in the U.S. as sawmill curtailments, largely from producers in this province, are finally tightening the supply of lumber heading into the still-fragile U.S. housing market.
"There`s been a dramatic turnaround but it`s taken more than two years," said John Allan, president of the B.C. Council of Forest Industries.
The mill curtailments have finally "bitten," Allan said, tightening the lumber pipeline to the United States.
Companies remain cautious. There is an overhang of foreclosed homes in the U.S. to come on the market and new-home construction remains weak.
Read the full article here.