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U.S. Demand for Canadian Softwood Lumber Expected to Remain High

(Canadian Press)

Softwood lumber duties aren’t dampening the spirits of Canadian lumber producers as strong demand from rising U.S. housing starts and tight supply are expected to keep prices high throughout 2018.

The number of U.S. housing starts beat expectations by surpassing 1.33 million in January on a seasonally adjusted basis, with single family starts increasing 7.6 per cent. Housing permits approached 1.4 million.

Conifex Timber Inc. chairman and CEO Kenneth Shields said last week he also expects repair and remodelling markets will remain robust.

“With this favourable demand backdrop coupled with duties on Canadian lumber exports to the U.S., we expect lumber prices to remain strong in 2018,” he said during a conference call about its 2017 results. Click here to read more.