Lumber prices rally following production curtailments
This week, lumber futures posted their biggest weekly gain since 1995, according to BNN Bloomberg.
The change comes after Canfor announced several significant curtailments to all but one of its B.C. sawmills and the closing of its Vavenby, B.C., mill, and other companies including Norbord Inc., Western Forest Products and West Fraser announced production curtailments.
Lumber prices jumped by as much as U.S. $19, or 5.4 per cent, to U.S. $378.80 per 1,000 board feet Thursday on the Chicago Mercantile Exchange, BNN Bloomberg reports.
To read the full article, click here.