LUMBER The market firmed up to mill asking levels a week or so ago, which…
Has been a quiet week, as most Canadian yards are taking delivery of wood bought within the last couple of weeks, with one of the majors dumping in Canada. The local Alberta mills did not participate at those levels and have been 200 + higher. Some sales being done in the mid 1250’s on 2×4 / 1075 2×6, for yards looking for a better stick and prompt shipment. May seems to be covered at both retail yards and mills. Mills are taking small counters based on what they have for prompt shipment and easy shipping lanes. The rail shipments are still slow throughout the industry.
Studs are still a tight item as some mill production issues, order files end of May and mid-June. Yards are keeping tight inventories as they didn’t want to get too far ahead of the market, because of the huge correction we saw last year. US interest rates up, so that has yards on the sidelines this week as well.
Mills have plywood for quick shipment, and contracts are backing up. So, distribution pricing is being pushed down. There are some deals on plywood out there, as osb seems to have firmed up.
Mills are sold through May and trying to push up the market. Mid-week print was up 20/m US, so expect panel report to be up a little Friday. Not much take away on the Canadian side due to some mills dumping in Canada couple weeks back, and most yards took advantage of those levels. So, same keep an eye on the market, 3/8” trading around 980-1000.
All in all, I don’t see much change for the balance of May.