In the first two quarters of 2023, the price trend of softwood lumber exhibited fluctuations. Initially, during the early first quarter, the industry faced sluggishness, particularly in Canada, due to reduced construction activities. Although February saw a brief uptick driven by downstream industry demand, this improvement was short-lived. Concurrently, traders reduced stocking due to weak buyer purchasing power.
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However, in April, the market gained momentum as weather conditions improved, bolstering construction sectors in the US and Canada, with support from rising costs of food, energy, and trade services. Yet, later in the second quarter, prices sharply declined, influenced by low fuel and energy costs, and despite OPEC+ production cuts, market sentiment remained negative.
Definition
Softwood lumber refers to wood obtained from coniferous trees, such as pine, spruce, fir, and cedar. It is widely used in construction and woodworking due to its availability and cost-effectiveness. Softwood lumber is known for its straight grain and relatively lighter weight compared to hardwoods. Its properties include ease of machining, cutting, and shaping, making it ideal for structural applications in residential and commercial buildings. However, softwood lumber is less dense than hardwoods and may require treatment to enhance its resistance to decay and insects when used outdoors.
Key Details About the Softwood Lumber Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Softwood Lumber in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Softwood Lumber Price chart, including India Softwood Lumber price, USA Softwood Lumber price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Softwood Lumber Price Trend:
Softwood lumber serves as a crucial resource across various industrial sectors. In construction, it is employed for framing, structural elements, roofing, wall panels, and flooring due to its cost-effectiveness and strength. Furniture manufacturing relies on softwood lumber for crafting tables, chairs, and cabinets, while millwork uses it for molding and trim. Interior doors are also often made from softwood lumber. In the packaging industry, it is used to construct pallets and crates for shipping. Softwood lumber is favored in the production of wood pulp for paper and cardboard due to its long fibers. Additionally, it plays a role in boat building, outdoor structures like decks and fences, and as a substrate for engineered wood flooring. Its versatility makes it invaluable in industrial applications.
Key Players:
- Canfor Corporation
- West Fraser Timber Co Ltd
- Rayonier Advanced Materials
- Western Forest Products Inc
- EACOM Timber Corporation
- McRae Lumber Company
News and recent development:
Softwood lumber prices post a strong gain in April. The U.S. lumber market changes for the better in April as prices for softwood and plywood begin to stabilize and rebound. The price of plywood, which had previously experienced a sharp reduction, showed tenacity in 2023 by only declining by a negligible 0.2% between March and April. This little decline can be a sign that the price has found its bottom. (Dated: 11 May 2023)
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