As US homebuilding continues at a steady pace, US lumber producers have risen to meet the immense demand from the construction industry. But a gap in supply that was exposed during the peak of the pandemic’s first wave may become a longer-term issue that could keep upward pressure on lumber prices. Canadian lumber shipments to the US—which make up a significant chunk of US supply—were down by nearly 20% in April 2020, and production levels are unlikely to return due to a combination of factors: Many Canadian forests have undergone significant changes ...
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