More sawmill closures expected in British Columbia in 2023

A series of federal and provincial government policies that are deliberately squelching growth in certain sectors, such as metallurgical coal and lumber – B.C.’s two most valuable exports – will mean lost opportunities for Canadian companies, analysts say. Alberta oil and gas producers made windfall profits on high oil and natural gas prices and B.C. forestry majors banked some record profits on high lumber prices in 2022. While it has predicted a price correction in the earlier part of 2023, Goldman Sachs is still bullish for commodities in general in 2023. Wood Mackenzie, meanwhile, is predicting a ...