Softwood lumber prices in North America stabilize to new normal levels

The North American softwood lumber markets have shown signs of stabilizing after experiencing extreme volatility in 2021 and 2022. Recent price increases have been observed for Western spruce-pine-fir (SPF) lumber, reaching US$446 per thousand board feet. This development is expected to benefit sawmills in British Columbia (B.C.), which have faced challenges such as high operating costs and a diminishing supply of affordable timber, leading to temporary curtailments or permanent closures. The mills that have slowed down or undergone curtailments are expected to gradually resume operations, resulting in fewer instances of curtailments compared to the past ...