Record high lumber prices in the US, stable income for residual chips, and slightly lower costs for sawlogs moved 2Q/20 gross margins for US sawmills to some of the highest levels seen since 2005. Lumber companies in the US Northwest have seen a dramatic shift in their financial health from late 2018 when most sawmills in the region ran at below cash-costs, to the 2Q/20 when gross margins were at their highest levels in at least 15 years. Over in Europe, Swedish lumber companies saw slight improvements in profitability ...
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