West Fraser sees recovering OSB demand in US

Wood products giant West Fraser says its OSB business saw recovering demand during Q2, giving it sufficient confidence to increase its North American OSB shipments guidance for 2023. The company expects near-term demand weakness in its European EWP segment but reiterates 2023 OSB shipments guidance of moderately above 2022 levels. Group Q2 adjusted EBITDA was US$80m (2022 Q2: US$58m). The North American EWP segment recorded adjusted EBITDA of US$126m and the European EWP business recorded US$19m. West Fraser says the seasonally adjusted annualized rate of US housing starts was 1.43 ...