TORONTO — Softwood lumber prices climbed aggressively last week as homebuilding activity made record gains in Canada and the U.S. The price of shares in West Fraser Timber Co., Interfor, Canfor, CanWel Building Materials Group and Norbord Inc. all logged 52-week highs on the Toronto Stock Exchange. “Another spate of double-digit softwood lumber price jumps underscored the ongoing insanity of lumber demand,” the Madison’s Lumber Reporter blog trumpeted.
RBC Capital Markets analyst Paul Quinn told CBC News that while the price gain was in part a response to temporary inventory conditions, nevertheless “we expect that record repair and remodel demand, rebounding new residential construction activity and COVID-19-related supply challenges will be enough to keep wood product prices at still historically strong prices through the next few months.”
