The rate of price escalation in SPF lumber slowed from the prior week as the immediate impact from British Columbia fires lessened.
SPF prices were already grinding higher when wildfires in British Columbia touched off a surge in buying.
Monday’s announcement of an affirmative antidumping duty determination had little influence on the SPF market.
Prices in the SPF lumber market remained solid and moved higher in several instances. “It seems sneaky strong” was one eastern producer’s market assessment.
After finding firmer footing the week prior, SPF mills in both eastern and western Canada entered this week seeking moderately higher prices.
Buyers began to step into the SPF market in greater numbers Wednesday morning, and OSB markets firmed last week.
After looking for something that might trigger SPF lumber buyers to enter the market in greater numbers, significant gains in lumber futures brought traders in to cover shorts.
The SPF lumber market began the week with modest sales activity after improved demand helped firm up prices the week prior.
Midweek sales activity picked up markedly in the SPF lumber market, and OSB markets were pretty much the same as last week, with slow activity and prices slipping.
After the prior week’s uptick in buying, the SPF market slipped back into a sluggish pace.
After a sluggish beginning of the week, an increasing number of SPF buyers stepped into the market late Tuesday to purchase measured volumes.
SPF mill quotes raised to counter costs associated with newly implemented duties on Canadian lumber entering the US kept buyers from participating.
Volumes of SPF lumber traded were very light, and OSB markets took a breather this week and slipped into a digestive mode.
What SPF producers had left to sell for shipment in the month of April sold readily.
The upcoming April 24 announcement regarding what CVD duties might be put in place dramatically affected the SPF lumber market.
The SPF market sustained good follow-through. Buyers continued to replenish inventories while wholesalers took positions, sold them and then purchased more.
SPF lumber producers began to field more inquiries Tuesday. By Wednesday, sales reached a peak.
Trading in the SPF lumber market was sluggish overall, leading to a more aggressive approach on the part of some producers early in the week.
The SPF lumber market grew weaker as sales activity remained modest.
The SPF market exhibited some spotty weakness while other producers clung to price levels underpinned by order files extending into mid-March.
SPF sales slowed considerably from the frenetic pace experienced over the two prior weeks.
Things got “a little crazy,” according to several SPF lumber traders.
Thin order files and a subsequent need to sell prompt volumes forced SPF producers to discount to begin the week.
SPF lumber buyers continued to shy away from purchasing while prices again exhibited weakness.
Trading the SPF lumber market was uneventful, leading to some cracks in pricing by the week’s end.