Category: Daily News

Home » Timber News » Daily News
Canada to challenge US lumber duties
Post

Canada to challenge US lumber duties

Canada’s government said it will challenge US duties on softwood lumber, saying the tariffs have caused “unjustified harm” to the industry and workers. “Canada is disappointed that the United States continues to impose unwarranted and unfair duties,” International Trade Minister Mary Ng said in a statement Thursday. “While the duty rates will decrease from the...

Germans are stocking wood in the middle of the summer as gas supplies remain tight
Post

Germans are stocking wood in the middle of the summer as gas supplies remain tight

The recent frequency of the German word Versorgungssicherheit (supply security) shows that Germans are worried about insufficient stocks. During the epidemic, Germans were worried about toilet paper supplies, recently they’ve switched to energy, and now even wood. There are signs that Germans are hoarding wood in the mid-summer of nearly 40 degrees Celsius. German households...

Drax increases stake in B.C. wood-pellet industry to 78%
Post

Drax increases stake in B.C. wood-pellet industry to 78%

The United-Kingdom-based power producer Drax Group Plc is increasing its hold on British Columbia’s wood-pellet industry with an agreement to buy its eighth production plant in the province. The company said this week it will buy Princeton Standard Pellet Corp., and provided that goes ahead, will add 90,000 tonnes-a-year of capacity to its existing production...

Latvijas Finieris plans to invest €67 million in birch plywood capacity expansion
Post

Latvijas Finieris plans to invest €67 million in birch plywood capacity expansion

The management of “Latvijas Finiera” has made a decision to start an ambitious expansion project of RSEZ SIA “Verems”, which is part of the concern, in Rēzekne district, the company informs. As part of this, the factory’s current birch plywood production capacity will be doubled, high value-added products will be developed and jobs will be...

U.S. cuts softwood tariffs in half for Canadian lumber as trade dispute continues
Post

U.S. cuts softwood tariffs in half for Canadian lumber as trade dispute continues

The US Commerce Department is cutting tariffs against most Canadian softwood lumber producers by half, but the long-running trade dispute rages on as Canada plans to appeal a decision to maintain punitive tariff rates. After an administrative review, the US Commerce Department said Thursday that it will reduce the tariff rate for most Canadian lumber...

North American softwood lumber prices fall to a new low this year
Post

North American softwood lumber prices fall to a new low this year

Softwood umber prices continued their downtrend on Wednesday, falling 5% to a new 2022 low of $495 per thousand board feet. The sell-off came as homebuilders adjust to the new reality of a housing market that is “going back to normal.” North American softwood lumber prices continued their descent on Wednesday, falling as much as...

Germany: Wood pellet prices more than double over a year ago
Post

Germany: Wood pellet prices more than double over a year ago

Germany’s current demand for wood pellets is higher than ever. This applies to pellet heating systems as well as pellet stoves. The average price for wood pellets in Germany in July 2022 was €507.83/t. This is 17.7% more than in the previous month and 125.5% more than in July 2021. There are the following regional differences in the...

Unprecedented period of change in European wooden furniture sector
Post

Unprecedented period of change in European wooden furniture sector

The last two and half years, marked from the start of 2020 by the Covid-19 pandemic and from February this year by war in Ukraine, have seen unprecedented changes in Europe’s wood furniture sector. The sector has passed through a period characterized by an initial but very short lived fall in demand in the second...

European lumber exports might decline by a half due to the war in Ukraine
Post

European lumber exports might decline by a half due to the war in Ukraine

One immediate impact of the war in Ukraine is a tighter market for softwood lumber in Europe. About 20% of European lumber import and 9% of European supply is lumber from Russia, Belarus, and Ukraine (“BRU”) – in total, almost 9 million m3 in 2021. The largest importers include the UK, Italy, and Netherlands, but...