The Conference Board of Canada says Canada’s lumber industry has been able to survive the impacts of preliminary U.S. duties.
It’s because of soaring lumber prices.
The Conference Board says they are their highest levels in over a decade, partly due to supply constraints in B.C. from this past summer’s wildfires and increased demands in the US with a growing housing industry and the rebuilding of storm-ravaged areas.
Canadian lumber producers will pay an estimated $500 million in U.S. duties this year, but the Conference Board pegs their profits to reach $2.6 billion.
