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Trump, Trade, and Tariffs

Trump, Trade, and Tariffs

A flurry of news releases last week from many sources have started to shed light on the economic effects of these ongoing, expanding, rounds of tariffs started by the USA between increasing numbers of countries. Trade Barriers and Confusion are Wreaking Havoc for Manufacturers GRAPH CREDIT: [AFP via Straits Times] Just Friday a new flurry of tariffs and counter-tariffs were launched, by the USA and by China. Retaliatory tariffs put in place against the US by Canada came into effect…

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US Manufacturing and Non-Manufacturing Index: June 2018

US Manufacturing and Non-Manufacturing Index: June 2018

The US ISM manufacturing index, released Monday by the Institute for Supply Management: June 2018 Manufacturing ISM® Report On Business®, indicated expansion in June. The PMI was at 60.2% in June, up from 58.7% in May. The employment index was at 56.0%, down from 56.3% last month, and the new orders index was at 63.5%, down from 63.7%. The Prices Index registered 76.8% in June, a 2.7 percentage point decrease from the May reading of 79.5%, indicating higher raw materials…

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Canada Recent Tariff Statistics

Canada Recent Tariff Statistics

Explained Statistics Canada Wednesday last week: On June 1, 2018, the United States implemented additional tariffs on selected Canadian steel and aluminum products exported to the United States. The additional tariff rates are 25% and 10% respectively. According to Statistics Canada’s international merchandise trade customs-based data, in 2017, the export value of aluminum products that are subject to the 10% rate was $9.2 billion; and the export value of steel products that are subject to the 25% rate was $7.2 billion. In response, on July 1, 2018, Canada imposed tariffs on…

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North America Lumber and Panel Prices Settle Back to Normal Territory

North America Lumber and Panel Prices Settle Back to Normal Territory

While still high compared to recent years, US and Canadian lumber prices this week started to approach what could be considered normal territory . Inventories in the field remain lean, however sawmills have managed to get wood ordered in 2Q out to their customers and are now able to assess the assets in their own yards. Current Softwood Lumber Prices Compared to Recent and Historical Highs Recent mayhem in the lumber market, especially with prices, is starting to abate. Manufacturers…

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Canada Sawmills: April 2018

Canada Sawmills: April 2018

Lumber production in Canada rose +0.5% from March to 5,925 thousand cubic metres of lumber in April, said Statistics Canada Wednesday. Production was +2.5% higher than in April 2017. Sawmills shipped 5,807 thousand cubic metres of lumber in April, up +7.7% from March but -1.4% lower than in April 2017.

British Columbia Coastal Log Prices: May 2018

British Columbia Coastal Log Prices: May 2018

Your weekly North American softwood lumber and panel price guide, Madison’s Lumber Reporter, is delighted to announce a brand-new data set to help keep the Canadian and US forest products industry informed and up-to-date on the latest data and market information. DON’T MISS OUT, ORDER TODAY! British Columbia Coastal Log Prices, Monthly: 2013 to May 2018 (sample issue: March 2018) The information tool for your forest management and investment planning decisions. Our *new* monthly log price report is tailored to…

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Topsy-Turvey Lumber Market as Prices Settle

Topsy-Turvey Lumber Market as Prices Settle

Prices of many North American softwood lumber and panel prices corrected sharply this week as customers picked through sawmill offer lists looking for construction framing wood products they could get for a lower price. Home sales and construction in the US continue much stronger than anyone had expected one year ago. The below table is a comparison of June 2017 and June 2018 prices for benchmark dimension softwood lumber 2×4 prices compared to historical highs of 2004/05: Current Softwood Lumber…

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US Real Estate Market: 1Q 2018

US Real Estate Market: 1Q 2018

For full-year 2017, US homeownership rose to 64.2%, according to the Harvard Joint Center‘s just-released State of the Nation’s Housing report for 2018. The uptick is the first in 12 years and a dramatic turnaround in the homeowner market. The percentage of Americans who own their homes peaked at more than 68% in 2005 before the housing market collapse that followed. The slide in homeownership stretched until 2016, when the rate was at a 50-year low of below 63%. The…

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US Housing Starts, Home Sales, House Prices, Inventory: May 2018

US Housing Starts, Home Sales, House Prices, Inventory: May 2018

Total housing starts in the US increased in May with gains in both the single-family and multifamily sectors. Starts increased +5% month-over-month to a 1.35 million seasonally adjusted annual rate, according to a joint data release June 19 from the US Census Bureau and HUD. This pace is a post-recession high. The rate of single-family starts, which accounts for the largest share of the housing market, was +3.9% higher in May, reaching a 936,000 annual rate. Recent growth trends for…

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It’s a Brand-New, Uncharted World for Softwood Lumber Prices

It’s a Brand-New, Uncharted World for Softwood Lumber Prices

A waffling North American softwood lumber market started to settle down last week, as the Madison’s price graphs showed in our previous issue. On May 2 this year, Madison’s took the bold step — and one we do not tread upon lightly — of declaring a new floor on prices of benchmark North American softwood lumber commodity WSPF KD 2×4 #2&Btr, of US$500 mfbm. We suggest this might be a new reality for the next approximately 18 months or so:…

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