Canada Denounced U.S. Decision to Hike Softwood Lumber Duty
The levy imposed now is marginally lower than initially proposed rate of 18.32%, which has now been reduced following further analysis.
SEATTLE (Scrap Monster): Officials from various provincial governments as well as representatives of Canadian lumber industry expressed disappointment over the U.S. decision to hike duty on softwood lumber imported from Canada.
The U.S. Department of Commerce had recently announced its decision to raise the average final combined anti-dumping and countervailing duty on softwood lumber for most Canadian producers to 17.9%, which is almost double the previous rate of 8.99%. The final rate for Canfor Corp. stands at 19.54%, whereas that of West Fraser Timber Co. and Resolute Forest Products Inc. is 11.2% and 29.66% respectively. Meantime, JD Irving has a rate of 15%.
RELATED NEWS:
COFI Foresees Earliest Settlement to Softwood Lumber Dispute
New Brunswick Declares Fresh Moves to Fight Softwood Lumber Tariffs
The levy imposed now is marginally lower than initially proposed rate of 18.32%, which has now been reduced following further analysis.
Canadian International Trade Minister Mary Ng stated that Canada is extremely disappointed by the U.S. decision to impose unwarranted duties that are likely to harm Canadian communities, businesses and workers, in addition to leading to higher costs of housing and renovations for U.S. consumers.
Meantime, the B.C. Lumber Trade Council said that final rates are disappointing and that it will continue to vigorously defend the Canadian lumber industry against meritless allegations by the U.S administration.
- New Exhibit at Chicago’s Museum of Science and Industry Examines the Impact of Ocean Plastic Pollution
- Chicago Denies Permit for Scrap Metal Yard at Heart of 'Environmental Injustice' Battle
- International Paper Announced First Quarter 2024 Results
- 26th April, 2024: Scrap Gold Prices Dropped, Platinum and Silver Surged on Index
Scrap Metal Prices
Copper Scrap | ||
Alternator | 0.32 | $US/Lb |
#1 Copper Bare Bright | 3.75 | $US/Lb |
Aluminum Scrap | ||
356 Aluminum Wheels (Clean) | 0.73 | $US/Lb |
6061 Extrusions | 0.64 | $US/Lb |
Steel Scrap | ||
#1 Bundle | 460.00 | $US/MT |
#1 Busheling | 480.00 | $US/MT |
Electronics Scrap |