SEATTLE (Scrap Monster): The North American softwood lumber prices recorded signs of usual annual seasonal drop towards the end of October this year. The customer purchases remained muted, thus resulting in further weakening of inventories. The sawmills too reported reduced production volumes, in line with traditional weakening demand during the winter season.
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The price of Western SPF 2x4s started the year at $370 mfbm, touched a high of US$476 mfbm in February and continued to remain at $458 mfbm for most of July. The current price is very close to the prices at the beginning of 2023. During the week ending October 20, 2023, the price of benchmark Western SPF 2×4 #2&Btr KD (RL) recorded dip by 2% from the prior week to hit US$374 mfbm. The prices were down by almost 9% from the previous month. Upon comparison with the corresponding week a year before, the prices were down by almost 16%.
According to suppliers in western Canada, the demand for Western SPF lumber posted modest decline. The cooler weather dampened the overall demand
The Madison’s Lumber Prices Index for the week ending Oct. 20 was $402 mfbm, down marginally by 2% from $411 mfbm during the previous week.
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