West Fraser Announced Revised Outlook for 2022

SEATTLE (Scrap Monster): West Fraser Timber Co. Ltd. announced positive market outlook for the current year. The trends that served as positive drivers during recent years will continue to support medium and longer-term demand for North American house construction market.

The company expects increased spending on repair and renovation spending in the medium-term, thus supporting lumber, plywood and OSB demand. The growing market penetration of mass timber in industrial and commercial applications will emerge as a significant demand growth driver for wood building products in North America over the longer term, the press release noted.

West Fraser expects the demand for its European products to remain robust over the longer-term, on increased use of OSB as an alternative to plywood. Despite near-term challenges causing a temporary demand slowdown for its products in European region, it expressed confidence and optimism to navigate through these periods and achieve long-term growth ahead.

The company expects OSB shipments to increase in 2022. However, the Pulp & Paper segment shipments are likely to remain flat during the year.

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