Increased demand for softwood lumber in the US and Asia will change the global trade flows of wood in the coming decade prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Saturday, 17 July 2021, 4:40 pm
Softwood lumber has been in high demand in the US and
Europe throughout 2021. The limited supply resulted in
temporary price surges to record high levels during the
spring, followed by substantial declines in early summer.
The outlook for lumber demand is likely to be strong
worldwide in the coming decade in most world regions,
including North America and Asia. Both these regions are
consistently dependent on imported wood.
Few countries
in the world can significantly expand lumber exports, and
Europe will play an increasingly important role as a wood
supplier in the future. Tighter lumber markets will impact
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Resolute Forest Products Inc. chief financial officer Remi Lalonde recalls tense times for the company last spring, when the outlook seemed bleak for lumber demand.
“I think that when you look at 2020 and the pandemic-induced challenges that we had, there were some pretty scary moments, especially in March, April and May,” he said in an interview, days before he becomes Resolute’s new chief executive officer next week.