18:05:27 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 75,886,806
Close 2017-09-14 C$ 67.76
Market Cap C$ 5,142,089,975
Recent Sedar Documents

Globe says Canfor, rivals hear softwood pressure mounts

2017-09-15 07:20 ET - In the News

See In the News (C-CFP) Canfor Corp

The Globe and Mail reports in its Friday, Sept. 15, edition that the U.S. government is facing increasing pressure to reach a deal with Canada on softwood lumber, as demand for construction materials is expected to spike higher in Texas and Florida in the wake of hurricanes Harvey and Irma. The Globe's Adrian Morrow and Shawn McCarthy write that while the U.S. lumber industry is dug in on its demand for tariffs, its customers argue that domestic supplies cannot meet their needs, which will drive up the cost of reconstruction in the states that sustained many billions of dollars in storm damage in recent weeks. The Canadian government is hoping the added domestic pressure resulting from the hurricanes will help pave the way for a deal, Natural Resources Minister Jim Carr said on Thursday. He said: "We know that [the looming reconstruction] has an influence on markets and on demand. And we also know that Canadian producers offer a very good supply of softwood lumber in the United States." However, during a visit to Washington on Thursday, Ontario Premier Kathleen Wynne, after meeting with U.S. Commerce Secretary Wilbur Ross, said that a resolution to the softwood standoff currently looks unlikely.

© 2024 Canjex Publishing Ltd. All rights reserved.