03:44:35 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



West Fraser Timber Co Ltd
Symbol WFT
Shares Issued 75,886,806
Close 2017-09-20 C$ 71.15
Market Cap C$ 5,399,346,247
Recent Sedar Documents

Globe/wire say Canfor, rival outperforming U.S. peers

2017-09-21 06:29 ET - In the News

See In the News (C-CFP) Canfor Corp

The Globe and Mail reports in its Thursday edition that even though President Donald Trump claims to put "America First," his actions, however, are having the opposite effect in the U.S. lumber industry. A Bloomberg dispatch to The Globe reports that this year the U.S. slapped duties of as much as 32 per cent on imports of timber from Canada. Prices surged, increasing costs for American buyers -- and boosting profit for Canadian producers. Canfor and West Fraser Timber are outperforming their American peers with share gains of more than 40 per cent this year, placing them among the top performers on the Bloomberg Intelligence global paper and wood products index. By contrast, shares of U.S. rival Weyerhaeuser are up about 10 per cent. Lumber futures jumped 16 per cent in 2017 as U.S. trade limits and Western wildfires spark concerns over limited supplies, just as communities in Texas and Florida begin to rebuild after devastating hurricanes in the past month. That means more gains ahead for Canfor and West Fraser, which have more exposure to softwood-lumber prices than their American peers. Pictet Asset Management manager Christoph Butz says, "There is no way lumber prices can nosedive."

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