20:24:21 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Canfor Corp
Symbol CFP
Shares Issued 134,154,663
Close 2015-05-21 C$ 25.84
Market Cap C$ 3,466,556,492
Recent Sedar Documents

Globe/DJ say Canfor, rivals are making gains

2015-05-22 09:01 ET - In the News

Also In the News (C-IFP) Interfor Corp
Also In the News (C-TMB) Tembec Inc (2)
Also In the News (C-WEF) Western Forest Products Inc
Also In the News (C-WFT) West Fraser Timber Co Ltd

The Globe and Mail reports in its Friday edition that lumber prices are on the upswing. A Dow Jones dispatch to The Globe reports that an American government study on Tuesday showed new-home construction in the United States jumped 20.2 per cent in April, to the highest level since November, 2007. The report is the first good news for housing, which accounts for about 40 per cent of U.S. lumber demand, following several months of lukewarm data. The housing surge, the biggest monthly gain in percentage terms since February, 1991, is likely to extend a recent rise in lumber prices, unnamed analysts say. Lumber futures hit a three-year low last week, but since then they have rebounded 11 per cent to trade Thursday at $270 (U.S.) per 1,000 board feet. The turnaround started as traders who had sold futures, betting on a price decline, bought contracts to lock in their gains. The rally accelerated after this week's construction data. Now some investors are betting that prices will rise further if the U.S. housing industry gets back into swing and if China, which accounts for about 20 per cent of U.S. lumber exports, sees demand pick up as authorities move to spur economic growth.

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