The US-Canadian Softwood Lumber Agreement hit another milestone as the Department of Commerce levied two (2) duties (CVD & Anti-Dumping) against Canadian mills. The CVD will ended up averaging 20% but due to “critical circumstances” these duties will also be retroactive to the end of Jan. 2017 (this was expected by the market). It was the anticipation of this ruling that saw the dramatic market fluctuation (on some line items) as Canadian pricing increased 60 days ago.
The preliminary ruling on the Anti-Dumping Duty is estimated to be an additional 10% going back to January 2017 for those mills deemed to have dealt in such practice.
Here at home we continue to see prices of Western Red Cedar elevated when compared to Douglas Fir. OSB prices have been on the rise. Studs and SPF have also seen continued upward pricing pressure, but those have leveled out over the last month or so. Builders are urged to look closely at these components of their framing packages to see the overall impact on lumber budgets.