Kevin Mason
In mid-April, the Harvard Joint Centre for Housing Studies (JCHS) released its Leading Indicator of Remodeling Activity update, forecasting R&R growth ~+1.6% per quarter between now and Q1/26. This projected growth comes after a modest pullback in R&R spending in 2024 and will be welcomed by North American solid-wood producers given expected declines in demand from new residential construction in the coming quarters. …Recent pricing trends persisted in North American lumber markets over the past month, with S-P-F prices continuing lower while SYP prices moved higher. …A modest seasonal uptick in demand from treaters appears to be one of the catalysts creating SYP price improvement, while the pause on tariffs—the threat of which had previously boosted S-P-F prices—has now precipitated a drop in S-P-F lumber pricing.
As we’ve highlighted exhaustively over the past several months, duties on Canadian lumber exports to the US are scheduled to more than double later this year, and there is still potential for incremental lumber tariffs following a Section 232 investigation (there is the potential for tariffs to extend to panels, etc., but even producers don’t have any clarity). Barring an unlikely spike in lumber demand, many Canadian sawmills are likely to discover that the economics of selling lumber into the US no longer work (unless prices move substantially higher—but that will be driven by closures in Canada). …For Canadian producers, do alternative markets exist, or could a surge in Canadian homebuilding replace some of the lost volumes to the US? In short, there are no easily accessible markets that come close to the size of the US and that can be supplied by Canadian mills.
Now that the Liberals have secured another term in office, the big question is whether they can deliver on their ambitious promises, particularly a $26 billion push into prefabricated homes through a new agency called Build Canada Homes (BCH). The plan includes $25 billion in debt financing and $1 billion in equity for Canada’s prefab and modular homebuilders. The goal is to cut construction times by as much as 50%, reduce costs by 20%, and lower emissions by 22% compared to traditional building, while using Canadian technologies like mass timber and softwood lumber. BCH also plans to issue bulk orders to manufacturers, aiming to create steady demand and boost apprenticeships to strengthen the skilled trades workforce. …A problem, Kevin Lee, CEO of the 
MONTRÉAL, RICHMOND, BC, and 
A meeting between the leaders of Canada and the US is not usually considered a high-stakes showdown, but here was newly elected Prime Minister Mark Carney making his first visit to the Oval Office to see President Donald Trump, who has spent months musing about turning America’s northern neighbor into the 51st state. …The interaction offered a glimpse into how Trump has transformed Oval Office meetings from brief and bland encounters into precarious affairs. …His approach can be thrilling for supporters and destabilizing for diplomats accustomed to a more deliberative approach to international relations. … It appears that Carney struck the right balance, at least in Trump’s mind. An invitation to the Oval Office has long been the height of international prestige. …Now, they’re raucous episodes in a foreign policy reality show, starring Trump. While the president can be a gracious host, he openly complains about visitors’ countries.
The rapid response of firefighters and workers at Pioneer Log Homes east of Williams Lake to prevent a log pile fire from spreading to other piles in the yard is being credited for saving the construction site from being destroyed. The fire on the west side of the building site at 1527 Old Cariboo Highway 97 (Mile 153) was reported to the 150 Mile House Volunteer Fire Department just after noon Monday and after a mutual aid request fire crews from City of Williams Lake and volunteer departments in Miocene and Wildwood were also dispatched to the scene. They spent nearly half a day dousing the burning logs until the fire was fully extinguished at about 11:30 p.m. Monday. No estimate has been determined on the cost of the logs lost in the fire, which was confined to one large pile covering an area estimated at one hectare.
A high-stakes meeting between Prime Minister Mark Carney and United States President Donald Trump on Tuesday is being closely watched by politicians in Victoria. Ravi Kahlon, minister of housing and municipal affairs, said the province is being pragmatic… “We’re not expecting an agreement, and we’re also realistic that any agreement made with President Trump can be changed with a tweet the next day,” Kahlon said Tuesday. …Kahlon says the key for B.C. is to rely on its resources and to increase diversified trade with other countries. …Adding that breaking down interprovincial trade barriers will also help. …Meanwhile, B.C.’s forestry minister, Ravi Parmar, says Carney needs to prioritize B.C’s softwood lumber industry during his talk with Trump. …Western Canadian director for the United Steelworkers, Scott Lunny, tells 1130 NewsRadio that if the goal for the Trump administration is to rewrite the free trade agreement, we should “quit the nonsense and get on with that.”
The Ford government is planning to impose new rules on how local governments greenlight development projects, pushing the changes on municipalities as the province struggles to meet its self-imposed goal of building 1.5 million homes by 2031. The government is relying on a series of changes to Ontario’s planning rules, like reducing studies developers have to undertake and standardizing development charges, in a bid to speed up homebuilding. Minister of Municipal Affairs and Housing Rob Flack is set to table the legislation next week, with changes including reducing requirements for builders to conduct some municipally-focused studies, allowing builders to bypass some city committees and a raft of changes to the fees developers pay to local governments. …The legislation would give the Ford government the ability to pare down the list of requirements for a development application, establish which studies would be required and force municipalities to accept certified studies presented by the developer.
As the next step in its plan to protect Ontario workers in the face of tariffs and economic uncertainty, the provincial government is expanding its Skills Development Fund (SDF) by nearly $1 billion over the next three years, for a total of $2.5 billion. This funding will help train and reskill Ontario workers, including those directly impacted by layoffs resulting from tariffs and ensure they have the necessary support to find good-paying jobs and help strengthen Ontario’s economy. “We’re already seeing the impact of President Trump’s tariffs and the economic uncertainty he has created on Ontario workers,” said Premier Doug Ford. “Today’s announcement of a further $1 billion in SDF funding is just the latest step in our plan to protect Ontario by investing in workers and making sure they have the support they need to succeed, no matter what comes our way.”
Interfor recorded a Net loss in Q1’25 of $35.1 million compared to a Net loss of $49.9 million and a Net loss of $72.9 million. Adjusted EBITDA was $48.6 million on sales of $735.5 million in Q1’25. …Notable items include: Lumber prices increased during Q1’25 as reflected in Interfor’s average selling price of $712 per mfbm, up $53 per mfbm versus Q4’24; lumber shipments totalled 863 million board feet, representing a 77 million board foot decrease over the prior quarter. The decrease primarily relates to the sale of the Quebec operations, weather-related curtailments and shipment delays resulting from tariff uncertainty. …The Company is well positioned with a diversified product mix…only about 24% of the Company’s total lumber production is exported from Canada to the US and exposed to a potential tariff. …Interfor expects that over the mid-term, lumber markets will continue to benefit from favourable underlying supply and demand fundamentals.
VANCOUVER — Canfor Corporation reported its Q1, 2025 results. The Company reported an operating loss of $28.5 million for the first quarter of 2025, compared to an operating loss of $45.9 million in the fourth quarter of 2024. …These results largely reflected improved lumber segment results and, to a lesser extent, the pulp and paper segment. Canfor’s CEO, Susan Yurkovich said, “While improved lumber benchmark prices provided some relief, rising global economic and trade uncertainty, and US lumber duties, create a challenging backdrop. Through our diversified operating platform in Canada, the US South and Europe, we are positioned to mitigate these challenges, while remaining focused on what we can control. …“For our pulp business” Yurkovich added, “this was another solid quarter with improved results and a strong operational performance. However, global economic uncertainty is also putting pressure on global softwood pulp markets in the near term.”
Fresh trade data shows deepening US reliance on Canadian goods, even as the president claims the opposite. …According to the US Census Bureau and Bureau of Economic Analysis, the US goods trade deficit with Canada widened to $4.9 billion in March, up sharply from prior months. The surge was driven by higher imports of Canadian-made cars, crude oil, and finished wood products — the exact categories Trump dismissed. Automotive imports rose by $2.6 billion, including a $2.1 billion spike in passenger vehicles, many of which are assembled in Canada. Oil and lumber purchases also increased, contributing to a 14% month-over-month jump in the broader US trade deficit, which hit a new monthly high of $140.5 billion in March. …The US typically runs a services surplus with Canada, and American firms rely heavily on Canadian supply chains in autos, energy, and materials, as the fresh BEA data suggests.
VANCOUVER – Western Forest Products reported improved financial results in the first quarter of 2025, as compared to the same period last year. Net income was $13.8 million in the first quarter of 2025, as compared to a net loss of $8.0 million in the first quarter of 2024, and a net loss of $1.2 million in the fourth quarter of 2024. …lumber production of 134 million board feet (versus 145 million board feet in Q1 2024); average lumber selling price of $1,533 per mfbm. …North American markets are expected to be volatile due to concerns around the economic impact caused by potential further US tariffs and retaliatory tariffs. The spring building season which typically leads to gains in softwood lumber demand could be more muted. …In Japan, the spring housing demand is stronger than expected and channel inventories have declined. …Demand for our Industrial lumber products in North America are expected to strengthen as supply remains tight across all species.
MONTREAL — Stella-Jones announced financial results for its first quarter ended March 31, 2025. Highlights include: Sales of $773 million, relatively unchanged from Q1 2024; Operating income of $143 million, including insurance settlement of $38 million; EBITDA of $179 million, or 23.2% margin; Acquisition post-quarter of a steel transmission structure manufacturer, aligned with strategy to support North American infrastructure. …Eric Vachon, President and Chief Executive Officer of Stella-Jones said “Though macroeconomic headwinds continue to impact volume growth, at this stage we remain confident in our ability to achieve our financial objectives. …“The Company entered into a definitive agreement to acquire Locwel., a leading manufacturer of lattice towers and steel poles for electrical transmission. This transaction marks a step forward in Stella-Jones’ long-term vision, allowing us to enhance our infrastructure offering and establish a presence in the growing steel transmission structure industry.”
This multi-day Conference, Finding Opportunity in Complexity, will explore the interconnected dimensions of climate change, forest fire management, biodiversity conservation, Indigenous forest stewardship, socio-economic considerations, and the evolving forest industry. From October 5-8, 2025, you can experience beautiful Binesii-wiikwedong (Thunder Bay), on the shore of Anishinaabewi-gichigami (Lake Superior) and the surrounding area. The boreal forests of the “Lakehead”, the traditional territory of Fort William First Nation, have provided a cultural and spiritual foundation for Indigenous Peoples for generations, along with a diverse suite of ecosystem services. Over time the area’s forests have also become a source of economic prosperity, making the region a hub of forest management, scientific inquiry, and policy development. Join us as we transform the challenges of complexity into opportunities by considering the history of forest management, celebrating the contributions and diverse perspectives of our peers, and looking toward resilient and healthy future forests.
Forests are fundamental to Canadians. As “hewers of wood and drawers of water,” forests are as much a part of Canadian DNA as hockey sticks and maple syrup. …Canada harvests a relatively small portion – less than 0.5% – of its forests annually, adhering to sustainable practices. Every hectare harvested is carefully managed to ensure full regeneration, maintaining ecosystems and biodiversity while continuing to support the communities and livelihoods that depend on them. Harvesting takes years of meticulous planning. In fact, before a single tree is cut, forestry companies study and analyze the forest ecosystems before developing and presenting the government and the public with 100 to 200-year plans, repeating the process every ten years with improved information. [The Hill Times requires a subscription for full access to this story]
THUNDER BAY — The health of Canada’s forests is an issue if the county is to meet its climate targets, according to a recent study. Co-authored by Julee Boan, partnership director for the Global Nature International Program at the Natural Resources Defense Council, with Rachel Plotkin, the boreal project manager at the David Suzuki Foundation, 
British Columbia’s worker protection agency says a planned burn by the province’s wildfire service during the devastating 2023 fire season could have killed or injured multiple firefighters who became “trapped by extreme fire behaviour” that cut off their escape. Inspection reports by WorkSafeBC say the BC Wildfire Service didn’t adequately ensure safety during the burn in the Shuswap region on Aug. 17 that year, and a group of trapped Brazilian firefighters had to retreat to a “safe zone.” WorkSafeBC says they had to burn off fuel around their truck and spend the night because of low visibility, smoke, fire activity and falling trees. They were picked up the next day by another crew that “cut their way into the site.” …The employer did not provide adequate information, instruction, training or supervision for the crews involved, the report says, and the incident “could have resulted in multiple serious injuries or fatalities of workers.”
