Canfor Corp. Predicts Steady Lumber Prices Through Rest of 2017

By Paul Ploumis
Scrap Monster
October 23, 2017
Category: Business & Politics
Region: Canada, United States

Lumber major Canfor Corp. has announced results for the third quarter of 2017. The company reported shareholder net income of $66.2 million or $0.51 per share during the quarter, slightly lower when matched with the net income of $81.3 million or $0.61 per share during the quarter prior to that. The operating income declined from $131.0 million in second quarter to $105.4 million during the third quarter of 2017. …Looking ahead, Canfor expects the North American lumber prices to remain steady. It forecasts the demand to remain solid through Q4 this year, with seasonally slower activity during December. The demand from key offshore markets is anticipated to remain solid through Q4 2017 and into 2018, the company noted.

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