GREY:FTPLF - Post by User
Post by
Nighthawk40on Jan 06, 2011 11:40pm
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Post# 17936859
Lumber prices rise despite...
Lumber prices rise despite...US housing slump.
Lumber traded Tuesday at $340 (U.S.) per 1,000 board feet - the highest price since May, 2006, when housing starts were triple their current pace - and closed Wednesday at $330.10.
Like dissolving pulp, growth in Chinese demand is behind the commodity's rally.
"A multi-year upturn in demand and prices is likely for logs, lumber and other wood products" as China increasingly turns to Canada and the US for imports."
You can read the full article in today's Globe and Mail, page B2
This is yet another confirmation that FTP venture into producing dissolving pulp and exporting it to China is timed perfectly.
No wonder the share price target increased today to $65 / share.
Nighthawk