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Western Forest Products Inc T.WEF

Alternate Symbol(s):  WFSTF

Western Forest Products Inc. is a Canada-based integrated forest products company building a margin-focused log and lumber business to compete in global softwood markets. The Company’s primary business is the sale of lumber and logs, which includes timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber. It has a lumber capacity of approximately 885 million board feet from six sawmills, as well as operates four remanufacturing facilities and two glulam manufacturing facilities. The Company's product categories include outdoor living, exterior appearance, LIFESTYLE CEDAR, interior living, structural, industrial and WFP engineered products. Its outdoor living products include decking, timbers and fencing products. Its LIFESTYLE CEDAR products include LIFESTYLE CEDAR Decking and LIFESTYLE CEDAR Fencing. Its WFP Engineered Products include curved and arched glulams, straight glulams, and fabricated trusses.


TSX:WEF - Post by User

Bullboard Posts
Post by SandHeadson Jul 27, 2016 11:33am
142 Views
Post# 25088527

Excerpted from CFP Q2 report.

Excerpted from CFP Q2 report.

North American lumber demand was solid across all segments of the market in the second quarter of 2016, with US housing starts in line with the previous quarter, averaging 1,160,000 units on a seasonally adjusted basis. Canadian housing starts were also broadly also in line with the previous quarter, at an average of 198,000 units on a seasonally adjusted basis. Offshore lumber demand remained steady during the quarter.

The average benchmark North American Random Lengths Western SPF 2x4 #2&Btr price was US$311 per Mfbm in the second quarter of 2016, up US$39 per Mfbm compared to the previous quarter, with similar price increases seen across most other dimensions and grades, with the exception of Western SPF 2x6 #2&Btr price which showed a more modest increase. Western SPF unit sales realizations benefitted from the higher US-dollar benchmark lumber prices as well as a higher-value sales mix. Partly offsetting these factors was the 7% stronger Canadian dollar during the quarter. SYP unit sales realizations also increased compared to the previous quarter reflecting both a US$30 per Mfbm increase in the SYP 2x4 #2 price, and more pronounced price increases in most wide-dimension SYP lumber products which represent a significant proportion of the Company's product mix in the US South.

Total lumber shipments and production were in line with the first quarter of 2016 as the recent acquisition of Wynndel offset slightly reduced production in Western Canada as a result of the Houston sawmill's kiln fire. Unit manufacturing costs in the second quarter of 2016 were in line with the previous quarter.

Positive pricing momentum in global softwood pulp markets during the second quarter of 2016 was due mostly to the impact of industry spring maintenance outages and solid demand, particularly from China. The average North American US-dollar NBSK pulp list price, as published by RISI, was up US$37 per tonne, or 4%, to US$980 per tonne, while the average price to China was up US$27 per tonne, or 5%.


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