Interfor Corp T.IFP

Alternate Symbol(s): IFSPF

Forest Products Lumber & Wood Production

Interfor Corporation is a Canada-based forest products company. The Company and its subsidiaries produce wood products in Canada and the United States for sale to markets around the world. It operates through the solid wood products segment. The Company’s product categories include Dimension Lumber, Specialty Lumber and Engineered Wood Products. Its products include Spruce-Pine-Fir, Douglas Fir-Larch, Hem-Fir, Southern Yellow Pine, Western Red Cedar, Douglas Fir-Larch, and P3-Joist. Its sawmills provide a diverse range of sustainable products to supply North American markets with a complete offering of framing materials. Its Western Red Cedar products include Elite Decking, Elite Fascia & Boards, Elite V-Joint Paneling, Elite Fineline Paneling, Elite Channel/Lap Siding, Elite Bevel Siding and Elite Shadow Gap Siding. It has an annual lumber production capacity of approximately 5.0 billion board feet and offers a diverse line of lumber products to customers around the world.

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Interfor Corp

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Post by retiredcfon Oct 12, 2021 9:07am

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Post# 33996613

TD Notes

Trees Weekly

North American Wood Product Price Gains Continue Recycled Fibre Costs Level Off

After a period of steady gains over the previous month, forest product equities were quiet last week. The average week-over-week share-price increase of 0.1% for our coverage universe lagged gains of 1.3% for the S&P/ TSX Composite and 0.8% for the S&P 500. In our coverage universe, declining equities outpaced gainers at a 2:1 rate; the only notable positive performers last week were RFP and WFG. The average sector gain from recent lows is 19.8%.
Lumber prices are still marching higher across all regions. The Random Lengths framing lumber composite price of US$516/Mfbm improved 4% w/w — the sixth consecutive weekly gain — and is up 33% from late-August lows. Gains last week were weighted to Southern Yellow Pine (SYP) amid lean inventories and weather-related production curtailments. At our Forest Products Conference on September 29, management teams characterized the recent market recovery as demand-led, with retail buyers having worked through excess inventory over the summer. Capacity addition announcements continue to accumulate, but we expect that most incremental supply will not start until 2023 or later.
OSB market gains continue, but the pace is lagging the lumber price recovery. The North Central price of US$480/Msf increased 2% last week — the eighth consecutive weekly gain. Anecdotal reports indicated a slowing buying pace late in the week and short order-file length.

Recycled fibre costs pause following rapid 10-month rally. October old corrugated container (OCC) prices were flat in New York at US$175/ton (low end of the price range) and the U.S. average declined US$3/ton to US$164/ton. The average increased almost three-fold between December 2020 and August 2021, led by higher demand from new recycled containerboard capacity. Reports attributed the price plateau to containerboard maintenance downtime and a pause in panic buying. Directionally, this is a positive development for CAS.