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 Nov 15, 2022 8:27am

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Post# 35099173

TD Notes

Trees Weekly

Forest Product Equities Rise in Tandem with Broader Markets Commodity Wood Products Markets Remain Sluggish

Forest product equities pare back recent losses. The average share-price improvement for our coverage universe last week was 3.8%, which compared with gains of 3.3% for the S&P/TSX Composite and 5.3% for the S&P 500. Sector outliers included Western Forest (down 8.7%) and Cascades (down 1.2%) as investors digested weak Q3 results and tempered near-term guidance. The average decline from 52-week highs for our coverage universe is 16.8% versus declines of 9.0% for the S&P/TSX Composite and 17.2% for the S&P 500.
North American lumber prices are generally drifting lower amid a subdued market tone. The Western SPF 2x4 (#2 & better) cash price declined 7% from last week to US$430/Mfbm, a one-year low matching levels from early-October. Tighter supplies supported modest gains in the U.S. South, with the Southern Yellow Pine 2x4 (#2 & better) cash price up 1% w/w (the current price of US $455/Mfbm remains near the lowest level since May 2020). Trade periodicals referenced slowing homebuilder demand and inconsistent economic data as weighing on sentiment.
OSB prices remain stable. The benchmark North Central OSB price has held at US$360/Msf since early-September. Prices in other regions are also unchanged. Market reports indicate buyers sticking to near-term needs and maintaining lean inventories.
Softwood pulp prices in China are moderating. The average net transaction price for Northern Bleached Softwood Kraft (NBSK) pulp imported into China is steady at US$933/ton but trade periodicals indicate that Canadian NBSK pulp producers have cut prices by ~US$20-$30/tonne in recent weeks (lower price offers remain within the previous industry range which averages US$933/tonne).