11.02.202614:20:04UTC+00Lumber Rebounds as Spring Approaches

Lumber futures rose to $600 per thousand board feet, rebounding from a near four-week low of $585.5 on February 6th as tightening supply intersected with improving seasonal demand. The market’s already thin supply cushion has shrunk further just as pre-spring restocking and early signs of stronger construction activity have lifted near-term orders, leaving little slack and magnifying the impact of even modest buying.

On the supply side, North American production has been constrained by mill curtailments and closures, fibre shortages in parts of British Columbia, and other operational disruptions. These have been compounded by slower export flows related to duties and shifting trade routes, collectively reducing shipments into key consuming regions. As a result, inventories and operating rates remain below typical seasonal norms, heightening the market’s sensitivity to incremental demand. At the same time, some builders have restarted projects amid mortgage rate volatility and a modest easing in longer-dated yields.