SPF

On Monday, President Trump announced that Canadian lumber being imported into the US would gain another 10% tariff beginning on October 14^th. Trump stated that wood product imports were weakening the US economy and were threatening the closures of wood mills in the United States.

So, SPF took on its first week of increases in nearly two months. Many buyers did see an overnight spike in their quotes when comparing to last week’s prices but the premiums seemed to dwindle as the week went on. Overall, 2x4s went up $5/mbf and 2x6s by $10/mbf. Stud increases were varying but none were more than $10/mbf.

This new tariff could be the turning point for the SPF market for the remainder of the year. The 10% tariff is likely to trend SPF on a slow climb. Many mills saw some of their best week in sales as many buyers had been on the sidelines the past months awaiting the confirmation that prices were at the bottom.

SYP

There may have been some ripples from the Canadian tariff felt in SYP prices, but SYP seemingly stayed on the same trajectory it has been on with small increases across nearly all dimensions.

2x4s and 2x8s took on the largest increases, rising around $10/mbf.

2x4s, 2x6s, and 2x12s only saw a $5/mbf increase on most widths while 2x10s hardly moved this week.

Many mills did mention that most of the long held inventory had been finally bought which could lend to a small spike in prices for the next few weeks as supplies could become tight with nice fall weather allowing for more building across the country.

OSB

OSB has yet to react to the tariffs but it is highly possible that we see a small increase in OSB next week as we have not seen any movement in prices in months.