Analysis: Canadian wildfires shutter sawmills, drive up lumber prices

- REUTERS/Chris Wattie/File Photo

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WINNIPEG, Manitoba, June 12 (Reuters) - Canada's worst-ever spring wildfire season has forced its forestry industry to shutter sawmills, driving up lumber prices and setting production back for months just as housing construction has slowed due to higher costs and a tight labour market.

Canada has the world's third-largest forest area and is the second-largest softwood lumber producer, according to Canadian government estimates, making it a key supplier of a critical housing material.


Source: Reuters


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