Canadian lumber stocks up after report says likely lower U.S. duties from Aug. 2020

Conifex Timber

04/02/2020 18:58

** Shares of lumber companies rise after a Globe and Mail
report says preliminary decision by the U.S. Department of
Commerce is expected to sharply lower duties for most Canadian
softwood lumber producers 
    ** The Commerce Department ruled late on Monday that tariffs
imposed on most Canadian lumber sold south of the border could
be reduced  by August - Globe and Mail
    ** Ruling follows the department's review of anti-dumping
and countervailing duties
    ** Shares of West Fraser Timber Co  WFT.TO , Interfor Corp
 IFP.TO , Canfor Corp  CFP.TO , Conifex Timber Inc  CFF.TO , up
between 1% and 5.5%
    ** "While the final rates may be different from those
released today, we expect final rates to be significantly lower
than the current deposit rates, and to begin some time in Q3
2019" - Scotiabank 


 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))