Conifex Timber slumps on curtailing output at British Columbia sawmill
20/08/2021 15:35
** Shares of lumber company CFF.TO down as much as 4.74%
at C$1.81
** Co to temporarily curtail lumber production at its
Mackenzie, British Columbia sawmill for two weeks commencing
Aug. 23 urn:newsml:reuters.com:*:nGNX6LHVnR
** Record-high delivered log costs and a collapse in lumber
prices necessitated the move - CEO
** Lumber futures LBc1 have pulled back from record highs
of $1,711 per thousand board feet hit in May, last trading at
$463.10 urn:newsml:reuters.com:*:nL4N2PB37U
** Stock up ~26% YTD, as of last close
(Reporting by Rithika Krishna in Bengaluru)
((Rithika.Krishna@thomsonreuters.com;))