Slowdown seen in sales of B.C. lumber to China
According to an article in The Globe and Mail, sales of British Columbia lumber to China have declined dramatically -- a major reversal from the strong sales of 2011.
Analysts continue to expect more growth in 2012, but Statistics Canada estimated a mere $67 million in B.C.-to-China lumber sales in December, down 36% from the same month in the previous year.
Canada lumber companies -- including Canfor, whose CEO Don Kayne visited China last week with Canadian Prime Minister Stephen Harper -- look to China as an increasingly important trading partner given the lack of construction in the United States.