In North America, trading picked up in March, supported by limited supply and a spring demand push. Low-grade lumber led gains, often rising in double digits.

J-grade prices faced downward pressure from higher landed costs due to surging bunker fuel and a weaker yen. Some importers scaled back April shipments, while others negotiated lower Q2 prices by increasing volumes with Canadian mills, amid concerns over European products and potential transport issues from Middle East conflicts.

Looking ahead, market direction will depend on supply timing, currency, and logistics. Since year-end 2025, J-grade fell 4.2% while #2&Btr rose 15.4%, showing Canadian mills have sold J-grade overseas with minimal premium. If North American prices remain firm, mills may try to restore a deserved export premium.

Western SPF J-Grade 2″x4″

• March 2026: $570-$580
• MoM: ▲$10 (▲1.7%)
• YoY: ▲$80 (▲12.3%)

*C&F JPN, USD per Thousand Board Feet

Western SPF #2&BTR 2″x4″

• March 2026: $492
• MoM: +$26 (+5.6%)
• YoY: ▲$48 (▲8.9%)

*FOB Mill in Canada, USD per Thousand Board Feet

Western SPF #3/Utility 2″x4″

• March 2026: $420
• MoM: +$72 (+20.7%)
• YoY: +$58 (+16.0%)

*FOB Mill in Canada, USD per Thousand Board Feet