Key Takeaways
- North American #2&Btr SPF prices advanced further in July as constrained production and limited availability offset cautious buying sentiment. Market activity remained selective, with buyers focused mainly on wider widths where supply was particularly tight, resulting in price increases of approximately $50-$70 over the month.
- For J-grade, Q3 negotiations were completed and attention shifted toward monthly spot business. While Japan’s housing market and weak yen continued to weigh on demand, limited inventories among importers and disciplined mill supply prevented significant price erosion, with Q3 pricing achieving only slight gains and remaining well below North American market levels.
- The key question going forward is whether the recent North American price strength can be sustained. With the price gap between domestic and export continuing to widen, export pricing may eventually face pressure to adjust, although the timing and the extent remain difficult to predict.
PNE Amphitheatre
📍Vancoucer, BC, Canada
Western SPF J-Grade 2″x4″
- July 2026: $570-$580
- MoM: +$0
- YoY: ▲$75 (▲11.6%)
*C&F JPN, USD per Thousand Board Feet
Western SPF #2&BTR 2″x4″
- July 2026: $516
- MoM: +$16 (+3.2%)
- YoY: ▲$19 (▲3.6%)
*FOB Mill in Canada, USD per Thousand Board Feet
Western SPF #3/Utility 2″x4″
- June 2026: $455
- MoM: +$2 (+0.4%)
- YoY: +$120 (+35.8%)
*FOB Mill in Canada, USD per Thousand Board Feet