{"id":415,"date":"2025-09-29T14:52:01","date_gmt":"2025-09-29T21:52:01","guid":{"rendered":"https:\/\/tandhforest.com\/?p=415"},"modified":"2025-09-29T14:52:43","modified_gmt":"2025-09-29T21:52:43","slug":"market-update-spf-september-2025","status":"publish","type":"post","link":"https:\/\/tandhforest.com\/wp\/?p=415","title":{"rendered":"Market Update: SPF September 2025"},"content":{"rendered":"<p data-start=\"100\" data-end=\"119\"><strong data-start=\"100\" data-end=\"117\">Key Takeaways<\/strong><\/p>\n<ul>\n<li data-start=\"162\" data-end=\"301\">\n<p data-start=\"164\" data-end=\"301\">Higher US duty rates combined with historically weak demand are expected to keep Canadian SPF prices below breakeven through September.<\/p>\n<\/li>\n<li data-start=\"302\" data-end=\"469\">\n<p data-start=\"304\" data-end=\"469\">Many Canadian SPF mills may face increasing pressure for production shifts or curtailments in Q4, as neither demand nor prices show signs of recovery at this time.<\/p>\n<\/li>\n<li data-start=\"470\" data-end=\"643\">\n<p data-start=\"472\" data-end=\"643\">Q4 J-Grade negotiations are stabilizing with some discounts from Q3, though some buyers continue to push for deeper reductions, potentially extending talks into October.<\/p>\n<\/li>\n<\/ul>\n<p><strong>Western SPF J-Grade 2\u2033x4\u2033<\/strong><\/p>\n<ul>\n<li>September 2025: $630-$640<\/li>\n<li>MoM: \u25b2$15 (\u25b22.3%)<\/li>\n<li>YoY: +$45 (+7.7%)<\/li>\n<\/ul>\n<p>*C&amp;F JPN, USD per Thousand Board Feet<\/p>\n<p><strong>Western SPF #2&amp;BTR 2\u2033x4\u2033<\/strong><\/p>\n<ul>\n<li>September 2025: $422<\/li>\n<li>MoM: \u25b2$25 (\u25b26.0%)<\/li>\n<li>YoY: +$34 (+8.8%)<\/li>\n<\/ul>\n<p>*FOB Mill in Canada, USD per Thousand Board Feet<\/p>\n<p><strong>Western SPF #3\/Utility 2\u2033x4\u2033<\/strong><\/p>\n<ul>\n<li>September 2025: $285<\/li>\n<li>MoM: \u25b2$25 (\u25b28.1%)<\/li>\n<li>YoY: \u25b2$10 (\u25b23.4%)<\/li>\n<\/ul>\n<p>*FOB Mill in Canada, USD per Thousand Board Feet<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Higher US duty rates combined with historically weak demand are expected to keep Canadian SPF prices below breakeven through September. Many Canadian SPF mills may face increasing pressure for production shifts or curtailments in Q4, as neither demand nor prices show signs of recovery at this time. Q4 J-Grade negotiations are stabilizing with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[],"class_list":["post-415","post","type-post","status-publish","format-standard","hentry","category-market-update","category-news"],"_links":{"self":[{"href":"https:\/\/tandhforest.com\/wp\/index.php?rest_route=\/wp\/v2\/posts\/415","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tandhforest.com\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tandhforest.com\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tandhforest.com\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tandhforest.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=415"}],"version-history":[{"count":2,"href":"https:\/\/tandhforest.com\/wp\/index.php?rest_route=\/wp\/v2\/posts\/415\/revisions"}],"predecessor-version":[{"id":417,"href":"https:\/\/tandhforest.com\/wp\/index.php?rest_route=\/wp\/v2\/posts\/415\/revisions\/417"}],"wp:attachment":[{"href":"https:\/\/tandhforest.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tandhforest.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tandhforest.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}