Reminder: North America Sees Slight Increase in Weighted Fiber Prices

North America Sees Slight Increase in Weighted Fiber Prices ATHENS, GEORGIA – June 18, 2025 – The Forisk Wood Fiber Review (FWFR) reports that U.S. softwood weighted fiber prices rose by 2% year-over-year through Q2 2025 with Canadian prices up 5%. Hardwood roundwood fell 6% in the Southeast but increased in all other US regions. Softwood roundwood prices in the Southeast began to recover, as Hurricane Helene-downed fiber becomes unrecoverable due to deterioration. Roundwood prices also increased in all other US regions. In British Columbia, all reported prices were flat for the quarter. In Ontario/Quebec, hardwood roundwood prices dropped by 1% while softwood residual prices stayed flat. Chip prices in Canada increased by 4% year-over-year. In British Columbia, softwood pulplog prices were flat for the quarter again. Delivered softwood chip prices rose by 3% in Alberta and 11% in East Ontario/Quebec year-over-year. According to Stephen Wright, Associate Editor of the FWFR, “The industry remains in a state of contraction, with potential policy interventions likely falling short or arriving too late. The impact of the trade war is already evident, as a major sawmilling company in Eastern Canada will temporarily lay off up to 1,400 workers, highlighting the struggle producers are encountering.” U.S. roundwood prices increased 5% year-over-year, and chip prices fell by 2%, varying regionally. In the Pacific Northwest, prices for softwood residual chips rose by 5%, while softwood roundwood increased by 17% year-over-year. In the Lake States, chip prices and hardwood roundwood prices were mostly stable. Softwood roundwood prices in the region were up 5% for the quarter, and 5% for the year. The Northeast saw increases for softwood residual chips by 7% and 4% for softwood roundwood. In the Southeast, softwood roundwood increased by 10%, partially due to Hurricane Helene-downed wood deteriorating. Prices for other fiber products in the region were flat or decreased. In the South-Central region, all roundwood prices increased by at least 2% for the quarter. Softwood residual chips stayed flat year-over-year, but hardwood residual chips are down 7% from June 2024. Brooks Mendell, CEO of Forisk Consulting, commented, “On the policy side, reporter views converged from the wide range of ‘pros’ and ‘cons’ to a narrow range of ‘all the perceived chaos’ and ‘everything has calmed down.’ Politics disrupted markets, but folks are still doing business.” Wood fiber costs account for over half of total pulp manufacturing costs worldwide. The Forisk Wood Fiber Review includes prices and market commentary for all major North American regions, providing essential data for anyone that needs to track pulpwood, wood chips, and biomass prices in the world’s largest and most dynamic wood fiber markets. The FWFR provides updates on softwood and hardwood prices for major markets in North America. Prices are reported for wood delivered to consuming plants as a range and average. Each report also updates U.S. and Canada trade statistics for lumber, logs, wood pellets, wood chips and pulp. For more information or to subscribe to Forisk Wood Fiber Review, contact: Nick DiLuzio, ndiluzio@forisk.com, 770-725-8447.  About Forisk Consulting: Forisk delivers forecasts and analysis of forest industry markets and timberland investments. Firms participate in Forisk’s research program by subscribing to the Forisk Research Quarterly (FRQ), Forisk Wood Fiber Review, or the North American Forest Industry Capacity Database; supporting benchmarking studies related to forest operations and mail capacities; and attending educational workshops.   Forisk Consulting | www.forisk.com

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North America Sees Slight Increase in Weighted Fiber Prices

North America Sees Slight Increase in Weighted Fiber Prices ATHENS, GEORGIA – June 18, 2025 – The Forisk Wood Fiber Review (FWFR) reports that U.S. softwood weighted fiber prices rose by 2% year-over-year through Q2 2025 with Canadian prices up 5%. Hardwood roundwood fell 6% in the Southeast but increased in all other US regions. Softwood roundwood prices in the Southeast began to recover, as Hurricane Helene-downed fiber becomes unrecoverable due to deterioration. Roundwood prices also increased in all other US regions. In British Columbia, all reported prices were flat for the quarter. In Ontario/Quebec, hardwood roundwood prices dropped by 1% while softwood residual prices stayed flat. Chip prices in Canada increased by 4% year-over-year. In British Columbia, softwood pulplog prices were flat for the quarter again. Delivered softwood chip prices rose by 3% in Alberta and 11% in East Ontario/Quebec year-over-year. According to Stephen Wright, Associate Editor of the FWFR, “The industry remains in a state of contraction, with potential policy interventions likely falling short or arriving too late. The impact of the trade war is already evident, as a major sawmilling company in Eastern Canada will temporarily lay off up to 1,400 workers, highlighting the struggle producers are encountering.” U.S. roundwood prices increased 5% year-over-year, and chip prices fell by 2%, varying regionally. In the Pacific Northwest, prices for softwood residual chips rose by 5%, while softwood roundwood increased by 17% year-over-year. In the Lake States, chip prices and hardwood roundwood prices were mostly stable. Softwood roundwood prices in the region were up 5% for the quarter, and 5% for the year. The Northeast saw increases for softwood residual chips by 7% and 4% for softwood roundwood. In the Southeast, softwood roundwood increased by 10%, partially due to Hurricane Helene-downed wood deteriorating. Prices for other fiber products in the region were flat or decreased. In the South-Central region, all roundwood prices increased by at least 2% for the quarter. Softwood residual chips stayed flat year-over-year, but hardwood residual chips are down 7% from June 2024. Brooks Mendell, CEO of Forisk Consulting, commented, “On the policy side, reporter views converged from the wide range of ‘pros’ and ‘cons’ to a narrow range of ‘all the perceived chaos’ and ‘everything has calmed down.’ Politics disrupted markets, but folks are still doing business.” Wood fiber costs account for over half of total pulp manufacturing costs worldwide. The Forisk Wood Fiber Review includes prices and market commentary for all major North American regions, providing essential data for anyone that needs to track pulpwood, wood chips, and biomass prices in the world’s largest and most dynamic wood fiber markets. The FWFR provides updates on softwood and hardwood prices for major markets in North America. Prices are reported for wood delivered to consuming plants as a range and average. Each report also updates U.S. and Canada trade statistics for lumber, logs, wood pellets, wood chips and pulp. For more information or to subscribe to Forisk Wood Fiber Review, contact: Nick DiLuzio, ndiluzio@forisk.com, 770-725-8447.  About Forisk Consulting: Forisk delivers forecasts and analysis of forest industry markets and timberland investments. Firms participate in Forisk’s research program by subscribing to the Forisk Research Quarterly (FRQ), Forisk Wood Fiber Review, or the North American Forest Industry Capacity Database; supporting benchmarking studies related to forest operations and mail capacities; and attending educational workshops.   Forisk Consulting | www.forisk.com

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From Closures to Investments: Q2 2025 Mill Activity at a Glance

From Closures to Investments: Q2 2025 Mill Activity at a Glance ATHENS, GEORGIA – June 5, 2025 – Each quarter, Forisk compiles data on mill activity through its ongoing tracking of wood-using facilities as part of Forisk’s North American Mill Capacity Database, a database of over 2,300 wood-using mills in North America. This release provides a summary of mill updates from the Q2 2025 edition of the Forisk Research Quarterly.   Forest industry manufacturing developments in 2025 include mill closures mixed with some forward movement of capital projects. New announced projects, however, have stopped as companies seek clarity given economic uncertainty before they commit new capital.   Mill Closures Continue This quarter was marked by a series of significant mill closures, continuing the industry’s trend of phasing out older and less efficient facilities. International Paper officially closed their Campti, LA linerboard facility on April 11, 2025. Georgia-Pacific ceased plywood operations in Emporia, VA on May 2 and announced plans to shutter its pulp mill in Cedar Springs, GA in August 2025. Wilson, Kaiser & Olsen, Inc. (WKO) will close its plywood mill in Bingen, WA in June 2025.   U.S. South: Investment and Restructuring In the U.S. South, capital improvements and ownership transitions dominated the headlines: Domtar completed a $51 million modernization of the pulper at the Hawesville, KY pulp will. The new pulper will add flexibility for multiple end products. Two buyers purchased three of the Teal-Jones Group mills out of receivership: Sumitomo Forestry purchased 57% in the new Plain Dealing, LA sawmill. Teal-Jones will continue to manage operations at the Plain Dealing mill. Twain Capital purchased the Antlers, OK and Liberty, MS sawmills for $10 million. Big River Lumber in Coushatta, LA is currently offline following a fire in Q1 2025. While down, the mill is upgrading its sorter and grader, with operations expected to resume by July 2025.  SDI Biocarbon Solutions is preparing to soft commission in June as testing wraps up. This facility plans to use 1.4 million tons of softwood pulpwood per year at capacity to produce low carbon hydrogen that will be used internally and biocarbon. Hood Companies remain on track to commission the $200 million rebuild of the Beaumont, MS plywood mill in Q3 2025.   U.S. West: Capacity Expansions and Modernization Several firms in the U.S. West announced substantial upgrades and expansions: Roseburg Forest Products invested $200 million in two of its mills, adding a new hardwood plywood line and two new lathe lines in Riddle, OR, along with a new dryer at its Coquille, WA plywood plant. Freres Engineered Wood upgraded its mass plywood panel facility in Lyons, OR by replacing the press and installing a larger CNC machine. These enhancements have boosted production by over 35%. Vaagen Brothers in Colville, OR installed a new high-speed planer allowing them to now process up to 12-inch-wide boards and lengths up to 20 feet. Sequoia Forest Products purchased and rebuilt the former Arcata Forest Products sawmill in Arcata, CA. The facility will primarily produce redwood fence posts.   A summary of Q2 2025 mill projects is shown in the table below.  For more information or to subscribe to Forisk’s Mill Capacity Database, contact: Nick DiLuzio, ndiluzio@forisk.com, 770-725-8447.  About Forisk Consulting: Forisk delivers forecasts and analysis of forest industry markets and timberland investments. Firms participate in Forisk’s research program by subscribing to the Forisk Research Quarterly (FRQ), Forisk Wood Fiber Review, or the North American Forest Industry Capacity Database; supporting benchmarking studies related to forest operations and mail capacities; and attending educational workshops.   Forisk Consulting | www.forisk.com

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