JUNE 2025 BUILDING MATERIAL MARKET REFLECTION

Building Material Market Overview

The Western SPF (Spruce-Pine-Fir) lumber market in June was characterized by stabilizing prices, cautious demand, and tight supply management.

The price of Western SPF 2×4 #2&Btr KD (RL) rose slightly by the end of June, up 8% from May.

The commodity markets have largely stabilized across key product categories, enabling mills to establish order files and firm up pricing.

Canada Housing Starts

New Residential Construction Press Release

Western SPF lumber seeing some modest price increases in 2×4 as other widths remain flat with 2×12 still searching for a bottom.

OSB was down overall for the month of June but has found a bottom as prices have remained flat the last 2 weeks.

Plywood was able to push higher on pricing as mills established strong order files heading into July.

EWP remains steady in both supply and pricing. Some mills continue to be impacted by Canadian Tariffs on U.S. products.

Building Materials: We continue to see modest price increases on many products affected by the tariffs.

Looking Through the Crystal Ball

As we enter the typical summer slowdown demand remains sluggish as buyers continue to favor just-in-time purchasing, avoiding taking large inventory positions.

The market appears to be in a holding pattern, with no strong indicators of a near-term breakout in demand. While some price firming was observed, the overall tone remains cautious. Expected buyers to continue their conservative approach unless economic signals improve or supply disruptions intensify.

FRAMING LUMBER

 

R/L JUNE 27, 2025 MAY 30, 2025 +/-
2×4 $659 $621 6
2×6 $539 $531 2
2×8 $512 $510 0
2×10 $604 $607 0
2×12 $798 $876 -9

 

STUDS JUNE 27, 2025 MAY 30, 2025 +/-
2×4 – 92 5/8 $498 $472 6
2×4 – 104 5/8 $593 $566 5
2×6 – 92 5/8 $525 $518 1
2×6 5/8 $566 $559 1

OSB

OSB was down overall for the month of June but has found a bottom as prices have remained flat the last 2 weeks

 

OSB JUNE 27, 2025 MAY 30, 2025 +/-
3/8″ $340 $360 -6
7/16″ $340 $360 -6
15/32″ $360 $390 -8
19/32″ $510 $530 -4
23/32″ $630 $650 -3

PLYWOOD

Plywood was able to push higher on pricing as mills established strong order files heading into July.

 

PLYWOOD (STD) JUNE 27, 2025 MAY 30, 2025 +/-
9.5 (3/8) $633 $580 9
12.5 (1/2) $844 $773 9
15.5 (5/8) $1,055 $967 9
18.5 (3/4) $1,266 $1,160 9
25.5 (1) $1,911 $1,752 9

Framing Lumber Composite Price

JUNE 27, 2025 LUMBER MARKET REPORT HIGHLIGHTS:

Trading overall took a step back from previous weeks, as buyers digested recent purchases and evolving economic developments amid the virus pandemic. Prices of framing lumber were mixed, with recent increases in Canadian S-P-F moderating, Southern Pine prices gaining upward momentum, and many sellers of western species still looking for a bottom. Led by the surge in Southern Pine, the Random Lengths Framing Lumber Composite Price posted a $4 uptick, a second modest increase in as many weeks.

    • Framing lumber markets have faced a strenuous first half of the year. High mortgage rates, economic
      uncertainty, and political tensions have led to prolonged price declines and weak demand.
    • Western S-P-F sales improved moderately as buyers anticipated higher duty rates and potential supply
      shortages, leading to firm or rising prices despite weak demand from end users.
    • Lumber Futures dipped early in the week but rebounded strongly, with steady cash market sales and
      slightly higher prices, while trading volumes and open interest increased.
    • Stud lumber demand and prices for most species were stable to slightly higher, with modest gains in
      some trims.

 

This Week Last Week Year Ago
FRAMING LUMBER COMPOSITE PRICE $576 $581 $501
2×4 #2&BTR KD Western S-P-F $659 $648 $463
2×6 #2&BTR KD Western S-P-F $539 $538 $468
2x4x9′ Studs $668 $660 $455
2x6x9′ Studs $659 $662 $527
2×10 #2&BTR KD Western S-P-F $604 $602 $548

2020-2025 FRAMING LUMBER COMPOSITE PRICE

Structural Panel Composite Price

JUNE 27, 2025 PANEL MARKET REPORT HIGHLIGHTS:

Structural panel sales and price trends were mixed. Sales of OSB were more active, and prices ranged from firming in the north to surging in the south. A surge in demand for Southern Pine plywood that peaked in late trading supported price gains in rated sheathing and led some mills to go off the market to evaluate capacity. Western Fir plywood producers continued to run mills at a reduced rate, yet sheathing prices remained weak. Modestly stronger sales provided some optimism in the Canadian plywood market, but prices lacked any lift.

    • OSB prices stabilized after hitting a low last week.
    • Demand remained weak due to extreme heat and economic concerns, leading to cautious trading
      and steady mill quotes.
    • Western plywood trading was mixed midweek with discounts available, but by Friday, mills stopped
      accepting counters. This resulted in firm prices due to tight production and extended downtime.
    • Canadian plywood prices continued to rise as the first half of the year ended, with mills reporting
      higher sales despite some buyers anticipating a slower July.

 

This Week Last Week Year Ago
ORIENTED STRAND COMPOSITE $359 $359 $482
3/8″ 4×8 OSB $340 $340 $490
23/32″ 4×8 OSB T&G $630 $630 $760
3/8″ 4×8 Spruce Plywood $633 $621 $553

2020-2025 ORIENTED STRAND BOARD COMPOSITE PRICE

*All Pricing is in CAD