Daily Management Review

Forest fires in Canada raised prices for wood


07/19/2017


World prices for wood are growing because of forest fires in the Canadian province of British Columbia, which is the world's largest supplier of softwood, The Vancouver Sun newspaper writes.



Lotus R via flickr
Lotus R via flickr
There were more than 375 forest fires in British Columbia this year. Over 37 thousand inhabitants of the province are forced to leave their homes. Sawmills and mines in the province are closed, their employees have been evacuated. Imperial Metals Corp. and Taseko Mines Ltd. suspended work of copper mines in the region.

On Monday, wood futures rose in Chicago by $ 10, value of the September contract rose to a maximum of May 8, the value of $ 387.30 per thousand board feet (a measure of the volume of a parallelepiped with sides 1 foot per 1 foot 1 inch; 1 thousand BF is 2.36 cubic meters), reports Bloomberg.

In turn, RBC Capital notes that the impact of fires on the supply of timber is still minimal, but the situation may worsen. According to BMO Capital Markets, wood can rise in price by 6-8% in the next couple of weeks due to a reduction in supply.

source: bloomberg.com






Science & Technology

Deloitte: Smart speakers will show record sales in 2019

China takes the lead in quantum cryptography

Gartner: Chinese smartphones lead sales

Bitcoin Mining Worsens Global Warming Effect

Europe overtakes US by number of patents for self-driving car technologies

Samsung introduces display technology for folding screens

How retailers use technologies to increase sales

Facebook releases videochat devices Portal and Portal Plus

Smartphone makers will pay for pre-installing Google apps‍

Five loudest data leaks

World Politics

World & Politics

Merkel refuses yet another negotiation with May

Hong Kong refuses tiny apartments

Tumblr, Facebook wage war against adult content

Arrest of Huawei’s top manager endangers US-China trade truce

Has Macron given up to Yellow Vests?

What to expect from G20 Buenos Aires summit?

China steps up space race with the US

Climate change will cost US $ 500 billion a year