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US open to fresh negotiations with Canada to resolve softwood lumber dispute but US Trade Representative says Canada must be ready to address US concerns that its policies amount to subsidies for Canadian producers

Lumber prices are falling but remain well above 2020 high of US$400/mbf; industry groups say supply chain bottlenecks, labor shortages, tariffs on Canadian imports amid continued high demand in US housing market expected to keep lumber prices volatile

US Dept. of Commerce preliminarily determines countervailable subsidies were provided to producers, exporters of certain softwood lumber products from Canada during 2020 review, will rescind this review for one company, intends to rescind for 27 companies

US Dept. of Commerce conducting administrative review of antidumping duty order on certain Canadian softwood lumber products in 2020; DOC preliminarily determines producers/exporters under review made sales of subject merchandise at less than normal value

RBC Capital: Lower duty rates viewed as positive for Canadian softwood lumber producers; at current prices, revision could save US$100-US$150/mbf of duty costs, with Canfor being largest beneficiary given its rates could fall to 6.8%, the lowest in Canada

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