12:58 PM EST, 03/04/2025 (MT Newswires) -- RBC views the results of the U.S. Department of Commerce's preliminary determination of softwood lumber anti-dumping duties as "directionally in line with our expectations."

Should the final determination later this year be in line with the preliminary determination, Canfor's ( CFPZF ) anti-dumping duty cash deposit rate will step up ~24.2pp, while West Fraser's will step up ~4.4pp. Rates for All Others (including Interfor ( IFSPF ) and Western Forest Products ( WFSTF )) will increase by ~12.4pp.

While the relative cost disadvantage should be a headwind for Canfor ( CFPZF ), RBC notes that Canfor's ( CFPZF ) lumber capacity in Canada (~29%) is smaller than West Fraser's (~48%) and Interfor's ( IFSPF ) (~40%). "We expect Weyerhaeuser and Potlatch, which have most and all of their lumber capacity in the U.S., respectively, to be relative winners on the back of higher duties (and potential tariffs) on Canadian production."

Price: 14.29, Change: -0.10, Percent Change: -0.69