National Hardwood Magazine - September 2021

ONTARIO Continued
wave of the pandemic. Most summer gains were in accommodation/food
services and retailing. The wave of
hiring will continue: the Bank of Canada’s Business Outlook
Survey reports record hiring intentions.
The report is the same for small and medium businesses,
which in the summer reported labor scarcities
as acute as before the pandemic – 41 percent worried
about a lack of skilled labor and 27 percent about lack
of unskilled labor. This situation is explained: in June
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about 800,000 workers were still drawing on the income
support program. This support is slated to diminish considerably
in August, from $500 a week to $300, which
could encourage workers to go back to work and reduce
labor-market tensions.
Additionally, Finance Minister Freeland said economists
are forecasting a strong economic recovery, but
Ottawa is retaining the power to extend support measures
until the end of November if needed. n
QUEBEC Continued from page 12
remaining at a good pace, added
some contacts. There were also
more prospective customers seeking
additional Basswood supplies or
as an alternative for the more difficult
to find species or wood composites.
Demand from Southeast Asia
and Mexico end users were seeking
good volumes of Basswood.
The regionally important Hard
Maple gap between supply and demand
is getting narrower, due to improved
production in most regions in
Canada and the U.S. border states.
Flooring manufacturers, cabinet and
components producers are vying for
this species.
On the Soft Maple side, furniture
manufacturers and cabinetmakers
are keeping up a steady demand of
this species and are in need of more.
Demand of this species varies by
grade; upper grade availability is lagging
demand, whereas No. 1 Common
and No. 2A are more available.
Almost everyone who is producing,
selling or using Cherry has had
to adjust to the reduced demand of
this species from China. Although
demand for Cherry has risen in the
U.S., Mexico and Canada from their
very low levels, contacts noted.
Market activity for Hickory is vibrant,
especially with residential
wood flooring. Manufacturers have
managed to build larger Hickory
inventories over the last several
months. Demand by consumers for
Hickory flooring is holding up. Hickory
is also moving to other end user sectors domestically
and to export markets, led by Mexico.
It was noted that residential and truck trailer flooring
manufacturers have been very busy. Prices for Oak strip
flooring have climbed to record highs, with demand approaching
levels seen in the mid-2000s. Truck trailer
flooring markets are strong with plants trying to ramp up
production. Flooring manufacturers say they need more
lumber to meet current and anticipated demand. With the
housing sectors in both the U.S. and Canada, it doesn’t
appear it will let up any time soon.
Flooring manufacturers are also
aggressively pursuing raw materials
of Red Oak, and green Nos. 2A
and 3A. Demand from wholesalers
for No. 1 Common Red Oak is also
good. Exports to China for kiln-dried
Red Oak are sluggish, which is seen
as normal for this time of year.
Demand for Poplar remains solid
and strong. Interest from long-time
customers is good, and shortages of
competing materials are also helping
sustain Poplar demand. Poplar producers
and users watch softwood
availability and pricing since both
materials vie on the same markets.
With softwood prices coming down,
it has had little to no effect on Poplar
business.
Walnut is doing well on the domestic
front, in the U.S. and demand has
climbed from Mexico.
Despite the pandemic, close to 70
percent of business owners in Canada
feel optimistic says a Canadian
Imperial Bank of Commerce (CIBC)
poll. The CIBC study suggests business
owners feel brighter days may
be ahead: 69 percent say they feel
optimistic about the long-term future
of their business. Findings also show
there is a downward trend in how
business owners feel they have been
negatively impacted by COVID-19:
58 percent, down from 68 percent
reported in November 2020 and 81
percent in April 2020.
“Canadian business owners continue
to show extraordinary resil-
ience during these difficult times,” said Senior Vice-President,
Business Banking, CIBC, in a prepared statement.
“As the economy moves toward opening up, I encourage
owners to seek advice about any additional relief they
may need, including help with cash-flow management or
additional future-proofing to meet their long-term ambitions.”
Top concerns remain similar to when the pandemic
first broke, but amongst fewer business owners. A reduced
demand for products/services is still a worry for
Please turn to page 71
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60 SEPTEMBER 2021 n NATIONAL HARDWOOD MAGAZINE SEPTEMBER 2021 n NATIONAL HARDWOOD MAGAZINE 61