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Lockdown Renovation Boom Sends Canadian Lumber Stocks Surging

  • Canfor hits seven-month high amid 10 straight days of gains
  • Mill shutdowns causing widespread lumber shortages, RBC says

Canadian forestry stocks are surging as consumers stuck at home during the pandemic ramp up renovations on their homes and dwindling lumber supplies send timber-product prices to a two-year high.

Canfor Corp. shares touched a seven-month high on Friday and were headed for their tenth straight gain. Shares of West Fraser Timber Co. and Interfor Corp. also have been on a tear and have nearly tripled since March. All three companies are based in Vancouver.