Canada’s lumber market hit by 11% price drop in April, steepest since 2022

Posted on May 26, 2025   |  

Prices for lumber and wood products in Canada fell 4.4% in April, the biggest monthly drop since January 2023.

Softwood lumber led the decline, dropping 11.1%—its sharpest fall since June 2022.

The decrease was driven by weak buyer activity and concerns over potential tariffs.

The Industrial Product Price Index (IPPI) fell 0.8% in April after rising for six straight months.

Even without energy products, the IPPI declined 0.5%, partly due to a stronger Canadian dollar.

Primary non-ferrous metals also dropped: aluminum fell 7.4% and copper dropped 8.1%.

Gold prices rose 5% as investors continued to seek safe-haven assets.

The Raw Materials Price Index (RMPI) fell 3% in April, with crude oil down 9.4% and metal ore prices also decreasing.