Robust European Growth Somewhat Offset Weakness in North America for Norbord During 1Q
On the heels of a challenging fourth quarter, North American benchmark prices for oriented strand board fell another 8% to start 2019. Last year's capacity growth by industry participants suppressed prevailing prices, compounded by slower homebuilding as we entered the new year. One offset was robust demand growth in Europe, which drove volumes higher by 15% versus the fourth quarter. We've modestly lowered our production outlook for 2019 in North America to reflect the likelihood of curtailment...Norbord is a producer of wood-based panels with 17 plant locations in the U.S., Europe and Canada.
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