Thanks, morning, everyone. Dave. Good
As story solid Dave which by highlighted, operating pulp our the has markets, weak this our performance dominated QX was results obscures of quarter.
slightly QX, only to the Similarly, prices. construction Rosenthal's low but disruption, we Our record annual but a shut, strong near this remained despite otherwise pulp worked had quarter, Friesau in lumber production through was result production maintenance historically levels. sawmill due our financial was as at occasional down we slightly down
operating of prudent value-creation pillars organic acquisitions maintaining core modern growth sheet, seize performance standard of all spaces a are strong key reminder, assets, and maintain in balance strategy Our strategy. to opportunities a of we highest of adjacent the and while safety the that management the and sustainability. have world-class result competence, And is long-term businesses as where our
QX the our and European pulp NBSK to were flat through China prices Now, steadily weakened markets. turning through prices essentially quarter.
to in increased price However, implement demand quarter, us for a we saw $XX increase leading late October. the
European European compared $XXX to list $XXX ton, price QX. per QX in averaged $XXX about list prices ton. in was per October's
producer was from to Chinese resulting and price believe is that tightening with maintenance some in ton, combined floor. average or in per per market which $XXX inventory was QX, levels, $XXX QX downtime curtailment from near the announcements, the recent regions at NBSK us price China, supply lead the down In decreasing NBSK fiber NBSK ton
The market average the down China in price QX $XXX hardwood ton, per ton QX. And averaged U.S. was $XXX list compared per $X,XXX price from $XXX in list hardwood in QX. QX, to
including high certain have grades. These The been demand are and printing have of be pulp continue uncertainty related and been all influenced influencing factors, producer to creating of dispute, levels, writing affecting pulp markets a pulp markets by which number and factors all U.S.-China tariffs conditions, inventory for trade markets. negatively the reducing pulp in prices by macroeconomic
In been limit pulp high have today. pulp inventories buyers producer addition, to levels allowing their purchasing
inventories that QX, floor, take maintenance could began in believe as inventories. to Later feel it and of be downtime will their to -- we near NBSK but and shift higher balance, will a unusually to into back that prices good hardwood demand, producer producer result take the high they some market producer as tightening time longer combined the We curtailments. work with through
We or expect moves pressure under to the at producer hardwood market inventory will customers excess the until traders. remain level the
producers believe once this will extremely also paper that low begins paper levels, restock. so However, tighten, market be to have we compelled to inventory producers that
new with that absence believe ahead, exert Looking to the combined demand prices. we of steady continue will on upward capacity further pulp pressure
experience demand. steady business, market continues the to products to European wood lumber the regards With
pricing was in the sawlog prices of down Europe. compared QX, However, primarily which to result was lower slightly here
and the Lumber statistical pressure. lumber pricing We markets market a this data that QX, seeing but increase through believe we creating in upward positive continued in prices. U.S. curtailments production steady volatility but are the their overall housing on U.S. slow lumber are
In addition, sawlog supply in lack announcements. further British Columbia curtailment could of force
U.S. sales The $XXX U.S. per board in is in board in better in XX% and level closer QX. remainder number compared the market of to were benchmark $XXX random for European per lumber Today, X the sales our the length of QX, X,XXX with of In QX, to majority $XXX SPF our about Western X,XXX volume market. feet the averaged the the feet. benchmark
selling We realized sales feet due $XXX When cost, from resulting QX. sawlog producers price Although at log $XXX still below prices in compared up slightly our dropped levels. average part in to U.S. they're per in lumber in QX, board sustainable to to certain Canada. Western to in are are QX, believe QX, prices X,XXX lumber currently comparing high not shortages
Our tons XXX,XXX mills produced gigawatt XXX ran pulp, very of we venture, well including a our in Cariboo joint and record of power. near QX, hours
from pulp QX's our down production, Our maintenance was production Rosenthal scheduled to in due mill at record QX. primarily
produced quarter. weak $X.X Despite in products conditions, of we XX feet segment market generated about well lumber million wood the quarter. and EBITDA million board almost of this performed Our
pulp which wood mill. quarter, resulted $XX to achieve over $X.X chip million also for of Friesau the cost such Rosenthal sawmill majority synergies. us created Friesau the has synergies reduced of from of almost The allowed Year-to-date, this million
In those damaged beetle Canada, pulpwood is options limiting wood resulting volume cost have and in resulting to chips been plentiful costs in storm is sawmills sawmill continues higher volumes. remains are lower the generally. which and Western Germany, as to tight production, available, In that of be curtailing supply log used replace
cost stable we forward, Looking QX. to expect our be wood for
tie-in total Turning now I planned maintenance, not week. At of some upgrade. at to note was safely our QX. shut At pleased completed as including shut XX-day shut our of productivity in throughout Celgar, we the QX, Stendal, have to we QX, days. took mentioned that improvements quarter, to annual In a the this XX shut we last line completed packaging XX-day a the in only have a expect taken mill, we I'm for schedule. important but a major maintenance
We boiler, XX-day of rescheduled key shut the an At delaying shut due to a supplier work this a to in we QX originally take take recovery the quarter. repair Peace we River, parts, this planned will delivery to XXXX. but into extended
more I want complete have and smooth people the Peace River, The is quickly integration our should culture. and adapted I successful. Mercer less or that mention was While to
already for with In it years. feels been like us they've fact,
of average capital continue our earlier flexibility us Dave borrowing cost XXXX an noted, high-return million opportunistic our allow notes. month, additional our and to us lower this was for issued create program. This senior $XXX to transaction As we to advancing some
committed our to remain strategy. growth We
to a lumber continue and Mercer's opportunity in production, approach will competencies long-term to shareholder pulp We wood energy. maximize will Any and value. disciplined we as take core bio-extractives, consider green derivatives, framed as be ensure well by we
from creation to Our Mercer value long-term shareholders. core drive continue will competencies
turn for So, now this remarks. operator We’ll completes questions. prepared the to call back our the
