Norbord ceo Barrie Shineton said the company’s European division, comprising the Inverness (OSB), Cowie (MDF and chipboard), South Molton (chipboard and further processing) and Genk, Belgium (OSB) mills delivered a strong performance.

Norbord said panel markets remained steady in Europe, despite continuing macroeconomic uncertainty.

Average panel prices increased 2% year-on-year in the first quarter and 5% compared to the previous quarter. The average European OSB price was €265/m3 (gross delivered price to the largest Continental market).

OSB and chipboard markets were strong and MDF markets remain stable.