torn wood again Bringing back the horrors of rising construction costs, Lumber Futures has offset its latest losses and surged to the highest exchange at $45 for six consecutive sessions, hitting $1,204.90 per 1,000 board feet on Wednesday. which was the highest in three weeks After prices tumbled in January amid US cold weather and shipping bottlenecks
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Tight inventory ahead of peak construction season is fueling a rebound.
“Prices are above trend pricing. Like our own price predictions,” Mark Wilde, analyst at BMO Capital Markets in New York, said in an email on Wednesday. “Furthermore, we are heading into the spring construction season and housing market activity. So I wouldn't be surprised if the price goes up again.
Timber prices have fluctuated since the start of the pandemic. and hit record levels amid the boom in building construction from the COVID-19 pandemic. It then collapsed as sawmills increased production and higher prices drove down demand. The composite framework index has more than tripled since late August. As a result, the average cost of new homes has increased.
