The shortage of wood caused by the epidemic is not over, according to the US Fortune website on the 20th. Novel coronavirus pneumonia outbreak has increased global timber prices by 188%, according to data from Random Lengths, a global timber industry research firm.
In the week ending March 11, the price of wood per thousand board feet (North American unit of measurement) was $1044 (equivalent to $442 per cubic meter, about RMB 2876), a record high.
The National Association of home builders estimates that the current timber price will push up the price of a typical single family house by at least $24000.
On the one hand, the high price of wood is due to the reduction of the efficiency of sawmills due to the epidemic restriction measures, which leads to the decline of wood supply. During the isolation period, more Americans decorated their houses, which pushed up the demand for wood. In addition, the low interest rate policy, coupled with the low inventory of existing houses, makes builders have to speed up building houses, which also leads to a more serious shortage of wood.
Analysis shows that with the expansion of vaccination coverage, the output of wood processing plants will increase, and the problem of distribution delay will gradually ease. It is expected that the supply of wood will increase in the next few months, which will lead to the decline of wood prices.
Post time: Mar-31-2021