Analysts quoting industry watcher Random Lengths report that western SPF (spruce-pine-fir) lumber prices rose 5.9 per cent or
A CIBC report notes that price is 23 per cent higher than the previous nominal record price of
Meanwhile, oriented strand board — a type of wod panel used in construction — rose by
He also raised his estimates for 2020 average lumber and OSB prices.
"While we recognize that current prices are partially attributable to tight inventory levels through the supply chain, we expect that record repair and remodel demand, rebounding new residential construction activity, and COVID-19 related supply challenges will be enough to keep wood product prices at still historically strong prices through the next few months," Quinn said.
"We still see some upside to our 2021 estimates if rising new residential construction demand is enough to offset the seasonal slowdown in repair and remodel activity."
This report by
Companies in this story: (TSX:CFP, TSX:WFT, TSX:IFP, TSX:CWX, TSX:OSB)
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