Scout**
2022-06-04 18:23:38
- #1
Lumber prices (Lumber) fell by 7 percent on the Chicago futures market on Wednesday. This week, they dropped by a total of 12 percent. Thus, the most important raw material for the construction industry and other sectors has fallen to a new yearly low of 608.60 USD per 1,000 board feet. Overall, prices on the world market have crashed by 47 percent since the beginning of the year and are thus 65 percent below the 2021 peak of 1,733 USD per 1,000 board feet. This drastic price decline is also expected to affect prices at the major international trading centers and, at least in the medium term, significantly push down European export prices for wood. Analysts from the USA also say that the price drop in lumber will reduce the massive inflationary pressure on the real estate market in the USA (but also in Europe) and that construction costs are likely to gradually decrease.
Source: Agrarheute
Source: Agrarheute