Lumber prices update in Around Town
Your Weekly Construction Briefing
Last week’s BC Ministry of Forests Product Pricing sheet is showing lumber prices increasing slightly from May’s monthly average, and still remaining 30 to 40% lower then the average annual price in 2022.
By the end of last week, the price of Western Spruce-Pine-Fir 2×4 #2&Btr KD (RL) reached US $436 mfbn, up from May’s monthly average of $358 mfbn.
Compared to the same week last year, when it was US$640 mfbm, last week’s price is down by $204, or -38%.
US housing starts and new home sales date for May 2023 suggests a turn-a-round point from the slow-down of mid-2022 when lending rates started to rise. Improvement in housing completions suggests the backlog for housing construction is easing.
Questions remain about overall supply given ongoing wildfires, but demand remained strong for lumber, studs, and panels through mid-June. Other concerns includ recent curtailments and production adjustments, as well as upcoming summer shutdowns in Eastern Canada.
Source: Madison’s Lumber Reporter and Forest Products Weekly Prices
Building Links Construction Reports and Statistics: The weekly #1 construction projects resource for 27 years. New and updated projects, permits, tenders, and industry connections for Vancouver Island – Central North, West Coast and Powell River. Helping you build connections so you can build communities! Where are you getting your information from? Support local trades – Subscribe Now!
