The global wood market is in deep trouble as wood prices continue to decline, with analysts predicting more significant drops. High interest rates, excess supply, and a struggling construction sector are the main drivers behind this downturn, leading to sawmill closures and bleak market forecasts. Wood prices plummet under supply pressure Lumber prices have been hit hard in September 2024, with futures on the U.S. market falling to around $490 per thousand board feet on September 11. This marks a 7% decline compared to mid-August and a 23% drop from the last peak in April. ...
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