US lumber prices rose by 20% in mid-July. Before that, lumber prices had fallen to their lowest level in one and a half years. The price increase was triggered by significantly more housing starts in the USA and falling mortgage interest rates. US lumber prices rose above US$500 per 1,000 board feet at times this week, recovering from a one-and-a-half-year low of US$419 on July 15 (see chart). This represents a huge jump in global lumber prices of almost 20% in just a few days. The price rally was triggered ...
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