In the wake of Hurricane Harvey, prices increased. Now, with Hurricane Irma having blown over the United States (U.S.) weeks after Hurricane Harvey, plans and projects to rebuild are well underway, and lumber and plywood are experiencing a surge of pricing across the U.S.
“The reality is when a hurricane hits or is intended to hit landfall, there is a big surge in lumber prices due to speculative buying,” Mike Bertrand, owner of Lloyd Lumber, said to KEYC News 12 in an interview. He added that in a bid to prepare themselves for a tilt in demand and supply, lumber dealers would arrange speculative buying.
“It’s a global market, so supply and demand will dictate if a bunch of supplies are going to Texas or Florida,” he explained. “That will affect the pricing we pay.”
According to KEYC News 12, lumber and plywood prices are determined in the aftermath of the natural events. Thus far, Bertrand has observed a ten to 15 per cent increase of prices in lumber and plywood products – and the number, he says, may continue to go up.
But as of the present, the prices remain a waiting game until the impacts of both hurricanes have been fully evaluated.
Source: KEYC News 12