May 5, 2010
Lumber Rises To Highest Price Since 2006 On Economic Outlook

Lumber rose to the highest price in more than three years as signs of rebounds in the U.S. economy and home-building industry fueled speculation that demand for wood products will increase.

U.S. factory production rose 0.9 percent in March, the Federal Reserve said today. Homebuilder bonds have climbed to levels reached before the global credit freeze, buoyed by investor confidence that the economy is strong enough to prevent defaults. Lumber prices that plunged in January 2009 to the lowest level since at least 1986 have jumped 67 percent in the past year.

“The industry is optimistic that demand will go up,” said Hakan Ekstrom, the president of Wood Resources in Bothell, Washington. “The general economic situation looks better than we’ve seen in a long time. That helped trigger lumber prices.”

Lumber futures for July delivery rose $6.60, or 2.1 percent, to $315.60 per 1,000 board feet on the Chicago Mercantile Exchange, after touching $318.10, the highest price for a most-active contract since May 19, 2006.

Suppliers of construction materials, including retailers Lowe’s Cos. and Home Depot Inc., may try to stock up on lumber to avoid shortages, Eckstrom said.

“Some buyers and end-users are nervous they won’t be able to get the volume they need as quickly as they need it,” Eckstrom said. “The general positive news about the economy has certainly helped.”

Source: Business Week, April 15, 2010

Next Article >>
New Address
Steel Framing Alliance
1140 Connecticut Avenue
Suite 705
Washington, D.C. 20036
Phone +202.785.2022
Fax +202.785.3856
Annual Mtg
Bowen Engineering Corp
Orlando, FL
CTS Engineering
Holladay, UT
CPK Building Ltd
Nicosia, Cyprus
Ridge Engineering LLC
North Plains, OR
Steel Built Corporation
Ambridge, PA
Houston, TX
United Structures
Cairo, GA

May 10, 2010
Changes to the North American Specification for the Design of Cold-formed Steel Structural Members Presentation
ChampionsGate, FL More


May 26-27, 2010
CFSEI Conference, Show, & Annual Meeting
Atlanta, GA More


June 16, 2010
2010 MASFA Expo/Trade Show
College Park, MD More


September 20-22, 2010
Steel Structures 2010 Culture & Sustainability International
Istanbul, Turkey More



Renew 2010 Member Dues | Unsubscribe

Brought to you by the Steel Framing Alliance (SFA) on the first Wednesday of each month, February through December. Framework Online arms you with important news and commentary on the cold-formed steel (CFS) framing and construction industries.