{"id":87013,"date":"2023-11-21T08:00:06","date_gmt":"2023-11-21T08:00:06","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/lumber-more-expensive-on-the-world-market-prospects-for-wood-prices\/"},"modified":"2025-09-18T17:27:08","modified_gmt":"2025-09-18T17:27:08","slug":"lumber-more-expensive-on-the-world-market-prospects-for-wood-prices","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/lumber-more-expensive-on-the-world-market-prospects-for-wood-prices\/","title":{"rendered":"Lumber more expensive on the world market \u2013 prospects for wood prices"},"content":{"rendered":"

Wood prices are rising steeply on global markets. At least when you look at the price outlook for the next few months and the US housing market. This could mean a significant increase in exports for Germany and Europe. And also rising prices.<\/span><\/p>\n

Lumber prices have stabilized around $500 per 1,000 board feet in early November after hitting a three-month high on November 9th. Wood prices on the futures markets will continue to rise steeply in the coming months.<\/p>\n

In January it was trading at USD 530 and by autumn 2024 an increase to USD 570 per 1,000 board feet is expected. The price increase is triggered by expectations of higher demand for US real estate in 2024. The latest data showed that housing starts in the US rose 7% month-on-month to 1.36 million in September 2023.<\/p>\n

This important market indicator for the US lumber market is recovering significantly from the three-year low of 1.27 million in August. However, high mortgage interest rates continue to slow demand. At the same time, however, the tight supply from North American sawmills and lower imports of softwood lumber from Europe prevented a possible price decline in the third quarter.<\/p>\n

The better market development has not yet convinced all analysts. Lumber is expected to trade at $492\/1,000 board feet by the end of this quarter, according to Trading Economics macro models and analyst expectations. For the next 12 months, the models - completely contrary to the futures markets - only show a price of $431.<\/p>\n

Price prospects for 2024 significantly improved<\/strong><\/p>\n

On the futures market, lumber prices had fallen to $480 per 1,000 board feet (mbf) in mid-October, a decrease of almost $100 compared to August. Analysts blamed this mainly on the seasonal slowdown in construction activity . However, prices will rise significantly in the coming months and were recently quoted between 530 and 540 USD for January.<\/p>\n

The background is an increasing demand for lumber products to meet the increasing demand in the US housing sector. It is estimated that between 2012 and 2022 there was a gap of 6.4 million homes between single-family home construction and household formation in the United States.<\/p>\n

The dominant sawmills in British Columbia, Canada, saw a significant 60% decline in lumber production to 10 billion board feet in 2023 compared to 2006, report lumber market experts at Madison's Lumber.<\/p>\n

Prices are expected to rise as orders for wood products to meet U.S. housing demand pick up.<\/p>\n

However, according to one industry analyst the expected average price of around $400\/mbf in 2023 means that many sawmills have been operating at a loss for \"much, if not all, of the year\" as they break even -Price is $444 to $493 per thousand board feet.<\/p>\n

US housing market is picking up noticeably \u2013 despite high interest rates<\/strong><\/p>\n

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development released data on new home sales and home prices on October 25th. New home sales account for 10% of real estate activity and are considered a leading indicator of the housing market as they are recorded at contract signing.<\/p>\n

After a downward correction last month, U.S. new single-family home sales now continued their upward trend over the past year, rising more than +12% to 759,000 units in September 2023, from 676,000 in August. This is an increase of +40% compared to September 2022, when there were 567,000 units.<\/p>\n

The average sales price of a new home fell to $418,800 in September, down from $430,300. Despite increased mortgage rates averaging more than 7%, single-family home construction starts rose in September, reports the National Association of Home Builders , which says more buyers are turning to new homes because of a lack of inventory in the resale market.<\/p>\n

NAHB chief economist Robert Dietz said: \u201cDespite ongoing market challenges, the housing deficit continues to provide some market support for builders.\u201d And of course for lumber prices.<\/p>","protected":false},"excerpt":{"rendered":"

Wood prices are rising steeply on global markets. At least when you look at the price outlook for the next few months and the US housing market. This could mean a significant increase in exports for Germany and Europe. And … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":49943,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-87013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nLumber more expensive on the world market \u2013 prospects for wood prices - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/lumber-more-expensive-on-the-world-market-prospects-for-wood-prices\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lumber more expensive on the world market \u2013 prospects for wood prices - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"Wood prices are rising steeply on global markets. 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