Lumber Prices Soar on Tight Supply, Trade Tariffs
- Canadian rail constraints, strong housing help support market
- Lumber futures are up 66% in 12 months, boosting home costs
Ross Says U.S. Would Welcome New Canadian Lumber Proposal
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The lumber market is red-hot, with futures rising to another record on Tuesday thanks to a confluence of import tariffs, transport bottlenecks and strong housing demand.
The futures rose 1 percent to close at $619 per 1,000 board feet on the Chicago Board of Trade. They’ve surged 66 percent in the past 12 months, a bigger gain than any of the raw materials tracked by the Bloomberg Commodity Index.