Good news !
The massive price increase seen earlier this year in the USA is no more.
USA demand affects worldwide timber prices. The slowing demand is allowing pricing to come back down to more sane levels.
While it will take a number of months for the effect to be felt in South Africa – probably only later in 2021 – this is nevertheless good news.
The following information from Trading Economics.
Lumber futures fell below $500 per thousand board feet, the lowest since July 2020 as demand continues to slow while mill production has rebounded as the labor-related issues from COVID dissipate. Vaccinated Americans started to travel and book holidays as more businesses and activities reopen instead of spending on home renovations. Lumber prices jumped more than 500% between April 2020 and May 2021 to hit an all-time high of almost $1,700 on May 7th, as sawmills were unable to meet unexceptional demand for home building and DIY home improvements spurred by the coronavirus lockdowns.
Comalytics