Lumber prices rise in U.S due to increased demand in housing construction

Posted on August 31, 2020

The increase in Canadian lumber demand and pricing is largely a result of accumulated demand from the COVID-19 pandemic.

Canadian lumber prices witnessed a substantial uptick, with a rise of $104 to reach $850 and $842 mfbm by August 21, 2020.

Notably, the standard softwood lumber benchmark, Western S-P-F 2x4 #2&Btr KD, saw a notable 14% price increase to US$850 mfbm, up from the previous week's US$746.