When it comes to pricing, it’s important to distinguish betweendemand for lumber和木材产品的供应链。And because of the differing final uses of these products, the impacts can vary extensively.
The Impact of High Demand
As lockdowns and quarantines from the COVID-19 pandemic began to interrupt businesses last year, jobs were lost in the lumberindustry. Many former sawmill workers turned to do-it-yourself projects around their own houses and other undertakings.
Notably, demand for wood和price producers received for timberwere lower in 2020 than in 2019. Raw wood material consumption from January 2020 to July 2020 was 6.7% lower than the same period in 2019, representing a 13% reduction in value of the delivered wood, although this figure does not account for demand from August 2020 and forward.
The Impact of Supply Chain Disruptions
A key factor affecting lumber prices is the ownership of the land from where the timber is harvested. The timber supply chainis composed of many small forest landowners. Privately owned corporations, individuals, nonprofits, or other non-governmental groups own 63% of U.S. forests and woodlands.
The U.S. is a net importer of timber and wood products. As of 2017, Canada was the U.S.’s most significant source of timber imports, and China was the largest single U.S. timber export market. In addition, a portion of the wood produced and exported from the U.S. is processed into intermediate and finished products overseas, particularly in China, and imported back into the United States.
Wood products are highly traded commodities in world markets, and these supply chains are integrated across regions and trading partners to varying degrees; the disruption to these areas has also affected pricing.
考虑到所有的事情,直接或indirectly, including the pandemic, the disruptions to supply chains, the increase in demand, and the general uncertainty of the markets all played a role in pricing. There is no one trigger to zero in on when it comes to why the cost of lumber has escalated but rather the contribution of many factors operating all at once.
Forest2Market; American Logger’s Council, August 28, 2020; Oswalt Forest Resources
Lumber refers to a finished product produced from the harvested tree and timbers.
Wood refers to various unspecified products produced from the timbers.
Timber refers to actual trees harvested for production into lumber and other wood products; they are sometimes referred to as logs.
The timber supply chain is comprised of companies that gather and transport trees from the forest to sawmills for various lumber products.