Industry Experts Highlight Acute Lumber Shortage in the U.S.

SEATTLE (Scrap Monster): According to prominent industry experts, several parts of the U.S. are being faced with acute lumber shortage. The disruptions induced by Covid-19 pandemic, coupled with devastating wildfires are being cited as the primary reasons for the shortage.

According to experts, the lockdown and subsequent closure of activities badly impacted industry activities. The new safety protocols led to reduced production at mills. The supply was cut further by a massive fire season last year. Meantime, the home remodelling witnessed huge spike, as many were stuck at their homes either due to quarantine or work-from-home culture that has become prevalent during the pandemic season. This resulted in pent-up demand for lumber, thus leading to shortage.

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The material prices surged significantly higher following the series of wildfire incidents along the U.S. West Coast. For instance, lumber prices skyrocketed by more than 170% during the five-month period from mid-April to mid-September in 2020. Although prices pulled back at the start of the fall, they have again started moving up. As per estimates, wildfires in Oregon alone have destroyed approximately 15 billion board feet of timber.

The curtailed mill production and consumption of available lumber has left the U.S. in an acute shortage of lumber.