The commodity plywood market has seen some modest improvements over the past couple of weeks. Mills have been able to firm up and raise prices slightly, though it’s not a runaway just yet.
The Southern Yellow Pine (SYP) plywood sector is following a similar path, with gradual price increases and order files ranging from two to four weeks. Canadian plywood manufacturers are holding steady as well, with order files extending into September. OSB, on the other hand, remains relatively flat with only minor price adjustments across regions.
Low inventories, coupled with decent yet finite demand, have helped mills relieve some slack in the market. There seems to be a better balance between supply and demand, at least for now. Dimension lumber markets have also shown some upward momentum across most species in recent weeks, which could positively impact panel product markets.
Overall, buyer sentiment seems to have improved slightly. With the possibility of an interest rate cut in September, and perhaps more to follow, we may see more commercial and residential projects getting the green light. Any mortgage rate relief for homebuyers would be welcome news for our industry.
There’s a bit more confidence that these nearby market trends might hold. A few buyers are beginning to feel more comfortable purchasing two to three weeks out. Hopefully, the commodity markets are finding firmer ground. However, with the general election just a few months away, there’s still plenty of uncertainty. The next few months are sure to be interesting.
Subscribe
We’ll send you a notification when a new story has been posted. It’s the easiest way to stay in the know.