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Wood is the most popular commodity! Americans are rushing across the Atlantic to Europe

via:驱动之家     time:2021/5/12 21:19:01     readed:138

What are the commodities that have gained the most in the past year?

Some people in the industry have listed a list of the growth of major international commodities in the past year as of the end of last week. Among them, gold is at the bottom of the increase, while timber futures is at the top of the list. In fact, if we don't subdivide whether the final unit is ounces or thousand board feet, the price of timber futures has gradually approached the price of gold.


CME timber futures closed at $1544 on Tuesday, breaking through $1700 per thousand board feet on Monday.As timber prices continue to lead commodities, its ratio to the CRB commodity index has exceeded 8 for the first time.


At present, looking at the world, Europe has become the only few areas with wood surplus in the world.A large number of local beetles lead to large areas of forests to be cut down, which just meets the demand of American timber importers. Although the current shortage of international shipping and trucks in the US stock market still limits the capacity of the supply chain.

According to the overseas Bureau of the U.S. Department of agriculture, the amount of timber imported from Europe by the United States reached a record high last year, almost three times that of 2019. In the first three months of this year, it continued to maintain strong growth, up 37% compared with the same period last year.

In terms of countries, Sweden is the most obvious growth area in Europe, and the US timber imports from Sweden increased by 1300%.

U.S. timber importers are doing so well today because their purchasing power is enhanced by the willingness of home builders to pay higher prices, because project costs sometimes rise by the hour.

Bpwood is a timber trading company located in British Columbia, Canada, one of the major timber producing regions in North America. Paul Bouchard, the company's chief executive, said his company's timber imports from Europe have increased tenfold this year compared with the same period last year. He also said delivery could be delayed by one to two months due to strong demand in the United States.




Link to the original text:Financial Association

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