As often mentioned by Madison’s, panel prices — especially Plywood but also OSB — tend to lead movement in construction framing dimension softwood lumber prices. The graph below illustrates the sharp increase in panel prices through 2020 and in 2021 so far:
In the week ending March 19, 2021, the price of Canadian Softwood Plywood 9.5mm (or 3/8″) FOB Toronto was C$1,252 msf. This is up +$2 from the previous week when it was $1,250.
This week’s price is up by +$263, or +27%, from one month ago when it was $989. When compared to the same week last year, when it was $431, this week’s price is up by +$821, or +190%.
Compared to two years ago when it was $489, this week’s price is up by $+763, or +156%.
Meanwhile, in the week ending March 19, 2021, the price of Oriented Strand Board 7/16″ Ontario was C$1,425 msf.
This is up by +$25, or +2%, from the previous week when it was $1,400. This week’s price is up by +$248, or +21%, from one month ago when it was $1,177. When compared to the same week last year, when it was $400, this week’s price is up by +$1,025, or +256%.
Compared to two years ago when it was $265, this week’s price is up by +$1,160, or +438%.
Will upward price pressure maintain? New data coming out in 2021 will let us know.
Only time will tell! Subscribe to Madison’s Lumber Reporter today and receive this vital softwood lumber and panel price information on-time Friday mornings every week.