U.S. lumber prices are rising, thanks to an increase in home building.
Futures contracts for the resource for a March delivery are $380 per 1,000 board ft, after nearing $400 in late December, reports ft.com. This is the highest since mid-2005, before the housing downturn. Read more.
For Canada, an increase in U.S. home building is good news for producers that export lumber, base metals, and other resources.
Read: U.S. housing surge will help Canada
Also read:
U.S. housing boom to power B.C. exports
Canada’s banks predict soft landing for housing