(Bloomberg) -- Plywood markets are rebounding, with benchmark prices surging by as much as 22%.
According to Kevin Mason, managing director of Vancouver-based ERA Forest Products Research, Western Fir plywood is up 14% from early May and Southern Yellow Pine plywood prices have gained 22% from their low in mid-April.
Supplies shrank after efforts to slow the coronavirus outbreak forced some North American producers to cut capacity just as people were buying more wood to fix up their homes during lockdowns, he said. Mason also said he believed demand gained in May as looting broke out in some parts of the U.S., prompting shop owners to buy plywood and board up storefronts.
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