The destruction wrought by Hurricane Harvey, Irma and Maria has seen a slew of commodities prices go skyward. The most noted are lumber and gasoline. Perhaps the most poignant as we watch recocery as the mountains of sheetrock we see on curbs. The key commodity here is gypsum with its a price determined by a handful of players.
Lumber Futures in Perfect Storm Continue to Soar After Hurricane Harvey & Irma
Lumber futures are at 12 year highs after Hurricane Harvey and Irma. Prices have been rallying since the housing crash of 2008 and earlier this year the U.S. administration imposed tariffs on plywood coming from China and lumber coming from Canada. Wildfires across Canada and the western U.S. also pushed prices higher pre hurricanes.