木材价格在11月中旬达到615美元的八个月高点后,跌至每千板英尺600美元,反映出建筑材料需求前景疲软。美国建筑许可证延长了10月份的低迷期,从上个月的3.1%下降到每月0.6%。美国10月份的房屋开工率也下降了3.1%,低于预期,更广泛的趋势显示出持续的挑战,新房库存和抵押贷款利率接近7%。抵押贷款利率上升,目前为6.84%,进一步抑制了新的建筑活动,减少了对建筑材料的需求,并可能随着开发商之间竞争的减少而压低价格。这一上涨与反映市场日益变化的联邦基金期货相一致,随着持续的通货膨胀和经济实力的迹象加强了美联储鹰派立场的理由,预计下个月降息的投资者越来越少。
Lumber prices fell to $600 per thousand board feet after reaching an eight-month high of $615 in mid-November, reflecting a softened demand outlook for construction materials. US building permits extended their downturn in October dropping by a monthly 0.6%, from the previous month’s 3.1% decline. Housing starts in the U.S. also fell 3.1% in October, below expectations, with the broader trend showing continued challenges, with rising new home inventory and mortgage rates nearing 7%. Rising mortgage rates, now at 6.84%, are further dampening new construction activity, reducing demand for building materials, and potentially driving prices down as competition among developers decreases. This rise aligns with Fed Funds futures reflecting a growing market shift, with fewer investors expecting a rate cut next month, as persistent inflation and signs of economic strength reinforce the case for a hawkish Federal Reserve stance.