Surging Raw Material Prices Could Swing Hard In The Other Direction—Historical Precedents Show
Surging global prices of raw materials are one of the most prominent features of the pandemic. Supply shortages, as well as changes in demand, led to strong upward pressures in prices. For example, lumber jumped from $300-$400 pre-pandemic to a high of $1544. Just recently, a hot housing market pushed lumber prices back above $1000.…