[Asia Economy Reporter Park So-yeon] Seongchang Enterprise Holdings, which exports lumber, is showing strong performance in early trading as lumber prices in the North American region soar to unprecedented heights.
As of 10:39 AM on the 17th, Seongchang Enterprise Holdings is trading at 2,410 KRW, up 110 KRW (4.78%) from the previous day.
Seongchang Enterprise Holdings is the holding company of Seongchang Enterprise Co., Ltd. and Seongchang Board Co., Ltd.
Recently, lumber prices in North America have surged sharply. This is because people confined at home due to COVID-19 have been considering home renovations, greatly increasing the demand for lumber. This phenomenon is unusual as it occurs during winter, a season when lumber typically does not sell well.
The Framing Lumber Composite Price, announced weekly by Random Lengths, a company providing lumber market price information in North America, recently rose to $966 per 1,000 board feet (1TBF), surpassing the previous all-time high of $955 recorded in September last year.
Random Lengths explained that there is a shortage of lumber supply for new construction, with sawmills having orders backed up through March.
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