a picture of a construction site with a building being assembled with Structural Panels Isowall panels

Commodity Prices Reach ‘Extraordinary’ Levels as Lumber Rises to New Heights

Commodity prices have risen to record highs over the past years, which has caused a number of price escalations across the building industry. At the top of the list is lumber, which has been in heavy demand as of late, both in construction, renovation, and the resale market.

At the beginning of the pandemic, there was a drop in commodity prices in April, but this didn’t last long. By May, there was already a surge and that surge has held strong. We’ll look at why it might be time for business owners to switch strategies if they’re constructing or renovating this year, and how products like Isowall panels provide an insulated barrier that is both quickly installed and reliable under pressure.

The Public’s Obsession with Space

Lately, everyone’s been looking at what kind of space they have and comparing it to what kind of space they want. For businesses, it’s become critical to use their square footage efficiently or risk alienating their customers. It’s not easy to make a change though, particularly when skilled workers and commodities are in short supply.

It’s not just higher prices that are interfering with timelines but also supply chain disruptions that are making it difficult to plan ahead. The imbalance is impacting everyone involved, from the suppliers to the property owners.

Steel, Fixtures, Appliances Etc.

It’s not only lumber that’s seen an increase. The property industry is beset with rising prices across the board, including plumbing fixtures, windows, electrical materials, and oriented strand board. This isn’t new to a certain extent, as the market has seen challenges with supply for the past decade or so.

However, the rise in the past year has become unmanageable in many parts of the US and Canada. As owners get ready to welcome customers back to their establishments or get employees back up and running, their budget can’t always accommodate the extreme demand the market is experiencing right now.

Business owners who don’t want to compromise their original vision may have to think outside standard commodities. Small coolers, demising walls, large commercial buildings: Isowall panels are designed to be versatile, able to be scaled for nearly any building project.

Price Predictions for Lumber

Lumber prices are expected to stay elevated for the rest of the second quarter. However, while they’re expected to decline once the third quarter rolls around, commercial businesses should not expect them to hit pre-pandemic levels anytime soon.

This is why it’s so important for commercial owners to have all the options in front of them before they start a building project. Isowall Panels are made from an Expanded PolyStyrene (EPS) form core that is enforced by laminated sheet steel on both sides. The bonding process makes for a strong wall (ceiling, partition, etc.) that can be used in even the most industrial environments.

Isowall Panels for Your Project

When commodity prices rise, Isowall panels can support your project and provide the insulation you need to cut back on energy bills — without forcing you to cut back. Quality materials and straightforward design make for easy installation, which can help you hit even the tightest deadline. To learn more about Isowall, contact Structural Panels Inc. to see what we can do.