It was quietly busy in the eastern spruce lumber market yesterday. There seemed to be not much going on, but under the surface activity was vibrant. Buyers concentrated on any leftovers from secondaries or mill accumulations. Asking prices on these were noticeably less than current replacement, allowing for a fair number of orders to be transacted. There was also a growing concern that supply may even get tighter than previously thought, sparking some additional purchases. A belief that higher prices are here for a while also boosted confidence in buying.
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