The coronavirus crisis has severely unbalanced the supply and demand of raw materials for the production of durable goods. While manufacturers had to scale down production and inventories due to the pandemic, demand for furniture and other furnishings as well as construction and renovation materials for interiors and exteriors increased. In addition, unfavorable natural events such as extreme drought or damage caused by bark beetles have led to bottlenecks, especially in the recent past. Supply chains that had been interrupted or disrupted by lockdowns had to be successively reactivated. Further incidents like the Suez Canal traffic jam and the blockade of one of the world’s largest container ports in China worsened the situation.
As a result, commodity prices have almost exploded. On average, there have been price increases of 30 percent since the fall of 2020 and 20 percent since the beginning of the year – with peaks of 65 percent for secondary metal raw materials, for example. The strongest increase was recorded for wood, where the price in Germany doubled since September.
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