Brisk Red Oak Sales Driving Prices Higher
New York, NY, Oct. 15, 2013 -- Red oak sales and selling prices have been increasing rapidly in recent weeks in all regions, driven largely by exports and demand from domestic flooring plants, according to Woodworking Network.
Overseas buyers, especially in China, purchased all grades of red oak in large quantities, which is straining thin supplies, according to the report.
Some flooring manufacturers indicated that they had enough raw material, but others appear to be buying aggressively, keeping red oak for flooring moving at a brisk pace.
According to the Woodworking story, one Appalachian seller guessed that 30% of the recent red oak price increases were due to demand and 70% to supply.