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Plastic Prices Hit Record High to Stoke Inflation Concerns

Kevin Crowley, Bloomberg News Mar 18, 2021 (Bloomberg) -- For anyone looking or examples of inflation these days, raw materials are a good place to start. Copper, steel -- even lumber -- are either near or at record highs. And so too are plastics, which often are overlooked but are on a tear right now. Although they’re the building blocks of thousands of everyday products, plastics and their chemical ingredients don’t trade on major commodity exchanges, and large price moves are largely invisible to the wider world. Yet polyvinyl chloride, or PVC, is in the midst of a dramatic rally, driven by a combination of rebounding global consumer demand and production outages from last month’s Texas freeze. More than 60% of U.S. PVC is still offline nearly a month after freezing weather hit Texas and Louisiana and decimated the power grid, according to ICIS, a data provider. PVC is a major…

Cost of lumber skyrockets during pandemic

  Tyler FlemingMulti-Skilled Journalist @tylerflemingCTV Contact Published Tuesday, March 16, 2021 11:32AM EDT   OTTAWA -- The cost of lumber has skyrocketed during the pandemic. Whether it's building a backyard deck or fence, or framing interior walls for an addition or renovation, the cost will likely be double what it was last year. Initially, Roger Liddle planned for a huge 25-by-30-foot wooden deck in the backyard of his new home in Manotick Ont. Once the design was complete, Liddle priced it out. "The prices we looked at for the lumber last summer was quite reasonable," says Liddle. "If we had just bought the lumber and done the work ourselves the deck would have cost about $3,000 for the lumber itself." Today, that same lumber has more than doubled in price. Tim Priddle, co-owner of The Wood Source, says the cost will likely keep climbing throughout the spring and into summer. “The perfect…