Tornado damage still being tallied across the South
As a state of emergency is declared in North Carolina, homeowners and retailers are picking up the pieces after a destructive and deadly series of tornadoes.
According to news reports, 243 tornadoes were reported in 13 states in the past three days.
Video of the damage in Sanford, N.C., includes images of a ripped up Lowe’s store, where the managers were described as heroes on an ABC World News broadcast Sunday night. The managers were able to move about 70 customers to the back of the store and thus protect them from flying glass and debris during the daytime tornado. A Tractor Supply and Big Lots store in Sanford also received extensive damage.
Across the country, the severe storms killed at least 45 people.
Market Recap: RISI Crow’s Construction Materials Cost Index
A price index of lumber and panels used in actual construction for April 15, 2011
*Western – regional species perimeter foundation; Southern – regional species slab construction.
Crow’s Market Recap — A condensed recap of the market conditions for the major North American softwood lumber and panel products as reported in Crow’s Weekly Market Report.
LUMBER: Other than a brief blip Wednesday, in which wholesalers covered shorts on the back of a strong upward futures move, SPF sales activity at mills was dull and prices fell. With Southern Pine lumber prices trending lower and aiming at the historical lows posted in October last year, producers were more firm with quotes. Sales activity among Coastal Species was quiet again for yet another week, putting pressure on producers to hold quotes or curtail production due to high log costs. Falling SPF prices also placed greater downward pressure on Hem-Fir. Inland producers experienced a week of fairly steady sales and prices that slid between narrow spreads but generally held close to previous marks. The clash between weak U.S. demand and global alternatives continues to erode the supply base for both Radiata Pine lumber and imported finger joint mouldings. Ponderosa Pine boards remain best in #2 Common, although price increases seem for the moment to have abated. All items in #2 Common except 1×4 show good firmness; 1×4 remains questionable. Idaho White Pine prices remain at established levels, most of the production of the current run having been sold well in advance of its projected finishing date. Eastern White Pine is more active than it has been, but without any strong energy. Improved weather has helped this species, as has the reduction of available supplies of western species. Some modest increases in U.S. demand for Western Red Cedar were noted, but they were minor. Signs that customers in the Northeast and upper Midwest were more open to talking about buying, if not yet pulling the trigger, were a positive.
PANELS: Continued slow sales placed downward pressure on Western Fir plywood prices, as order files ran thin. Even quotes $20 below the prior week’s levels for CDX items attracted little attention from buyers. Demand for Southern Pine plywood was minimal, leaving producers’ rated sheathing prices negotiable or teetering on the end of order files still mired in the week of April 18. Although no clear floors were established in OSB prices, producers turned away the lowest of the counters they saw, even though most of them need orders. Even at that, some significant discounts took place. Canadian plywood shows some wide positional gaps among producers. Some have sales through May, while others are discounting. Particleboard and MDF markets are experiencing extremely low demand, which causes producers to scrap for every order and dip to very deeply discounted levels in order to write business.
Source: RISI’s Crow’s Weekly Market Report
Russian crime ring targets California Home Depots
Three Russian nationals suspected in a series of burglaries at Home Depot were arrested by the California Highway Patrol on April 13, according to an article in the Chico Enterprise Record.
Yeugeniy Ivakhov, 24, of Carmichael; Vlademir Ivakhov, 19, of Carmichael; and Andrey Gelis, 26, of North Highlands were taken into custody after they were stopped for a vehicle code violation in Marysville, Calif. The CHP officer allegedly found unopened boxes of merchandise from Home Depot in the trunk. The estimated value of the items was $1,600.
Upon further investigation, the men were identified as suspects in burglaries of other Home Depot stores in the area. Authorities said the men operated a theft ring where two of them ran out of stores with merchandise while the third waited in a getaway car.
One of the suspects, Gelis, has warrants for his arrest in Sonoma, Napa, San Joaquin and Monterey counties, according to police.