Our website is made possible by displaying non-intrusive online advertisements to our visitors.
Please consider supporting us by disabling or pausing your ad blocker.
caused the
postponement of shipping schedule by both bulk carriers and container ships. There was no available bulk carrier
delivering our plywood to US in February and March 2022 while availability of container shipping was limited as
well.
From public internet source, i understand that america plywood price had at least double in 2021. However, their actual asp from annual report merely increased to usd628 from usd495 only. So, i think that unless u r an insider, u cant really estimate their actual asp, certainly not from lumber futures price.
In fact, i think the production volume plays a far bigger role in their profitability. Afterall, higher production volume = higher economic of scale = lower production cost per unit.
if u look at their annual report, u will notice that their highest asp in last 5 years was usd659 in 2018 but the lumber futures ranged from usd300 to 600 only.
But then, the america rv was selling like a hot cake in 2018, 2nd highest in the history. So, do the math.
In 2021, america rv sales broke another record again hence similar asp usd628.
since the 1st quarter rv sales this year broke another record qoq and the demand of rv is expected to remain high for the rest of the year, couple with rapid appreciation of usd, well, i leave the imagination to u...
Since the delayed goods worth about 10mil at cost, given 30-40% gross profit margin, i estimate the gross profit of these goods would be around 4-6mil without consider the latest exchange rate.
Btw, if my source of info is correct, the shipment is now back to normal since Feb. Given the 2-3 months lead time, the revenue of delayed goods shall be recognized in next quarter.