COVID Container Shortages & Price Increases
Although lumber and raw material pricing may be adjusting, the container industry has not benefitted from such relief. Construction materials are manufactured locally in the US, and recovery from COVID shortages have quickly been corrected in most US manufactured goods. Containers however are solely built in the Asian markets. Since the COVID shutdowns, container manufactures have slow-rolled ramping up production in efforts to control pricing. Very similar tactic as to what OPEC will do to control the price of crude oil. Unfortunately analysts predict that the global container shortage will continue throughout 2022, and pricing adjustments to not be realized until there actual becomes a surplus of units.