Strong demand for wood products in Europe and North America boosted global lumber trade in 2021
STOCKHOLM, December 20, 2021 /PRNewswire/ —
- This year, strong demand for wood products in Europe and North America increased lumber trade in the first nine months of 2021 by around 3% year-on-year. In order of ranking, the exporting countries whose shipments increased the most are Finland, Canada, Germany, and the Czech Republic. Unsurprisingly, the countries with the largest increases in imports in 2021 have all been in Europe and the United States, where demand was high, while shipments to Asia and MENA declined as their construction sectors weakened this year.
- As of 3Q/21, overseas lumber imports we fell 13% q/q to 1.3 million m3. The decline follows a quarter in which volumes reached their highest level in 15 years, with most shipments coming from Europe. Germany has been the top supplier of foreign lumber to the United States for the past five years, with a market share of about 35%, according to the WRQ. The second and third largest suppliers to the United States were Sweden and Brazil. European import prices fell around 20% QoQ in 3Q/21 as US domestic prices plunged.
- Canadalumber exports fell around 13% qoq in 3Q/21 to less than nine million m3. In the spring of 2021, many sawmills in Western Canada shifted their overseas sales to the US market, mainly due to record lumber prices in the neighboring country. Therefore, exports to China fell more than 50% in the first nine months of 2021 compared to the previous year. Canadian export prices to the US in 2021 tracked US domestic prices with unprecedented price increases in the first half of the year, followed by a substantial decline in 3Q/21. Price for Asia– Bound lumber exports did not follow the US trend, but instead continued their upward movement during the fall.
- ChinaSoftwood lumber imports increased 3% quarter-on-quarter in Q3 2021, but were still significantly lower than in the same quarter last year. This year, the largest declines in imports have been recorded in shipments of Canada and Europe as exporters in both regions turned to the strong US lumber market. However, despite lower import demand, Chinese import prices in 3Q/21 hit their highest levels in at least 15 years, driven by rising lumber values in European and European markets. North American.
- Sweden is the largest exporter of timber Europe, shipping a record volume of 14 million m3 in 2020. In the first eight months of 2021, shipments fell by 6% year-on-year, mainly due to lower demand for wood in China, Egypt, and other MENA markets. Nevertheless, export volumes to the main markets of Europe have so far been higher in 2021 than they were last year. Sales value jumped 67% year-over-year and is on track to reach more than $5.0 billion (4.2 billion euros) for the whole year, reports the WRQ.
- Finland, the second largest lumber exporter in Europe, increased its shipments by 16% in 2021, mainly due to increased sales to European countries. On the other hand, shipments to China plunged 40% year-on-year, a notable change as China was once Finland bigger market.
Are you interested in the Global Wood Products Market? The Wood Resource Quarterly (WRQ) is a 75-page report compiled in 1988 and has subscribers in over 30 countries. Publication tracks prices for saw logs, pulpwood, lumber and pellets and reports on timber trade and market developments in most key regions of the world. For more information on the latest trends in the international forest products market, visit www.WoodPrices.com
International Wood Resources LLC
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
SOURCE Wood Resources International LLC