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In 2018, overseas supply of softwood lumber to the US reached a 11-year high
Hakan Ekstrom
With forest product imports from the US deteriorating and American wood product exporters losing market shares in the Chinese market, imports from other countries, including Canada and Russia, have fallen less or even expanded the past year.
Hakan Ekstrom
With the tight wood fiber supply in the US South, wood chip and pulplog prices in the 1Q/19 reached their highest levels in almost seven years in both in the South Central and Southeastern states.
Hakan Ekstrom
Demand for imported pellets in Japan and South Korea continued a three-year growth trend to reach record highs in the 4Q/18.
Hakan Ekstrom
In late 2018, gross margins for sawmills in North America fell while they were fairly stable in Europe and Russia.
Hakan Ekstrom
Pulpmills in some of the major hardwood pulp-producing regions in the world, including China, Finland, Indonesia and Spain, have seen their fiber costs go up between 10-30% the past two years.
Håkan Ekström
New Zealand has increased its market share from 30% to 44% of the total softwood log imports to China in just three years. While Canada and Russia have reduced log shipments the past few years, other smaller log suppliers including Japan, Poland, Chile and South Africa have expanded shipments.
Hakan Ekstrom
US lumber prices have gone through a historical roller-coaster ride over the past 12 months, falling 33% from June 2018 to January 2018.
Hakan Ekstrom
The limited price improvements over the past few years, oversupply of pine pulplogs, and potentially more attractive land-use alternatives in the agricultural sector, have led some landowners in Brazil to choose to plant agricultural crops rather than trees
Hakan Ekstrom
A gloomier outlook by Chinese consumers and a shortage of credits for many provincial governments and state-run firms have contributed to reduced demand for forest products
Hakan Ekstrom
Shipments of hardwood chips from Australia, the second largest chip supplier to China, have also increased over the past year but at a much more modest pace than shipments from Vietnam.
Hakan Ekstrom
Wood chip prices in western Canada and western US have gone up 25% from 3Q/17 to 3Q/18, the biggest in crease in North America.
Hakan Ekstrom
The timber harvests on public lands in British Columbia are set to decline over the next decade and uncertainty surrounds log availability in the eastern provinces.
Håkan Ekström
Sawlog prices in Russia and Eastern Europe have fallen in 2018 following a year of increases.
Håkan Ekström
The Global Softwood Fiber Price Index fell in the 2Q/18 but was still almost 8% higher the in the 2Q/17.
Hakan Ekstrom
Chinese importers have gradually shifted their historical preference for logs away from the Russian Federation towards New Zealand and instead are importing softwood lumber from their forest-rich neighbor in the north.
Håkan Ekström
• Softwood lumber prices were substantially higher in North America, Europe and China in the 2Q/18 as compared to the same quarter in 2017.
Hakan Ekstrom
Gross margins for sawmills in the Nordic countries were close to the highest they have been in over four years in the 2Q/18, while they reached levels not seen in more than a decade in other parts of Europe
Håkan Ekström
Softwood and hardwood log imports to Sweden up 25% and 70%, respectively in early 2018 as compared to early 2017.
Hakan Ekstrom
The US Pellet Feedstock Price Index fell 3.0% from 1Q/17 to 1Q/18 because of lower usage of costly roundwood
Hakan Ekstrom
The Global Hardwood Fiber Price Index reached the highest level in three years in the 1Q/18
Hakan Ekstrom
It is expected that US softwood lumber supply sources will shift to meet future increase in US lumber demand. Factors influencing these shifts include changes in availability of timber supply, prices of sawlogs, competitiveness of lumber producers, exchange rates and developments in alternative markets for lumber producers in Canada and overseas.
Hakan Ekstrom
• After softwood lumber consumption in the US reached a ten-year high in 2017, demand fell in early 2018. Despite the reduced consumption, lumber production on the US west coast jumped by over nine percent y-o-y in the 1Q/18 thanks to strong demand for lumber from China during the past year.
Hakan Ekstrom
Tights fiber supply in British Columbia and the US Northwest pushed chip prices up over 12% in the 1Q/18
Håkan Ekström
Lumber imports from Russia to China has doubled the past five years, while North American supply has been in decline.
Hakan Ekstrom
Changes in availability of timber supply, prices of sawlogs, competitiveness of lumber producers are some factors that are likely to shift future lumber supply sources to meet higher demand in the US.
Hakan Ekstrom
By far the biggest sawlog price increases in Europe in 2017 (in Euro-terms), was in Eastern Europe, where demand for sawlogs increased as lumber production rose.
Hakan Ekstrom
Strong demand and tight supply of wood fiber in Sweden resulted in increased wood chip imports in late 2017
Hakan Ekstrom
The Global Softwood Fiber Price Index (SFPI) increased 4.0% during 2017 mainly because of higher pulpwood prices in Western North America, Europe, Russia and Australia
Hakan Ekstrom
US softwood lumber consumption likely to reach record high by 2030 resulting in higher imports from Europe and Latin America
Hakan Ekstrom
Global softwood lumber trade reached an all-time high in 2017 during the 1H/17 and lumber prices have continued to move upward in most men markets around the world.
Hakan Ekstrom
Changes in availability of timber resources and forecasted increases in wood raw-material costs for sawmills around the world are likely to impact the trade of softwood lumber to the US in the future.
Hakan Ekstrom
The Global Sawlog Price Index (GSPI) has gone up for three consecutive quarter to reach a three-year high in the 3Q/17
Hakan Ekstrom
The Russian sawmilling sector continues to add capacity in Siberia and the Far East, targeting the expanding demand for lumber in China. Just during the first eight months of this year, Russia increased shipments to China by 23% as compared to the same period in 2016. Although Russian lumber prices have not changed much in Ruble terms over the past two years, there has been a steady increase in export prices as measured in US dollars.
Hakan Ekstrom
The increased competition for small-diameter logs has resulted in a dwindling supply of traditional pulplogs normally available for pulpmills
Hakan Ekstrom
The biggest increases in chip supply to Japan and China year-over-year have been from Chile and Indonesia.
Hakan Ekstrom
With price premiums surging in the export market, Australia's log exports reach record levels in 2017.
Hakan Ekstrom
Production cost margin for sawmills in the US South increased during much of 2016 and 2017 and reached its second highest level in 13 years in the 2Q/17.
Hakan Ekstrom
Hakan Ekstrom
In Finland, Russian and Brazil log costs have gone up faster than lumber prices resulting in reduce profit margins the past 18 months.
Lumber prices in both the US and Canada have trended upward for almost two years and reached 13-year highs in July. One exception has been pine lumber prices in the US South, which have fallen the past few months to the lowest level seen in almost a year.
Hakan Ekstrom
Hakan Ekstrom
Wood fiber costs for Nordic pulp mills were at their lowest level in over ten year in early 2017
There are expectations that sawlog prices may continue to go up in the coming months because of improved opportunities for Brazilian exporters of lumber, plywood and value-added products.
Hakan Ekstrom
Lower log and sawdust prices in the US South have resulted in a 15% decline of the Pellet Feedstock Price Index since 2013
Hakan Ekstrom
Although lumber production in New Zealand has increased the past three years, export volumes have fallen 15%.
Hakan Ekstrom
Lumber shipments from New Zealand to the US have gone up 37% the past four years and can be expected to increase in the future.
Hakan Ekstrom
The wood cost is often the major factor determining a pulp mill's competitiveness. In 2016 and early 2017, these costs fell in the US, with prices for wood chips and pulplogs declining more in the West than in the South.
Hakan Ekstrom
Consumption of pellets in Japan and South Korea has increased quite rapidly the past four years because of new government requirements which favor reducing carbon emissions and increasing the usage of renewable energy.
Hakan Ekstrom
Prices for imported softwood lumber to China have been in a steady upward trend during 2016 and 2017 with the average import price in March 2017 being 13% higher than 18 months earlier.
Hakan Ekstrom
High import tariffs on Canadian softwood lumber will increase overseas imports but Canada will remain the largest and most important supplier of lumber to the US housing market
Hakan Ekstrom
High supply of sawmills chips in Quebec and Ontario may force lumber companies to export chips outside the country
Hakan Ekstrom
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Sawlog supply in US South tightening and a surplus of small logs and residues creates opportunities for pulp and wood pellet expansion

The US South’s softwood industry has enormous potential for a variety of reasons. The region has a significant forest resource with room for expansion, low and stable wood costs, and a thriving lumber and pellet manufacturing sector. The local forest industry is set to grow in the coming years and play a more prominent role in regional and global forest product markets. This expansion will lead to a tighter log market, but growth will still exceed harvests (drain) in most states. Longer-term, the drain could overtake growth in some states unless the productive forest area expands, harvest

The large softwood timber surplus in the US South is likely to diminish over the next decade, resulting in regional increases in sawlog prices

The US South softwood timber resource is significant, cost-competitive, and increasingly crucial for the global supply of several forest products. In 2020, an estimated 12% of the world's conifer timber harvest was in this region. A large softwood timber inventory has built up in the southern US over the past 15 years. In 2000, timber harvests almost equaled net growth, but during the housing crisis and great recession in 2007-2009, lumber production, sawlog demand, and log removals fell sharply, leading to increased softwood timber inventory. Over the past decade, softwood sawlog demand

Sawmills in the Nordic countries had some of the lowest sawlog costs globally in the 3Q/21

Record-high lumber prices in North America and Europe have moved both demand and sawlog values to some of the highest levels seen since WRQ started tracking sawlog markets in 1995. In their local currencies, log prices in the Nordic countries, the Baltic States, Central Europe, Western Canada, and the Western US were high in the 3Q/21. Sawmills in Latvia, Estonia, the Czech Republic, Austria, and Germany have become some of the highest-cost lumber manufacturers globally after sawlog costs surged by 60% to 95% in one year, reports the WRQ. Log costs have also gone up in the principal

Log costs for sawmills in the US South are among the lowest in the world and have been consistently low for over a decade

The forest industry in the US South has attracted increased interest and investment over the past few years. This relatively newfound attention is a result of the region's competitive advantage over many countries worldwide. The benefits come primarily from the region's surplus of timber supply, efficient infrastructure, and low wood costs. The population of the southern states is also growing faster than elsewhere in the US; thus, demand for most forest products is expected to increase as consumers purchase houses, buy new furniture, remodel their homes, etc. A new Focus Report from

Higher log demand from sawmills in Europe and North America moved the GSPI sawlog price index to a seven-year high in the 2Q/21

Softwood sawlog prices have gone up in 21 of 22 regions worldwide in the past year, as tracked by the WRQ. By far the most significant increases have occurred throughout Europe and British Columbia. In the 2Q/21, average sawlog prices were 60-70% higher y-o-y in Eastern and Central Europe, driven by the increased competition for logs by the sawmills throughout the continent. In the past year, lumber producers in Latvia, the CzechRepublic, and Poland experienced the most significant cost increases for wood raw-material. As a result of the worldwide rise in log costs, the Global Sawlog

The Global Sawlog Price Index rose 8% in the 4Q/20 as demand for logs was up in North America and Europe

Both of the WRI’s sawlog price indices (Global and European) jumped 8% q-o-q in the 4Q/20 as log prices increased worldwide. Demand for logs improved when lumber consumption increased in the second half of 2020, particularly in the United States, the United Kingdom, South Korea, and the MENA region. In Europe, the lumber market was generally flat, with only minor changes in domestic demand. However, European countries with high levels of lumber exports to non-European countries were in luck. Record setting lumber prices in the US helped drive increased shipments to higher levels y-o-y than

The GSPI sawlog price index rose 2.9% in the 3Q/20, reversing its two-year decline

Strong lumber sales and a weakening US dollar moved sawlog prices upward in many markets worldwide in the 3Q/20. The most significant price increases occurred in Western US, Northern and Eastern Europe, and Oceania. Only sawmills in the US South, Russia, Germany, and Chile experienced minor reductions in sawlog costs q-o-q. Following a two-year decline, the Global Sawlog Price Index (GSPI) increased in the 3Q/20 by 2.9% from the previous quarter, according to the WRQ. The current GSPI is still the second lowest it has been in four years, and is 4.1% lower than the Index’s 25 year average

WRI’s global and European sawlog price indices have both fallen over the past two years as sawlog prices have moved downward in most countries worldwide

Wood raw-material costs for many lumber producers in Europe and North America have fallen over the past year both because of increased timber harvests and reduced log demand, particularly in North America and Asia. Some of the biggest price changes in the 1H/19 have been seen in the Western US, Central Europe and New Zealand.Seattle, USA. The Global Sawlog Price Index (GSPI) fell for the fifth consecutive quarter in the 2Q/19, reaching a two-year low. Log prices were down on all continents, with the biggest declines occurring in Europe, according to the Wood Resource Quarterly. Plentiful

Sawlog prices fell on all continents except North America in the 2Q/18, resulting in the first decline of the GSPI price index since early 2016

Lower sawlog prices in Russia, Brazil and Eastern Europe in the 2Q/18 contributed in a one percent decline in the Global Sawlog Price Index (GSPI) from the previous quarter, reports the Wood Resource Quarterly. In contrast, Western North America and the Baltic States have seen sawlog prices go up the most worldwide the past year.Seattle, USA.The Global Sawlog Price Index (GSPI) fell by 1.4% from the 1Q/18 to the 2Q/18. This was the first quarter-over-quarter decline since the 4Q/16. Sawlog prices fell on all continents (in US dollar terms) except for North America, where prices in the 2Q/18

The Global Sawlog Price Index increased by 9.8% in 2017, with the biggest increases in sawlog prices occurring in Europe and Western North America

The Global Sawlog Price Index (GSPI) increased substantially, driven by strengthening lumber markets in both the US and Europe, reports the Wood Resource Quarterly. The Euro-based ESPI sawlog price index fell in the 4Q/17 after reaching a two-year peak in the 3Q/17.Seattle, USA. In the 4Q/17, the Global Sawlog Price Index (GSPI) rose one percent from the previous quarter to reach just over $76/m3. This was the fourth consecutive quarter-over-quarter rise, with the GSPI being up 9.8 percent in one year. Sawlog prices have gone up universally in US dollar terms in 2017, with the biggest

Global sawlog prices were higher throughout the world in the 3Q/17 and are likely to continue upward into 2018 because of strong demand for lumber

The Global Sawlog Price Index (GSPI) was up 5.1% from the 2Q/17 to the 3Q/17, with the biggest price increases occurring in Europe and Oceania, according to the latest issue of the Wood Resource Quarterly. The Euro-based ESPI sawlog price index has gone up at a slower rate than the GSPI the past year.Seattle, USA. Sawlog prices were up in most regions of the world in the 3Q/17. The price increases from the 2Q/17 were generally smaller in local currencies than in US dollar terms because of the weakening US dollar. In US dollar terms, quarter-to-quarter prices were up the most in Europe (+7.9%

European sawlog prices continued their downward trend in late 2016, resulting in a decline of the ESPI Index by 6.6% over the course of two years

Sawlog prices have fallen faster in Europe than in the rest of the world for the past two years but are still higher than in North America, Oceania and Latin America reports the Wood Resource Quarterly. The discrepancy between the global and European sawlog price indices reached its lowest level since 2006.Seattle, USA. Sawlog prices in Europe have been trending downward over the past three years from their record high levels in 2014. The biggest price drops have occurred in the Nordic countries and in Central Europe, while the log costs have fallen slightly less for sawmills in Eastern

The European Sawlog Price Index reached its lowest level in six years because of lower lumber demand and reduced log export prices

Declining demand and prices for softwood lumber, together with reduced log trade have resulted in lower sawlog prices in Europe over the past two years with the ESPI sawlog prices index reaching its lowest point since 2010, according to the Wood Resource Quarterly.Seattle, USA. Over the past two years, sawlog prices have fallen more in Europe than in any other region of the world. In the 3Q/16, the European Sawlog Price Index (ESPI-€) was down a modest 0.5% from the previous quarter to €83.40/m3. The Index has trended downward for the past few years and in 2016 has been at its lowest level

Sawlog prices have trended downward throughout the world over the past two years with the GSPI Index being 14.3% lower in the 3Q/16 than in the 3Q/14

The GSPI sawlog price index fell again in the 3Q/16 and was 21% below its all-time high five years ago, as reported in the Wood Resource Quarterly. Over the past two years, sawlog prices have fallen far more in Europe than in North America, where prices have only seen a modest decline.Seattle, USA. Global sawlogs prices fell in the 3Q/16 after a temporary increase in the 2Q/16 following an almost two year-long downward trend. The Global Sawlog Price Index (GSPI) has fallen by 14.3% in two years and is currently almost 12% below the ten-year average and 21% down from the all-time high in the

Timber harvests in the US have increased by ten percent from 2011 to 2015 due to higher production of pellets, softwood lumber and hardwood lumber

Higher lumber production and a rapid expansion of the wood pellet sector has resulted in an increase in timber harvests in the US the past five years, according to the latest Wood Resource Quarterly. Shipments of logs to Asia from the west coast fell 33% from 2013 to 2015, while the US South log exports have gone up, albeit from a very low level.Seattle, USA. According to official statistics, the US timber harvests were practically the same in 2015 as in 2011, coming in at 355 million m3. This appears to be quite low considering the log demand by the US forest industry. Analysis by Wood

The global timber price index GSPI was up 4.2% in the 2Q/16 after having fallen to the lowest level since 2009 in early 2016

Higher sawlog prices in Russia, Brazil, Germany and British Columbia in the 2Q/16 contributed to the first increase of the GSPI sawlog price index in over two year, reports the Wood Resource Quarterly. An increase in lumber demand and slightly higher log trade than last year have put upward price pressure on softwood sawlogs in most major markets of the world this year.Seattle, USA. The Global Sawlog Price Index (GSPI) was up 4.2% in the 2Q/16 to US$71.18/m3, the highest quarter-over-quarter increase since the 2Q/11. Sawlog prices increased in 16 of the 19 regions tracked by the Wood

Sawlog prices in Austria and Germany have fallen to their lowest levels in 10 years and both countries are still major log importers

Prices for domestic and imported sawlogs in Austria and Germany have falling during 2015 and 2016 to levels not seen in ten year, reports the Wood Resource Quarterly. While domestic log prices have declined, they are still among the highest in Europe and many sawmills in the two countries have increased importation of lower cost sawlogs from neighboring countries the past few years.Seattle, USA. Softwood sawlog prices in both Austria and Germany have been in steady decline for about two years and in the 1Q/16 they reached their lowest level since 2006 (in US dollar terms), according to

European sawlog prices have fallen over nine percent in two years with the biggest declines occurring in Austria, Germany and the Czech Republic

The European Sawlog Price Index (ESPI) has fallen for eight consecutive quarters to reach its lowest level since 2010, according to the Wood Resource Quarterly. The biggest price declines have occurred in Central Europe. Despite substantial reductions in domestic log costs for sawmills in Austria and Germany, both countries continue to import large volumes of low cost sawlogs from neighboring countries.Seattle, USA. Sawlog prices have trended downward in most European countries in both US dollars terms and in the local currencies over the past two years. The European Sawlog Price Index (

Weaker lumber markets and a strengthening US dollar have pushed the GSPI Price Index down almost 22% in two years

Sharp reductions of sawlog prices occurred in Russia, Brazil, Central Europe and Western Canada in 2015 because of weaker currencies, less demand for lumber and reduced trade of logs, reports the Wood Resource Quarterly. European sawlog prices have fallen faster than prices in most other regions of the world.Seattle, USA. The Global Sawlog Price Index (GSPI) continued its two-year decline in the 4Q/15 when the Index fell another 4.8% quarter-over-quarter, as reported in the Wood Resource Quarterly. In just two years, the GSPI has fallen 21.6% both because of a strengthening US dollar and

Trade of logs in Baltic Sea region fell 10% in 2015 because of substantially lower demand for softwood pulplogs in Finland and Sweden

After reaching a record high in 2014, log trade in the Baltic Sea fell by 10% in 2015. Most of the decline was that of softwood pulplogs, while trade of sawlogs actually increased to reach its highest level since 2007, according to the Wood Resource Quarterly. Russia has been surpassed by the Baltic States as the major softwood log supply region.Seattle, USA. The forest industry in the Baltic Sea region has for many decades imported large volumes of wood raw-material from their neighboring countries as a complement to their typically less costly local wood sources. For example, pulp mills

The Global Sawlog Price Index (GSPI) fell in the 2Q/15 to its lowest level in six years, reports the Wood Resource Quarterly

Sawlog prices have fallen by 15-20% in a majority of the countries manufacturing softwood lumber the past 12 months, according to the Wood Resource Quarterly. In North America, prices were down only seven percent because of healthy US domestic lumber demand and respectable log export volumes from both the US and Canada.Seattle, USA. Sawlog prices fell again in the 2Q/15 in most of the 19 regions worldwide that are part of the Global Sawlog Price Index (GSPI). The only regions where prices increased were in Northwest Russia and the Interior of British Columbia. The GSPI fell 1.5% to $72.63/

Sawlog prices declined in many countries during 2014 and the GSPI price index in the 4Q/14 was at the lowest level in two years

For the third consecutive quarter, the GSPI price index fell in the 4Q/2014 to the lowest level in two years, reports the Wood Resource Quarterly. The biggest price declines the past year have occurred in Europe, Latin America and Oceania, while prices in North America have remained stable thanks to healthy domestic demand for lumber.Seattle, USA. Sawlog prices were generally lower throughout the world both in the local currencies and in US dollar terms in the 4Q/14 as compared to earlier in the year. The Global Sawlog Price Index (GSPI) fell for the third consecutive quarter to $83.12/m3,

Sawlog prices fell worldwide in the 3Q with the biggest declines seen in Europe

The Global Sawlog Price Index (GSPI), an index based on sawlog prices in 20 key regions around the world, fell 4.6% in the 3Q/14. The major factors for the reduced sawlog prices were the strengthening of the US dollar and weaker demand for lumber in some countries, according to the Wood Resource Quarterly. The biggest price declines occurred in Russia, Western Canada, Sweden and the Czech Republic.Seattle, USA. Sawlog prices were lower in the 3Q in most of the 20 regions that are the basis for the Global Sawlog Price Index (GSPI). The Index fell by 4.6% from the 2Q to $85.56/m3, with the

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