Lumber
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US lumber prices surge as housing starts unexpectedly rise
US housing starts surged in February, with the upside surprise boosted by falling lumber prices in the month. Construction projects pushed through a period of rising mortgage rates. Lumber prices climbed Thursday to trade above $400 per thousand board feet Thursday. Data for February showed that new housing construction spiked unexpectedly in February, aided by falling lumber prices during the month while mortgage rates continued to tick higher. Lumber prices jumped Thursday following data showing housing starts on single-family and multi-family homes surged 9.8% last month to 1.45 million units on a seasonally adjusted annual rate, according to data from the Census Bureau. The result overshot median projections of 1.31 million units in a Bloomberg survey of economists. Lumber prices rose 5.8% to $438.60 per thousand board feet. The government's report showed a 24%... Continue reading
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March 20, 2023
Koskisen reports record result in 2022; lumber demand weakens
The Finnish sawmill group Koskinen achieved a record result last year. Turnover was close to 320 million euros, which is two percent more than the previous year. Operating profit rose to 58 million euros. The year 2022 was overall the best in the company's history, CEO Jukka Pahta says. "The record result further strengthens the company's self-sufficiency and financial position. This supports the implementation of already ongoing and decided investments and the implementation of the company's growth-oriented strategy," says Pahta in the press release. Koskinen is currently building a new wood processing unit in Järvela. The construction of the facility is progressing according to plans and it will be commissioned during the summer. The new unit will increase the production capacity of the group's sawmill industry from the current 300,000 cubic meters to 400,000 cubic... Continue reading
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March 20, 2023
US lumber prices surge as housing starts unexpectedly rise
US housing starts surged in February, with the upside surprise boosted by falling lumber prices in the month. Construction projects pushed through a period of rising mortgage rates. Lumber prices climbed Thursday to trade above $400 per thousand board feet Thursday. Data for February showed that new housing construction spiked unexpectedly in February, aided by falling lumber prices during the month while mortgage rates continued to tick higher. Lumber prices jumped Thursday following data showing housing starts on single-family and multi-family homes surged 9.8% last month to 1.45 million units on a seasonally adjusted annual rate, according to data from the Census Bureau. The result overshot median projections of 1.31 million units in a Bloomberg survey of economists. Lumber prices rose 5.8% to $438.60 per thousand board feet. The government's report showed a 24%... Continue reading
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February 13, 2023
Prospects for the global lumber markets remain low this year
A severe recession in 2022 replaced the COVID-19 pandemic in 2020 and 2021 as the main force disrupting trade and wreaking havoc across the global timber industry. The Russia-Ukraine conflict has exacerbated the confusion. Global timber traders have spent much of last year adjusting to trade sanctions against Russia by European and American countries and struggling through widespread uncertainty. Lumber price recovery based on global economy The prospect of prices and trading trends returning this year to be more in line with pre-pandemic historical patterns appears to depend largely on how the global economy succeeds in recovering from the downward spiral that has rattled most major consumer markets in 2022. Most forecasts suggest U.S. prices will return to pre-pandemic levels this year. Between 2015 and 2019, the five years before the COVID-19 outbreak, combined prices... Continue reading
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February 13, 2023
Prospects for the global lumber markets remain low this year
A severe recession in 2022 replaced the COVID-19 pandemic in 2020 and 2021 as the main force disrupting trade and wreaking havoc across the global timber industry. The Russia-Ukraine conflict has exacerbated the confusion. Global timber traders have spent much of last year adjusting to trade sanctions against Russia by European and American countries and struggling through widespread uncertainty. Lumber price recovery based on global economy The prospect of prices and trading trends returning this year to be more in line with pre-pandemic historical patterns appears to depend largely on how the global economy succeeds in recovering from the downward spiral that has rattled most major consumer markets in 2022. Most forecasts suggest U.S. prices will return to pre-pandemic levels this year. Between 2015 and 2019, the five years before the COVID-19 outbreak, combined prices... Continue reading
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March 15, 2023
When will the Chinese timber market recover?
In the previous years, the timber prices in China were always on the rise at the beginning of the year. However, in 2023 the prices of timber have slightly declined since the start of the year. The price of timber in Jiangsu and Shandong fell by 20 yuan/ Cubic; white pine/spruce and hemlock in Hebei and Tianjin fell by 50 yuan/cubic, and radiata pine fell by 20 yuan/cubic. The resumption rate of construction projects in China is only 86.1%, and the labor service rate is 83.9%. It can be seen that timber demand is still slowly recovering. From a regional perspective, the temperature in the northern region has just picked up, but the operating rate is still not high. East China and South China are relatively optimistic, but there is no rising demand. Therefore, the demand for building materials is also increasing but not big. The rise and fall of prices is always related to demand, and... Continue reading
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Prospects for the global lumber markets remain low this year
A severe recession in 2022 replaced the COVID-19 pandemic in 2020 and 2021 as the main force disrupting trade and wreaking havoc across the global timber industry. The Russia-Ukraine conflict has exacerbated the confusion. Global timber traders have spent much of last year adjusting to trade sanctions against Russia by European and American countries and struggling through widespread uncertainty. Lumber price recovery based on global economy The prospect of prices and trading trends returning this year to be more in line with pre-pandemic historical patterns appears to depend largely on how the global economy succeeds in recovering from the downward spiral that has rattled most major consumer markets in 2022. Most forecasts suggest U.S. prices will return to pre-pandemic levels this year. Between 2015 and 2019, the five years before the COVID-19 outbreak, combined prices... Continue reading
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February 14, 2023
US hardwood lumber expand to MENA region
The total exports of US hardwood lumber and veneer to the Middle East and North Africa region surged by 11% in 2022 to hit $107 million, said a report by American Hardwood Export Council (AHEC) released ahead of a key industry event - Dubai WoodShow. To be held from March 7 to 9 at the Dubai International Exhibition and Convention Centre, the event will see AHEC host a large American Hardwood Pavilion with individual booths occupied by 14 US hardwood exporting companies as well as the Indiana State Department of Agriculture. The 14 companies participating in the pavilion are Allegheny Wood Products, Baillie Lumber, Boss Lumber, Cascade Hardwood, Cummings Lumber, Hardwoods of America, Kamps Hardwoods, Kennebec Lumber, Midwest Hardwood, Missouri Walnut, Nina Company, Oaks Unlimited, Penn-Sylvan International and Wheeland Lumber. According to AHEC, the Mena region remains a very... Continue reading
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February 14, 2023
China: Imported timber prices fall as construction activity is slow
A week after the start of construction season, the price of imported timber in China has trended downwards. The current construction site activity is not as expected, resulting in cold demand for lumber and slow de-stocking, which suppresses the price of imported timber. The price of NZ imported radiata pine in Jiangsu fell by 10 yuan/cubic, hemlock and white pine fell by 20 yuan/cubic. In Shandong, 2-meter and 4-meter the price of radiata pine fell by 50 yuan/cubic, and 3-meter radiata pine fell by 70 yuan/cubic; white pine/spruce and hemlock fell by 30 yuan/cubic. The price of radiata pine in Fujian fell by 20 yuan/cubic, and Pinus sylvestris and white pine fell by 80 yuan/cubic. Radiata pine price in Guangdong fell by 30 yuan/cubic, and white pine fell by 70 yuan/cubic. Southern pine in Hainan increased by 100 yuan/cubic, and white pine rose by 50 yuan/cubic. 1... Continue reading
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March 20, 2023
US lumber prices surge as housing starts unexpectedly rise
US housing starts surged in February, with the upside surprise boosted by falling lumber prices in the month. Construction projects pushed through a period of rising mortgage rates. Lumber prices climbed Thursday to trade above $400 per thousand board feet Thursday. Data for February showed that new housing construction spiked unexpectedly in February, aided by falling lumber prices during the month while mortgage rates continued to tick higher. Lumber prices jumped Thursday following data showing housing starts on single-family and multi-family homes surged 9.8% last month to 1.45 million units on a seasonally adjusted annual rate, according to data from the Census Bureau. The result overshot median projections of 1.31 million units in a Bloomberg survey of economists. Lumber prices rose 5.8% to $438.60 per thousand board feet. The government's report showed a 24%... Continue reading