Redwood

January 27, 2016

Setra cuts redwood production do the uncertainty in Egypt

Swedish wood products company Setra is making production cutbacks at three redwood sawmills during the fourth quarter to guard against the uncertain market development in North Africa. “In the current more turbulent situation, in the North African markets in particular, our assessment is that a market adjustment of the production level is necessary,” says Olle Berg, Market & Business Development Director at Setra. “Our biggest concern is the present shortage of foreign exchange in Egypt and in the current situation we do not see any immediate solution to the problems this causes. It mainly affects our redwood production and the sawmills that are most exposed to the North African markets. We believe that it is better for Setra to respond to the changed market situation and in this way keep good control of our stocks, in terms of both balance and levels,” says... Continue reading →

August 2, 2015

Many redwood products stores to close in Beijing

According to a representative from one of the main redwood‘ markets in Beijing some 12 stores selling redwood‘ products have closed and only 2 remained open as of the end of July. It has been reported that demand for redwood‘ products has cooled considerably and sales by the well-known, large redwood enterprises are slow and well down from a few years ago. The smaller manufacturers of redwood‘ have been particularly affected by the market downturn. While there is some demand for high-end redwood‘ furniture analysts estimate that 50% of the furniture sold today is of wood-based panels and that these products dominate the market. The future for redwood‘ furniture makers in Beijing does not look bright and analysts expect further closures as demand... Continue reading →

January 21, 2019

Weaker demand for high value ‘redwoods’ in China

Many timber suppliers in the Shanghai Furen timber market are complaining that demand for timber for furniture making has suddenly become very quiet. In fact, some have noted that furniture factories are closing early for the New Year celebrations with workers already heading home. Redwood (rosewood) furniture has a high status in China and is favored by middle-class consumers but, say analysts, demand has slowed over the past two years because of the slowdown in the economy. This slowdown has affected young generation middle class consumers who are now facing growing financial challenges. Analysts write “the Chinese redwood furniture consumption power is now not strong.” Oversupply of low quality and alternatives to rosewood has undermined demand and even furniture made from the top species has fallen such that demand for Myanmar padauk, blackwood and rosewood in the Furen... Continue reading →

January 27, 2016

Setra cuts redwood production do the uncertainty in Egypt

Swedish wood products company Setra is making production cutbacks at three redwood sawmills during the fourth quarter to guard against the uncertain market development in North Africa. “In the current more turbulent situation, in the North African markets in particular, our assessment is that a market adjustment of the production level is necessary,” says Olle Berg, Market & Business Development Director at Setra. “Our biggest concern is the present shortage of foreign exchange in Egypt and in the current situation we do not see any immediate solution to the problems this causes. It mainly affects our redwood production and the sawmills that are most exposed to the North African markets. We believe that it is better for Setra to respond to the changed market situation and in this way keep good control of our stocks, in terms of both balance and levels,” says... Continue reading →

January 21, 2019

Weaker demand for high value ‘redwoods’ in China

Many timber suppliers in the Shanghai Furen timber market are complaining that demand for timber for furniture making has suddenly become very quiet. In fact, some have noted that furniture factories are closing early for the New Year celebrations with workers already heading home. Redwood (rosewood) furniture has a high status in China and is favored by middle-class consumers but, say analysts, demand has slowed over the past two years because of the slowdown in the economy. This slowdown has affected young generation middle class consumers who are now facing growing financial challenges. Analysts write “the Chinese redwood furniture consumption power is now not strong.” Oversupply of low quality and alternatives to rosewood has undermined demand and even furniture made from the top species has fallen such that demand for Myanmar padauk, blackwood and rosewood in the Furen... Continue reading →