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Timber Exchange review – February 2020
2020 03 20
Trade was very active in the first two months of this year. A total of 50,507 solid m³ of timber was sold via the Electronic Timber Trading System (ETTS) by the end of February 2020. Similar market activity in the month of February was last recorded in 2015. The supply of firewood and timber harvesting residues was particularly high – a surplus of these assortments has been observed from the very beginning of the heating season. Ninety-one auctions were held in February, of which 67 auctions were announced completed. Eighty-seven buyers took part in the auctions, and 95% of timber was purchased by Lithuanian companies. The total value of the sold timber amounted to EUR 1.12 million.
During the half-year actions held in February, a total of 3,800 solid m³ of timber was sold. The amount of sold firewood was 1,800 solid m³. Timber harvesting residues at cleared space and timber harvesting residues
amounted to 1,400 solid m³ and 600 solid m³ respectively. The weighted selling price of firewood was 14.88 EUR/solid m³; the price was 4.57 EUR/solid m³ for timber harvesting residues at cleared space and 9 EUR/solid m³ for timber harvesting residues. The fourth repeat half-year auction scheduled on 18–23 March has been announced. Timber harvesting residues and some of the unsold firewood will be offered during the auction.
Trade activity was fairly high during short-term auctions, in particular given the fact that Q1 is normally the least active quarter. A total of 46,707 solid m³ of timber was sold, which is a 5 times increase compared to February 2019. Wood panels were the most demanded assortment – 16,850 solid m³ of these were sold; they were followed by firewood (13,540 solid m³), sawlogs (7,686 solid m³), pulpwood (5,898 solid m³), packing logs (2,280 solid m³) and timber harvesting residues (453 solid m³).
Trade in the TOP timber assortments in February accounted for 91% of the total sales of timber, i.e. 42,602 solid m³. The greatest share of the short-term transactions portfolio accounted for wood panels and firewood (class II and III calorific value) (66%); these were followed by pulpwood (14%), sawlogs (7%) and packing logs (5%).
In February, changes in the prices of the TOP assortments did not resemble those recorded in January. The prices of class B/C sawlogs increased by 6%; the increase was 4% for class D sawlogs, firewood and wood panels; the prices of pulpwood and packing logs decreased by 9% and 4% respectively.