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Timber Exchange trade statistics April of 2024
2024 05 03
- In April, the State Forest Enterprise (SFE) announced 217 auctions. A total of 239,9 thousand solid m3 of timber products were offered. Compared to March, the volume of timber offered more than doubled and the volume sold increased by 61%. The auctions were organised by 24 VMU units.
- The Timber SPOT index recorded an index value of EUR 51,68/solid m3. The index value shows a drop of 16% compared to the same period last year. Compared to the previous month, the index fell by 4%.
- Significant price changes were recorded in:
- The price of sawn timber (birch, spruce, pine), grade D, fell by 14%, from EUR 73,14/solid m3 to EUR 62,70/solid m3.
- The price of the packing log (deciduous, coniferous) grade fell by 13% from EUR 65,93/solid m3 to EUR 57,15/solid m3.
- The price of felling residue variety fell by 10 %, from EUR 25,93/solid m3 to EUR 23,30/solid m3.
BALTPOOL Timber Price (SPOT) Index
Trade in TOP timber assortments in ETTS short-term auctions
Trade in TOP assortments in ETTS short-term auctions
| Assortments | Quantity, solid m³ | Change in quantity per month | Quantity percentage in the scope of TOP 5 assortments | Price, Eur/solid m³ | Change in price per month | Change in price per year | |
| Baltpool Timber Spot index | Index | 124 554 | 39% | 41.3% | 52.74 | 4.8% | -35% |
| PJ (spruce, pine, birch); B/C; St,Vd; L2, L3 | 14 340 | 114% | 12% | 83.33 | 1% | -7% | |
| PJ (spruce, pine, birch); D; St,Vd; L2, L3 | 18 231 | 106% | 14.6% | 62.70 | -14% | -6% | |
| TR (deciduous, conifers) | 18 875 | 71% | 15.2% | 57.15 | -15% | -21% | |
| PP (spruce, pine, birch) | 30 508 | 60% | 24% | 56.33 | 2% | -13% | |
| PM, ML (class II and III calorific value) | 42 600 | -37% | 34% | 38.31 | -1% | -29% | |
| Felling residues, covered felling residues | 9 505 | 73% | 8% | 23.30 | -10% | -10% | |
Trade in regional units of the State Forest Enterprise in short-term auctions
Timber assortments sold at ETTS short-term auctions
Abbreviations:
KA – felling residues; KAD – covered felling residues; KAK – felling residues at cleared space; KL – hard leafy short timber; ML – firewood; PM – panel timber; PJ – sawn logs; PP – pulpwood; TR – packing logs; St – large-sized timber, small-end diameter ≥32 cm; Vd – medium-sized timber, small-end diameter 20-31 cm; Sm – small-sized timber, small-end diameter ≤19 cm; L1 – assortment length class, ≤2.9 m; L2 – assortment length class, 3.0 – 3.9 m; L3 – assortment length class, 4.0 – 6.0 m; L4 – assortment length class, 6.1 – 8.9 m.
Global timber market
In April 2024, the timber industry continues to grapple with regulatory, economic, and labor challenges, as well as opportunities through legislative support and innovations.
Adaptation to EU Deforestation Regulation (EUDR)
Certification schemes like FSC and PEFC are evolving to meet the EU Deforestation Regulation (EUDR), offering crucial compliance support to the timber industry. These schemes are adjusting their standards and implementing tools like the FSC Blockchain to manage data requirements such as geolocation coordinates. This adaptation will facilitate compliance but also demands significant changes from companies involved in EU timber trade. Both organisations are revising their deforestation cut-off dates and enhancing their due diligence systems to align with EUDR, ensuring that certified companies can undertake necessary due diligence processes.
Mass Timber Federal Buildings Act
In the United States, Senators from Oregon and Idaho have introduced the bipartisan Mass Timber Federal Buildings Act, aiming to boost the use of mass timber in federal and military construction projects. This legislation proposes a preference in federal contracts for mass timber sourced responsibly from various lands, including state and tribal forests. It includes provisions for life cycle assessments to underscore the carbon sequestration benefits of mass timber, potentially increasing its adoption in public building projects.
Manufacturing and Construction Dynamics
The U.S. manufacturing sector shows signs of recovery, with the Institute for Supply Management’s index finally indicating expansion after a prolonged downturn. However, the furniture sector continues to contract, indicating mixed fortunes within the broader industry. Meanwhile, U.S. construction spending has seen a slight month-over-month decline but maintains a robust year-over-year growth, reflecting ongoing but uneven demand across the construction sectors.
Corporate and Market Struggles
Stora Enso’s wood products division faces challenges with low demand and high costs, although a profit improvement program shows positive progress. The Finnish strike significantly disrupts the wood industry, affecting production and shipment schedules, with potential long-term impacts on the availability and pricing of European lumber in global markets.
In summary, April 2024 sees the timber industry navigating through a complex array of regulatory adjustments, market fluctuations, and sector-specific challenges. Legislative efforts like the Mass Timber Federal Buildings Act offer potential boosts, while certification bodies work diligently to align with new EU regulations, ensuring the industry remains compliant and sustainable amidst evolving global standards.