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Timber Exchange trade statistics August of 2023
2023 09 07
- In August, the State Forest Enterprise (SFE) announced 203 auctions. In addition to the semi-annual auction, a total of 258 100 solid m3 of wood products were offered. Compared to July, the volume of timber offered decreased by 7% and the volume of timber sold did not change significantly. The auctions were organised by 26 VMU units.
- The SPOT Wood Index recorded an index value of EUR 52.74/solid m3. The index value shows a decrease of 35% compared to the same period last year. Compared to the previous month, the index rose by 5%.
- Significant price changes were recorded in August:
- In the sawn timber (B/C) assortment, the price rose by 16%, from EUR 54.56/solid m3 to EUR 50.08/solid m3.
- The price of the tar log assortment increased by 8%, from EUR 50.08/solid m3 to EUR 54.23/solid m3.
- The price of the firewood assortment fell by 5%, from EUR 46.13/solid m3 to EUR 43.69/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 | 138 012 | -3% | 38.5% | 52.74 | 4.8% | -35% |
| PJ (spruce, pine, birch); B/C; St,Vd; L2, L3 | 1 060 | -67% | 1% | 92.84 | 14% | -11% | |
| PJ (spruce, pine, birch); D; St,Vd; L2, L3 | 21 197 | -34% | 15.4% | 53.43 | 1% | -40% | |
| TR (deciduous, conifers) | 30 865 | -27% | 22.4% | 54.23 | 8% | -44% | |
| PP (spruce, pine, birch) | 18 430 | -31% | 13% | 51.04 | 0% | -41% | |
| PM, ML (class II and III calorific value) | 66 460 | -79% | 48% | 43.69 | -6% | -46% | |
| Felling residues, covered felling residues | 2 865 | -23% | 2% | 35.06 | -5% | 13% | |
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
US softwood timber imports from Europe sharply declined in the second quarter following a robust start to the year, contributing to an overall dip in US demand for foreign timber in the first half. Imports from the top 10 European suppliers fell 30% to 428 million board feet (1 m3 is approximately 424 board feet) in the second quarter, down from a record-setting first quarter. Despite this, imports for the first half of the year increased by 12% compared to the previous year. Many experts anticipated this trend to persist through the third quarter, driven by declining production in Europe. Timber prices have also dipped, approaching the $500 per thousand feet mark, marking their lowest level since mid-August, largely due to a slowdown in demand. Experts anticipate that European exports to the US will continue to decline through at least the third quarter, failing to reach the previous year’s record levels, as a result of higher interest rates and reduced production in Europe. Additionally, there are ongoing concerns about constrained supply due to the impact of Canadian wildfires, further affecting the timber market.
In the timber and pulp industry, many major tropical companies are ill-prepared for the European Union Deforestation Regulation (EUDR) set to take effect in December 2024. Only 13.3% of these companies publicly demonstrate deforestation monitoring within their operations, and just 4.3% monitor their suppliers. The EUDR mandates that companies ensure their products are deforestation-free, traceable in origin, and legally produced in their country of origin. Failure to comply risks losing access to the EU market, the world’s third-largest economy. ZSL, a conservation charity, calls for support from buyers and financial institutions to enhance EUDR compliance and address deforestation challenges in the timber and pulp industry.
Additionally, the European Commission has initiated an investigation into birch plywood imports from Turkey and Kazakhstan, suspecting they might be evading anti-dumping measures imposed on Russian plywood. The Woodstock Consortium, a major industry player, requested the investigation amid concerns about the origin and intent behind these imports. The investigation focuses on birch plywood imports lacking clear confirmation of their country of origin, potentially used to circumvent restrictions on Russian birch plywood imports. Russia had been a significant supplier of birch plywood to the EU until a comprehensive ban on Russian forest products was imposed in July 2022. The investigation aims to assess whether these imports are indeed bypassing existing anti-dumping measures, potentially leading to the imposition of appropriate duties to ensure fair competition.