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Timber Exchange trade statistics February of 2024
2024 03 12
- In February, the State Forest Enterprise (SFE) announced 151 auctions. A total of 153.66 thousand solid m3 tonnes of timber products were offered. Compared to January, the volume of timber offered decreased by almost 8% and the volume sold increased by 8%. The auctions were organised by 25 VMU units.
- The SPOT Wood Index recorded an index value of EUR 49.99/solid m3. The index value shows a drop of 26% compared to the same period last year. Compared to the previous month, the index fell by 1%.
- Significant price changes were recorded in February:
– The price of the assortment of logging residues fell by 13%, from EUR 30.66/solid m3 to EUR 26.64/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 | 93 565 | 0% | 31.0% | 52.74 | 4.8% | -35% |
| PJ (spruce, pine, birch); B/C; St,Vd; L2, L3 | 7 835 | 43% | 8% | 79.53 | -3% | -11% | |
| PJ (spruce, pine, birch); D; St,Vd; L2, L3 | 12 700 | 53% | 13.6% | 65.32 | -3% | -16% | |
| TR (deciduous, conifers) | 8 480 | -58% | 9.1% | 64.14 | 3% | -25% | |
| PP (spruce, pine, birch) | 22 675 | 149% | 24% | 46.88 | -4% | -40% | |
| PM, ML (class II and III calorific value) | 41 875 | 20% | 45% | 37.73 | 2% | -35% | |
| Felling residues, covered felling residues | 7 645 | 38% | 8% | 26.64 | -13% | -14% | |
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
The global timber industry is currently facing several critical challenges and developments, affecting its operations and environmental impact. Timber Development UK (TDUK) has taken a significant step towards sustainability by releasing average carbon data for the top 10 timber product categories. This initiative is geared towards enabling architects, engineers, and specifiers to accurately assess the carbon footprint of their material choices right from the early stages of design. By providing independently verified Embodied Carbon Data for Timber Products, TDUK aims to encourage the use of materials such as softwood, engineered timber, and panel products in a way that considers both their carbon impact and the potential benefits of sequestered carbon.
Meanwhile, in Poland, the Ministry of Climate and Environment is taking measures to protect its forests by limiting logging activities planned for 2024. This decision, spearheaded by Minister Paulina Hennig-Kloska, focuses on preserving primeval forests and those forests that serve as vital green spaces for large populations, spa areas, and certain forestry districts. The move aligns with Poland’s commitment to the European Union’s environmental directives and the Biodiversity Strategy 2030, aiming to introduce felling restrictions in key areas like the Bieszczady and the Borecka Forest, among others. This policy underscores the government’s prioritisation of forest protection as part of its broader environmental agenda.
On the international front, conflicts in the Red Sea are posing significant disruptions to the global economy, with direct repercussions on the timber industry. According to the Global Timber Index (GTI) Report supported by the International Tropical Timber Organization (ITTO), there’s been an overall decline in the timber sectors of seven pilot countries, with all reporting GTI values below the 50% threshold in January 2024. This downturn is attributed to higher shipping costs, reduced shipments, and slower transportation speeds, particularly affecting Brazil, Indonesia, China, the Congo, Mexico, Gabon, and Malaysia. Despite these challenges, there are signs of demand-side improvement in some countries, with Brazil, the Congo, and Malaysia experiencing an uptick in new orders, suggesting potential resilience amidst these adversities.
In summary, the global timber industry is navigating a complex landscape marked by environmental sustainability efforts, national policies on forest conservation, and geopolitical conflicts affecting trade. Initiatives like TDUK’s carbon data release and Poland’s logging limitations reflect a growing emphasis on environmental responsibility and conservation. At the same time, the industry must contend with the logistical and economic challenges posed by external factors like the Red Sea conflicts, highlighting the need for strategic adaptation and international cooperation to ensure both the industry’s sustainability and its contribution to global environmental goals.