Global Lumber Markets
Lumber Markets - Europe Lumber trade fell slightly in Europe in 2020. During the first eight months, shipments from the major exporting countries were down 1.2% - the first y-o-y decline in eight years, reports the WRQ. Countries that have reduced exports the most so far this year include Finland, Latvia, and Austria. There have been mixed developments in the Nordic countries, with Finland shipping substantially less lumber this year, while Sweden actually increased shipments. Sweden is on track to reach an all-time high in export sales this year. The markets where Swedish exporters have expanded the most since 2019 include the US, China, Germany, Denmark, and Egypt. Lumber prices in Finland and Sweden have moved up during much of 2020, as reported in the WRQ. The increases followed a low point in late 2019 when prices were at their lowest in over ten years (in US dollar terms). Lumber Markets - North America The US lumber market was red hot in the 3Q/20, with prices surging to levels never seen before. Southern pine prices increased by 160% from the year’s low in April, to September. In Western US, Douglas-fir lumber prices almost doubled during the same period. High domestic demand for lumber in the US and a trade dispute with China reduced US softwood exports in 2019 and 2020, with y-o-y reductions of 17% recorded in the first nine months of 2020. Total shipments for 2020 are on track to be their lowest in over ten years. Canadian lumber exports have also declined in 2020. During the first nine months of the year, shipments were 10% lower than in the same period in 2019, with most of the decline occurring from January to June.