The quantity of timber and panel merchandise imported in Q1 2021 was at its highest in additional than a decade, since Q1 2007, the newest Timber Commerce Federation (TTF) statistics have proven.
Q1 2021 strong timber and panel product import volumes have been 23% larger than Q1 2020, nearing virtually 3 million m3 (2,938,000 m3) as in comparison with final yr’s 2,396,000m3.
This makes Q1 2021 have the best quantity of imports since Q1 2007 (3,021,000 m3), and the third consecutive quarter of report volumes, following Q3 (2,698,000 m3) and This autumn (3,123,000 m3) 2020.
Primarily based on the power of demand seen in 2021 it’s estimated that the overall quantity of imports in Q2 2021 may attain 3,300,000 m3 and rival the second quarter of 2007 (3,371,000 m3).
With demand so robust that even report imports can’t fulfill it, the TTF believes provide is more likely to proceed to tighten – notably with Swedish mill shares the bottom for 20 years.
The Timber Trade Federation (TTF) has previously warned that these low inventory ranges will imply the steadiness between provide and demand is more likely to additional tighten this summer season.
David Hopkins, CEO of the Timber Commerce Federation (TTF), stated:
“These statistics underline that the market is continuous to import unprecedented ranges of quantity amidst report demand for timber and panel merchandise.
“Because the launch of our Market Statement in May, current reviews from our members and the CPA point out that demand stays robust which is able to hold provide tight all through 2021.
“All customers of timber should work intently with suppliers on their buying methods, and to take a forward-looking perspective as timber is more likely to stay on allocation.”