Timber Exchange trade statistics December of 2023

2024 01 08
  • In December, the State Forest Enterprise (SFE) announced 177 auctions. A total of 236.4 solid m3 of timber products were offered. Compared to November, the volume of timber offered decreased by 30% and the volume of timber sold decreased by 23%. The auctions were organised by 25 VMU units.
  • The SPOT Timber Index recorded an index value of EUR 46.54/solid m3. The index value shows a 27% decrease compared to the same period last year. Compared to the previous month, the index fell by 6%.
  • Significant price changes were recorded in December:
    • In the sawn logs (B/C) assortment, the price fell by 6%, from EUR 85.76/solid m3 to EUR 80.24/solid m3.
    • In the sawn logs (D) assortment, the price dropped by 14%, from EUR 68.00/solid m3 to EUR 58.49/solid m3.
    • The price of the assortment of sawn wood (Class II, III) and panel timber fell by 5 %, from EUR 36.91/solid m3 to EUR 35.18/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 134 565 -31% 24.5% 52.74 4.8% -35%
PJ (spruce, pine, birch); B/C; St,Vd; L2, L3 5 550 7% 4% 80.24 -7% -13%
PJ (spruce, pine, birch); D; St,Vd; L2, L3 10 645 -45% 7.9% 58.49 -14% -20%
TR (deciduous, conifers) 16 795 -37% 12.5% 48.88 -3% -33%
PP (spruce, pine, birch) 22 255 -15% 17% 45.91 -4% -27%
PM, ML (class II and III calorific value) 79 320 12% 59% 35.18 -5% -40%
Felling residues, covered felling residues 6 020 -63% 4% 28.44 -5% -8%

Trade in regional units of the State Forest Enterprise in short-term auctions

Timber assortments sold at ETTS short-term auctions


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 timber industry is experiencing a pivotal moment, balancing between sustainability initiatives and fluctuating economic conditions.

COP28: Timber’s Role in Decarbonising Construction: Recent discussions at COP28 have emphasised timber’s crucial role in the construction industry’s push towards decarbonisation. Wood processing and manufacturing associations globally have celebrated this shift, seeing it as a major opportunity for growth and sustainability. In the UK, Timber Development UK (TDUK) is actively engaging with the government’s Timber Construction Policy Roadmap, aiming to identify opportunities and barriers for expanding timber construction. Alex Goodfellow of the Confederation of Timber Industries hails this as a “pivotal moment” for a low-carbon industry.

Stora Enso’s Net-Zero Carbon Emissions Pledge: Stora Enso, a global leader in renewable solutions, has pledged to achieve net-zero carbon emissions by 2040, aligning with The Climate Pledge. This commitment is a step towards the company’s ambition to become net carbon positive, with a significant goal to cut its Scope 1, 2, and 3 emissions by 50% from 2019 levels by 2030. The Climate Pledge involves regular greenhouse gas emissions reporting and implementing decarbonisation strategies in line with the Paris Agreement.

Global Timber Index Report: Signs of Recovery: The Global Timber Index (GTI) Report suggests a softening of the downturn in timber sectors of countries like Malaysia, Mexico, and others. Although the GTIs for major timber-producing countries remained below 50% in November, indicating a decline, there was an improvement from the previous month. The most notable recoveries were seen in Malaysia, Mexico, and Gabon. Meanwhile, China, a major timber consumer, saw an increase in market demand and supply, reflecting its seasonal peak.

US Timber Market: Economic Indicators and Pricing Trends: In the United States, the timber market has displayed a bullish trend, with significant fluctuations in lumber futures. After trading just below $500 per 1,000 board feet in late October, lumber futures saw an upward trend with January physical lumber futures reaching $539 per 1,000 board feet by mid-November. This trend continued with the March contract price climbing to $585.50 per 1,000 board feet by late December. The U.S. Federal Reserve’s decision at the December the Federal Open Market Committee (FOMC) meeting, indicating a shift to a more accommodative monetary policy, has played a role in this trend. While high mortgage rates have impacted the housing market, the shortage in home supplies has kept prices high, indicating a potential increase in demand for new construction and, by extension, for lumber.

The global timber industry is navigating through a period marked by environmental commitments and economic shifts. The focus on sustainability, coupled with evolving market dynamics, is reshaping the future of timber. As environmental policies and economic factors continue to influence supply and demand, the timber industry’s response will be key in determining its path forward in these changing times.