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Timber Exchange trade statistics May of 2023
2023 06 05
- In May, the State Forest Enterprise (SFE) announced 201 auctions. A total of 269,400 solid m3 of wood products were offered. Compared to April, the volume of timber offered increased by 39% and the share of timber sold increased by 15%. The auctions were organised by 26 SFE units.
- The SPOT Wood Index recorded an index value of 57,01 EUR/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 7%.
- Significant price changes in May were recorded in all assortments, except for firewood and flatwood. The price of sawn logs (class B/C) fell by 10% (from 90,06 EUR/solid m3 to 80,69 EUR/solid m3), while the price of sawn logs (class D) fell by 6% (from 66,78 EUR/solid m3 to 62,67 EUR/solid m3), the price of packing logs fell by 15% (from 72,14 EUR/solid m3 to 61,50 EUR/solid m3), the price of pulpwood fell by 6% (from 64,59 EUR/solid m3 to 60,75 EUR/solid m3) and the price of logging residues rose by 7% (from 25,86 EUR/solid m3 to 27,54 EUR/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 | 100 012 | -19% | 36.9% | 57.01 | 7.3% | -26% |
| PJ (spruce, pine, birch); B/C; St,Vd; L2, L3 | 8 640 | 11% | 9% | 80.69 | 11% | -35% | |
| PJ (spruce, pine, birch); D; St,Vd; L2, L3 | 19 265 | 38% | 19.3% | 62.67 | 4% | -41% | |
| TR (deciduous, conifers) | 8 962 | -4% | 9.0% | 61.50 | 10% | -32% | |
| PP (spruce, pine, birch) | 42 535 | 58% | 43% | 60.75 | 6% | -16% | |
| PM, ML (class II and III calorific value) | 20 610 | -34% | 21% | 53.90 | 4% | -9% | |
| Felling residues, covered felling residues | 7 415 | 568% | 7% | 27.54 | – | -11% (31 Eur/m3) | |
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
In the face of sanctions and shifting market dynamics, the global timber industry is undergoing significant changes. The decline in Russia’s timber production and the enforced sanctions have reshaped the country’s export landscape. In the first four months of 2023, Russia’s plywood production fell by 24.1%, and the country entirely lost its hold on the European market. Even exports to the US dropped dramatically. However, despite these setbacks, Russia has found a new primary market in China, where it competes with local sawmills.
Simultaneously, as Russian and Belarusian suppliers grapple with global sanctions, Ukraine sees an opportunity to fill the void. Rostyslav Shurma, the Deputy Head of the Ukrainian President’s Office, highlighted Ukraine’s potential to build a timber industry worth up to $10 billion, catalysing the production of various wood products and creating thousands of jobs. State-owned enterprise Forests of Ukraine is already operational with 145 branches ensuring forest protection, rational use, and commercial activities.
Shifting our attention to the United States, timber sector leaders and market analysts anticipate a revival of seasonal demand for timber and forest products as warmer temperatures set in. Consumer spending remains robust despite rising interest rates causing a modest decline in timber prices. Market watchers are particularly optimistic about the potential for an increase in housing demand from a demographic bulge in their early to mid-30s. However, they also note the growing operational costs related to increased diesel prices and stringent regulations. Amid these challenges, industry leaders are showing an increasing interest in mass timber construction, attracted by its potential to store carbon, offering a sustainable alternative to traditional construction materials.
In summary, the global timber industry is in flux, with market shifts and geopolitical influences impacting producers and suppliers. As some countries grapple with sanctions and declining production, others stand poised to seize new opportunities. Amid this dynamic environment, sustainability and innovation are emerging as key themes that could define the industry’s future.