UK plywood imports increased by 11.9% when comparing Q1 2022 to Q1 2021, reaching 477,000 m3. Hardwood ply volumes were driven mostly by China, which continues to be the dominant source of hardwood ply products, according to Timber Development UK.
Brazil, China and Finland continued to be the main sources of softwood plywood. Supply of Particle Board, OSB, and MDF remained relatively stable in Q1 2022. Russia’s prominence as a source of hardwood plywood has quickly fallen away amidst trade sanctions.
The Russia-Ukraine conflict remains a core risk to supply. While direct imports from Russia are relatively low, they are critical to certain sectors of the market. With the direct import of Siberian Larch and Russian Birch Plywood now illegal, the market will tighten through Q2 with buyers competing strongly for the smaller volumes available in Q3. These smaller volumes of Birch Plywood and Siberian Larch will available from Finland and Latvia, from Germany and Belgium, respectively.
