Global trade of softwood lumber fell about 10% in the first half of 2022. Most of the decline was driven by lower lumber demand in China, the US, and Germany, according to the Wood Resource Quarterly.
Lumber prices in Canada and the US fell by about 50% from March to July 2022 but were still close to their five-year averages.
The international boycott of Russian forest products created much uncertainty in the European lumber market, and lumber prices softened in early summer.
Lumber imports to China fell 44% during 2020-21, and shipments are on pace to reach their lowest levels in ten years in 2022.
Sawmills worldwide can look back on a few years with historically high profits due to record-high lumber prices and limited increases in wood raw-material costs. According to the Wood Resource Quarterly, current profit levels are the highest in at least 25 years.
