The Madison’s Lumber Prices Index for the week ending September 29, 2023 was US$436 mfbm. This is down by -3%, or -$12, from the previous week when it was US$448.
Markets
For the first time since March, the purchasing managers' index topped the 50 mark that separates growth from contraction.
Price for MDF panels exported from Turkey contracted 7%.
The supply of walnut and maple logs has increased.
In August, a total of 4.8 million cubic metres of roundwood in Finland was harvested for industrial use. Compared to last year's August, the removal volume was one-fifth or 1.2 million cubic metres lower. In January-August, a total of 38.1 million cubic metres of industrial wood was harvested. This removal volume was d...
Exports of wood pellets from Vietnam to Japan expanded 22%.
Imports of bleached softwood kraft pulp to China expanded 8%.
Imports of wood chips to Japan rose 5%.
The China Caixin Manufacturing Purchasing Managers' Index (PMI) saw an unexpected rise from 49.2 in July to 51.0 in August.
The sustainable bio-monoethylene glyco UPM BioPura will be produced from certified hardwood obtained from regional forests around Leuna, Germany.
Imports of logs to Japan contracted 19%.
Price for wood pellets imported to Japan lost 10%.
Price for softwood lumber imported to Japan slipped 1.3%.
Russian exports of lumber and rough wood fell sharply in 2023 due to sanctions caused by the Russian invasion of Ukraine.
Average price of lumber lost 30%.
Freight costs for shipping logs from the North Island of New Zealand to China have continued to rise.
In the week ending September 15, 2023, the price of Western S-P-F 2x4 #2&Btr KD (RL) was US$410 mfbm, said forest products industry price guide newsletter Madison’s Lumber Reporter. This is down by -$16, or -4%, from the previous week when it was $426.
The increase in prices that began in January has now erased the earlier decline, so that July represents a new all-time high for the National Composite.
Over the past twelve months, shipment volumes have been declining year-on-year.
Of the roughly 1,005,000 U.S. single-family and 547,000 multifamily homes started in 2022, 59,000 (28,000 single-family and 31,000 multifamily) were built in age-restricted communities.