The following content was prepared by IndustryEdge and supplied to its subscribers in late September.
Australia’s estimated apparent Sawn Softwood consumption for the year ended July 2022 totalled 3.913 million m³. Compared to the previous year, this represents an increase in annual consumption of 7.8%. Looking out toward the end of 2023, IndustryEdge’s forecast of sawn softwood demand continues to soften, but remains relatively strong.
Production for the year (where domestic sales are the proxy measure), was down an estimated 4.1% to 3.068 million m³. In July sales were recorded at 0.258 million m3. As ever, it is also important to note that the FWPA data series is based on a voluntary survey and does not include all sawn softwood production. Additionally, its value over time is impacted by different companies coming into and leaving the survey.
Exports fell 28.3% over the year-ended July 2022 to total 0.091 million m³.
Imports grew 67.1% over the year, to total 0.936 million m3.
Apparent Consumption of Softwood Products: Jan ’17 – Jul ‘22 (‘000 m³)
Note: Production is actually ‘sales’ volumes from each month
Structural Softwood Demand Forecast – Easing gradually
IndustryEdge’s Sawn Structural Softwood Demand Forecast indicates demand for structural timber continues its gradual decline, after peaking in March 2022. The forecast factors in the pipeline of future building work and the likely timeframe in which the works could occur.
The forecast shows the backlog of work waiting to be undertaken is gradually falling. Demand for structural sawnwood is forecast to remain above the supply chain’s normal capacity until the latter part of this year, stabilising in early 2023.
Imports are helping to address current demand. If demand in coming months is not met, this will push the pipeline of work out into 2023.
The Sawn Softwood Consumption Forecast can be interrogated in detail via the ‘Consumption Forecast’ View menu in Wood Market Edge online. All charts and data can be downloaded.
As this edition of Stats Count goes to press, subscribers to IndustryEdge’s Wood Market Edge online service are able to examine the August Sawn Softwood Consumption data and the Structural Softwood Demand Forecasts.
