EWP Imports up 2.4% in July | Down 0.3% on an annualised basis

Australia’s total imports of Engineered Wood Products (EWPs)* were valued at AUD322.0 million on a free-on-board (FOB) basis, year-ended July 2023. The result saw the value of annual imports rise 2.4% compared to the prior month.

Australia’s EWP Imports by Main Type: Jan ’22 – Jul ’23 (AUD million)

Source: ABS and IndustryEdge

The chart shows the peak import month was August 2022, when imports were valued at AUDFob49.7 million. Since August 2022, imports fell but have recently started to increase gradually, at least on a value basis. In July, imports totalled AUD26.2 million, rising for the fifth successive month.

Below, the table shows the experience of the last three months. It should be noted the ‘Other’ designation is widely expected to include some Laminated Veneer Lumber (LVL).

Monthly EWP Import Values: May ’23 – Jul ’23 (AUD)

Source: ABS and IndustryEdge

* These measures are based on data analysis by IndustryEdge, of a data series that commenced January 2022. The relatively new status of the data impedes some analysis, but that will improve over time. It should be noted that some imports of EWPs may still be reported under previous import codes.

VL (Laminated Veneer Lumber)

Over the year-ended July 2023, specifically declared imports of LVL totalled 99,239 m3. These specific imports are not all the LVL imported to Australia. As described above, much of the volume is expected to be included in the ‘Other’ designation for engineered wood product imports.

Specifically declared imports of LVL are the only engineered wood product for which volume or quantity details are available.

Australia’s LVL Imports by Grade: Jan ’22 – Jul ’23 (m3)

Source: ABS and IndustryEdge

In July 2023, the weighted average price of LVL imports was AUDFob1,027/m3. As the chart shows, the hardwood LVL that includes tropical timbers is very varied in price, consistent with small and variable import volumes. By contrast, the larger volumes of softwood LVL are more consistently priced and as a result, drive the weighted average price.

Australia’s LVL Imports by Grade: Jan ’22 – Jul ’23 (AUDFob/m3)

Source: ABS and IndustryEdge

China was the main supplier over the year, contributing just less than half of total declared LVL imports.

Australia’s LVL Imports by Country: Jan ’22 – Jul ’23 (m3)

Source: ABS and IndustryEdge

GLT (Glue Laminated Timber)

Imports of GLT were valued at AUD52.6 million year-ended July 2023, 1.0% lower than for the previous year. Monthly imports were valued at AUD3.2 million in July.

As the chart and table demonstrate, New Zealand (23.7%) and China (23.5%) dominated import supply across the year. Unfortunately, the data does not provide further details – of volumes, quantities or species for instance – but the data does add to understanding the total size and value of the Australian market.

Australia’s GLT Imports by Country: Jan ’22 – Jul ’23 (AUD million)

Source: ABS and IndustryEdge

I-BEAMS

Imports of I-Beams were valued at AUD49.2 million year-ended July 2023. Monthly imports in July totalled AUD4.6 million. As the chart and table demonstrate, Poland (40.7%) and Sweden (27.4%) dominated import supply over the year.

Australia’s I-Beam Imports by Country: Jan ’22 – Jul ’23 (AUD million)

Source: ABS and IndustryEdge

CLT (Cross Laminated Timber)

Imports of CLT were valued at AUDFob1.4 million year-ended July, down 7.3% on the year-ended June. There were no reported imports in July. Over the year, supplies from Austria accounted for 92% of the total value.