Softwood sawnwood imports lifted a very large 43.8% to a record 819,972 m3 over the year-ended August 2018. Driven by the intersection of at least three main factors, imports rose sharply in August, lifting 21.1% to a second successive monthly record of 97,376 m3. One month does not a trade define, but by any measure, imports are booming.
Aggregate imports are one thing, and as the chart shows, their growth has certainly been remarkable, but the details of the imports show there are some grades faring better than others.
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Total imports rose almost exactly 250,000 m3 over the year-ended August, but as the chart below (displaying year-end imports to August 2017 and August 2018) shows, the really significant growth was reserved for two specific grades.
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As the chart shows, the import grades that experienced the largest rises included Dressed Coniferous Pine (excl Radiata) Sawn Softwood [4407.11.10.40], imports of which rocketed 80.7% to 284.090 m3. The sensational rise in what is primarily structural timber saw imports from several countries increase since the start of 2018.
Shipments from Russia increased from less than 1,000 m3 over the year-ended August 2017, to 21,060 m3 in the most recent year. Supplies from Germany shot up by more than 1,000% to 27,435 m3 and those from Estonia lifted 40.2% to 107,829 m3.
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The other grade that saw imports rise dramatically was Dressed Coniferous Fir or Spruce [4407.12.10.13]. Imports lifted 189% to 136,558 m3 over the year-ended August. Shown in the chart below, Sweden’s contribution rose 238.9% to 49,611 m3, while Germany’s supplies lifted from almost noting to 41,550 m3.
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In combination, these two sawn softwood import grades are the significant majority of the import response to the challenge of a local sawn softwood deficit.
One of the factors feeding into European sawn softwood import prices for Australia is inevitably the price of European sawlogs. The next item in this edition of Statistics Count details Baltic region log prices.
