Softwood lumber imports to the US were up 4.5% in 2020, contrary to China, Japan and MENA where imports fell - Seite 2

Softwood Lumber - Europe

Sawmills in several European countries have long been exporting large volumes of softwood lumber outside their domestic markets. Historically, most of the shipments were to neighboring countries on the continent, and only about 20% were shipped overseas to the Middle East/Northern Africa (MENA), the US, and Japan. In 2020, this share grew to 45%, with shipments to China having expanded the most.

A combination of stagnant wood demand in Europe, readily available log supply in Northern and Central Europe, and a lack of forest resources available to supply domestic lumber manufacturers on other continents has created opportunities for sawmills in Europe to increase production and expand exports overseas.

The four largest producers and exporters of softwood lumber in Europe are Sweden, Finland, Germany, and Austria. Together they produced just over 55% of Europe's total lumber production. The Wood Resource Quarterly reports that the overseas shipments by these "Top 4" accounted for about two-thirds of the continent's total lumber export volume in 2020.

Softwood Lumber - Russia

Russian lumber exports reached a record high in the 3Q/20, with shipments to China, Uzbekistan, Kazakhstan, Finland, and the UK moving up from the previous quarters. Activities slowed down in the fourth quarter, and the total export volume in 2020 was close to the same as in 2019, which was the highest yearly shipments on record.

China is by far the largest market for Russian lumber (56% of total exports in 2020), followed by the CIS countries, Europe, other Asian countries, and the MENA region. The most significant change in Russian exportation over the past five years has been the relative decline in the share of total shipments to Asia and the increased sales to the CIS region.

Softwood Lumber - China

Lumber imports to China fell dramatically in the 4Q/20, resulting in a total Chinese import volume of just over 24 million m³ for the entire year, a 30% decline from 2019. The reduced imports in the 4Q were not the result of decreased construction activities. GDP was up 6% and the real estate market was strong. Instead, it was because of high lumber inventories that were built up during the 2Q and 3Q, and because purchasers appeared reluctant to further build inventories during the uncertain times created by the pandemic. However, there is optimism in the construction and manufacturing sectors for 2021, which should offer a promising outlook for lumber suppliers to China.