Global trade of softwood lumber fell about 10% in the first half of 2022 compared to the same period in 2021. Most of the decline was driven by lower lumber demand in China, the US, and Germany. The slowdowncame at an opportune time since European countries, North America, and Asia boycotted Russian forest products.
- North America – A weakening in wood demand and sharply falling lumber prices reduced operating rates throughout North America during the spring and summer months. The most significant declines were seen in BC and Western US.
- Europe: Lumber exports from the Nordic countries fell about five percent YoY during the first five months. In addition, shipments to China took a big hit, with about 30% less imported in 2Q22 than in 1Q22.
- China – Average import values have remained relatively stable in 2022, with 2Q22 lumber prices averaging $260/m3, up from $255/m3 in the previous quarter.
- Japan – the declining lumber import trend turned around, with volumes increasing 18% YoY.