Softwood imports see a strong start to 2023

The softwood category started 2023 on a high, with volumes up 12% compared to January 2022, according to the latest Timber Development UK statistics.

Softwood imports totalled 426,000m³ in January this year, with volume increases from Sweden, Finland and the Republic of Ireland largely responsible.

Despite softwood increases, overall timber import volumes were 8.7% lower than in January 2022. This is due to significant declines in panel product imports, with plywood and particleboard down 42% and 18% respectively. Hardwood imports also dropped by 37% following a record year in 2022.

Looking long-term, there is room for positivity, with yearly import volumes around 100,000m³ higher on average than in 2013.

TDUK Head of Technical and Trade, Nick Boulton, said: “It is great to see softwood imports on the up once more following a tricky 2022.

“This growth is largely attributable to returning construction activity, with recent Department for Business and Trade figures reporting increased RM&I work in early 2023.

“These latest softwood figures suggest that normality may finally be returning to the market after a tumultuous few years of Covid, conflict and general uncertainty.

“The panel and hardwood sectors are a little further behind, with imports well below 2022 levels. This, however, is due in part to unusually high imports in January 2022 rather than downward market trends.

“Looking long-term, the stats paint a positive picture with timber imports consistently on the up since 2013.

“This is likely to continue in the years ahead as the UK Government looks to decarbonise its built environment using timber.”

TDUK has also launched a powerful new Structural Timber price index tool to help the construction industry assess changes in the UK timber market.

The Structural Price Index displays the monthly price of structural timber stretching back to 2018, giving users the ability to compare today’s timber prices to those seen five years ago. The figures seen in 2018 were pre-Brexit, pre-Covid and pre-War in Ukraine, making them arguably the most recent ‘normal’ year we have experienced and therefore a sensible point for comparison.

Nick Boulton explains: “The TDUK Structural Timber Price Index is a powerful new tool for the construction industry to understand the state of the timber market in the UK. As you can see from this first iteration, now online for public use, the price of structural timber has been on a rollercoaster journey over the past three years – in between major events like Brexit, Covid, and the invasion of Ukraine.

“Timber is a globally traded commodity and the UK is a major importer of structural timbers, so large geopolitical events can ripple across the trade. The abnormal structural timber prices we have seen over the past three years reflect the abnormal market we have all lived through.

“However, the three most recent months shown on the index – from November 2022 to January 2023 – are among the most stable price periods we’ve seen since 2019 – which likely reflects the balance between supply, demand, and price.

“While no one can predict the future, the commodity market for structural timbers has historically been a steady, and dependable one. We will be watching the market carefully to see whether this trend will be re-established.”

This latest tool is part of TDUK’s ongoing mission to provide comprehensive market data to help the timber supply chain navigate the changing economic climate. This includes monthly timber import statistics, quarterly reports on UK timber demand and supply, and weekly economic and construction updates from the Construction Products Association.