Amid a declining housing market, UK timber imports saw an increase in April 2024, showing resilience.
- April 2024 marked a notable 4.7% increase in timber import volumes compared with April 2023.
- Despite an overall decrease, softwood imports indicated emerging trends with contributions from diverse supply sources.
- Housing starts in England showed a significant year-on-year decline, impacting timber demand.
- Noteworthy shifts in softwood plywood supply were observed, with increased imports from Brazil leading the charge.
In April 2024, the UK timber import market demonstrated resilience with a 4.7% increase in volume compared to the same month of the previous year. This rise reduced the deficit gap between 2024 and 2023 by the end of April, from 150,000 cubic metres at the end of the first quarter to 109,000 cubic metres. While the import volume showed growth, the value of softwood imports for the first four months remained 7% lower than the same period in 2023. This decline was attributed to a 4% volume reduction and a 3% decrease in the average price of softwood imports.
The softwood plywood sector experienced a significant shift in supply dynamics. April saw an increase in import volume, with approximately 5,000 cubic metres more than in April 2023. Brazil emerged as a leading supplier, contributing an additional 3,500 cubic metres, accompanied by increased imports from China, Chile, Uruguay, and Canada. Despite these increases, imports from Finland saw a substantial drop. Collectively for the quarter, the value of plywood imports stayed 10% below the figures from the first four months of 2023, with softwood plywood values dropping by 18% and hardwood plywood values by 7%.
Housing demand continued to face challenges, with England’s housing starts declining 39% year-on-year in the first quarter of 2024, following a 50% decrease the previous quarter. Despite this, there was a significant growth in softwood imports from Norway, which saw a 14% increase. Norway’s exports primarily consisted of sawn and planed pine and spruce, with planed spruce almost doubling in volume compared to the previous year’s figures.
Tropical hardwood imports also exhibited robust growth, particularly from the Congo Republic, which saw its market share almost double to 26%. This increase was mainly driven by a 40% increase in the import of sawn Sapelli. Additionally, Romanian hardwood, particularly sawn beech, saw a marked increase in UK imports, jumping from minimal volumes in early 2023 to over 4,500 cubic metres by 2024. Romania’s share of UK beech imports now stands at 40%.
The particleboard sector, dominated by Spain, recorded the highest volumes in standard unworked varieties and melamine-faced chipboards. Although all particleboard imports decreased by 3% in the first four months compared to the previous year, Spain’s supply to the UK dramatically increased by 110%, leading to a threefold increase in the importation of standard unworked particleboards.
The timber market reflects nuanced shifts in supply sources and economic conditions, highlighting adaptation despite overall declines.
