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Covid-19 increases the demand for sawnwood

Wood consumption for the construction and reparation works of homes are in clear increase driven by remote working and staying home.

In Finland, the prices of softwood sawlogs have risen by an average of 10% over the past 12 months. At the same time, sawn timber prices have recovered by about 20%.

In Ireland, the demand for wood is high in spruce logs, and prices are about 9% higher in final felling stands and 15% higher in thinning stands than a year ago.

In North America, one of the main drivers for forest industry is housing, and overall it has been doing very well lately. US housing starts have increased from past 5-years average of ca. 1200k/month to current level of ca. 1400-1600k/month, i.e. around 20-30%, and even more compared to the beginning of the covid19-period a year ago. According to Madison’s Lumber Reporter, softwood lumber and panel prices have about tripled in North America since April 2020.

In general, strong demand in the sawn timber market is reflected in the need for saw logs and it is increasingly focused on coniferous sites.

See also a recent article in Financial Times: https://on.ft.com/3dFt6Sc

For further information please contact Petteri Seppänen, petteri.seppanen@dasos.fi

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