North American Lumber Imports Recorded Substantial Surge

SEATTLE (Scrap Monster): The most recent Wood Resources Quarterly (WRQ) Report indicates that the softwood lumber imports to the U.S. surged higher by 4.5% during the previous year. Meantime, imports to most other regions of the world reported decline in 2020.

According to WRQ, the overseas lumber supply to the U.S. reached a record 15% of the total importation in the fourth quarter of the previous year, primarily driven by robust shipments from European region, especially from countries such as Germany, Sweden and Romania. The U.S. import volumes during the quarter, including that from Canada and overseas, was approximately 10 million cubic metres. This is the highest quarterly volume in almost 13 years, noted WRQ.

ALSO READ: North American Lumber Prices Set to Extend Gains in 2021

The active home building sector sent the U.S. lumber to highly unusual market situation during the winter season. The lumber production surged higher in all regions of North America during 4Q 2020. Moreover, the strong lumber demand from the housing sector has kept the operating rates at excessively high levels in early 2021. The U.S. Lumber prices too touched record highs during the initial months of the current year.

Meantime, lumber exports from Canada reported fourth consecutive quarter with year-on-year declines, despite pickup in volumes during H2 2020. The export volume dipped to 26 million cubic metres in 2020, mainly due to limited log supply in the B.C. province. The lumber export volumes to China dipped the most, falling by almost 33% over the previous year.