WRI Global Sawlog Price Index Surged in Third Quarter

SEATTLE (Scrap Monster): The quarterly report published by the Wood Resources International (WRI) suggests 2.9% surge in the Global Sawlog Price Index (GSPI) in Q3 last year, upon comparison with the prior quarter. The surge in Index follows two years of decline, WRQ noted.

The two regions that have registered notable declines in sawlog prices over the past few years are Europe and Latin America. The log costs in Central Europe recorded 22% decline in Euro terms over the past three years. The European Sawlog Price Index (ESPI) dipped by 1.4% over the previous quarter. The index had touched five-year highs of Euro 86.50 per cubic metre in 2018. Since then, it has been witnessing continuous decline. The biggest price declines in local currency were reported in the Baltic States, the Czech Republic, Norway and Central Europe.

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The WRQ noted that global log trade rebounded during Q3 2020. The Asian region reported boosted log imports. China imported 13.5 million cubic metres of log in Q3 last year, higher by 65% from the corresponding quarter a year before. The major import sources were New Zealand, Germany, Australia, Russia and the U.S. On the other hand, the countries in Europe recorded lesser log import volumes, as compared with the previous two years.