An increasing wariness about bad debts was reported by traders at a meeting of the London Hardwood Club.
Many hardwood traders also reported a good first-half year trading but expressed uncertainty about the second half.
Speakers at the market meeting included Guy Goodwin of NHG Timber, John May of James Latham and Toto Robinson of Robinson Lumber Company, based in New Orleans.
Temperate and tropical hardwood prices and availability, trade dynamics, freight rates and EU due diligence legislation were covered in discussions.
Prices paid in the UK for North American hardwoods generally have firmed during the first half, driven more by restricted supply than any great demand growth. US mills are tending to operate on a hand-to-mouth basis and keeping their cutting stock at levels which may be insufficient to allow them to respond adequately to any sudden increase in demand.
In the Far East, meranti prices started to fall at the start of the third quarter. This, combined with reduced landed stocks and rising sapele prices, has prompted importers to top up on stocks, with forward purchasing increasing.
Guy Goodwin said kiln-dried sapele was likely to continue to rise in price into the new year due to low stocks in Europe and new shipping dry orders unlikely to be available before Christmas.
In the European oak market, an increasing number of suppliers were saturating the market with supply, he said.
