The latest TDUK import stats reveal that UK timber and panel product imports were much higher in October 2024, resulting in an overall 15% uplift in imports.
TDUK says October’s surge in demand is the latest positive sign in a year of gradual improvements in volumes, which has seen the cumulative deficit for 2024 to date, when compared with the previous year, reduce to just 1.2% for all products.
The volume deficit for softwoods was effectively wiped out in October at just -0.3%, and OSB volumes have moved ahead of last year’s figures.
Softwood imports in October 2024 were around 11% higher than in October 2023, driven by a near doubling of planed pine imports. Swedish imports accounted for the majority of this total, with volumes from Latvia also higher. Sweden maintained its position as the UK’s biggest softwood supplying country, providing 47% of all imports.
October also saw an 18,000m3 surge in the volume of temperate species of imported hardwood plywoods, driven mainly from China, with the monthly total 50% higher than any of the preceding months of 2024.
Increases in softwood plywood imports this month were proportionally greater than for any other timber product, with Brazil supplying 10,500m3 more and Finland over 2,000m3 more.
Volumes of unworked OSB also increased sharply with an 11,000m3 rise in Latvian imports, as well as a 3,000m3 increase from Germany. Average prices from Germany fell by 9% between June and October, which may have had an impact on volumes, although Latvian prices only fell by 2% and still enjoyed a significant rise.
Hardwood imports throughout the first 10 months of 2024 were around 18,000m3 below the same period in 2023. Just over half of this shortfall was accounted for by lower volumes from the USA and Cameroon, though the other five top supplying countries collectively supplied almost 10,000m3 more volumes during the same period, helping to offset some of this fall.
The UK imported around 9,000m3 less temperate hardwood, mostly accounted for by lower volumes from the USA, Croatia and Germany. The highest growth came from Romania with an increase of 2,500m3, with increased volumes from Estonia and France as well.
“The 15% growth in import volumes seen in October 2024 was exceptional when compared to the previous months, and it is certainly positive news that the cumulative import deficit between 2024 and 2023 is continuing to reduce,” said TDUK head of technical and trade Nick Boulton.
“However, it is important to note that general sentiment in the sector would suggest that this monthly surge is a singular event, as opposed to a sign of significant sustained growth, with volumes for November 2024 expected to return to more ‘normal’ levels.”
TDUK members can sign in and read the full report on the TDUK website.
