German Lumber Exports to China Witnessed Multi-Fold Jump

SEATTLE (Scrap Monster): The newly released marker report Wood Resources Quarterly indicates significant surge in softwood lumber exports from Germany to China during the initial nine-month period of 2019.

According to the report, the trade volumes totalled 580,000 cubic metres from January to September in 2019. This compares with exports that had totalled 102,000 cubic metres in the corresponding nine-month period in 2018. The U.S. has emerged as the largest destination of lumber exports from Germany. The shipments to the U.S. have skyrocketed by almost ten-folds over the past three years. The overall German exports had totalled 8.2 million cubic metres in 2018, touching the highest level in more than a decade.

Meanwhile, Chinese lumber imports surged higher by 15% year-on-year during Jan-Sep ’19. Russia was the primary supplier, accounting for almost 60% of the total Chinese imports in the third quarter. In fact, Russia has turned out to be the largest exporter of softwood lumber, pushing Canada to second spot. The Chinese imports from Canada too were up by 18% over the previous year.

The lumber production in the U.S. and Canada recorded decline, due to waning demand and low U.S. housing sector activity. The lumber shipments from these countries too registered decline.