Global Hardwood Fiber Price Index Surged in Q3 2020: WRI

SEATTLE (Scrap Monster): The Wood Resource International (WRI) Global Hardwood Fiber Price Index (HFPI) surged higher by 1.6% to $81.17 per odmt in third quarter of previous year. It must be noted that the Index had touched a 16-year low during the quarter prior to that.

The Index recorded increase over the prior quarter for the first time in two years. This was mainly driven by weakness in U.S. dollar against currencies of major countries except Russia. Incidentally, the currencies of Europe and Oceania appreciated between 5% and 10% over the previous quarter in Q3 last year.

The Nordic countries hardwood prices 7% in Q3 to hit close to the highest level in five years. Price hikes were also reported in Canada, Chile, France, and Germany. The highest hardwood fiber costs were reported in Japan, China, Finland, Australia, and Spain in that order. The imported wood chips accounted for high fiber costs, especially in China and Japan.

The softwood fiber costs too have gone higher during the quarter. The Global Softwood Fiber Price Index (SFPI) was up by 1.4% in Q3 2020, triggered by weakening U.S. dollar. Meantime, the softwood chip prices in the western U.S and Germany fell by 16% and 7% respectively from second quarter 2020.

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