Pulpwood, Pellet Prices Decline, Timber and Pulp Markets Improve
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The following are excerpted sections from current issues of Wood Resources Quarterly (WRQ), which is published by Wood Resources International, Seattle, Wash., USA.
Global Timber Markets
Sawlog prices in the 1Q/13 were up in practically all regions covered by the WRQ, but they were still generally lower than they were in the 1Q/12. The biggest increases from the previous quarter occurred in the Western U.S., Latvia, Finland, and Sweden. The Global Sawlog Price Index (GSPI) was up 2.4% to $86.33/cubic meter from the 4Q/12, the biggest quarter-to-quarter increase since early 2011.
Global Pulpwood Prices
Wood fiber prices were generally down in North America and up in the rest of the world during the 1Q/13. The Softwood Wood Fiber Price Index (SFPI) in the 1Q/13 was practically unchanged at $99.90/odmt from the 4Q/12. The SFPI has inched downward for seven consecutive quarters and is currently down 8.8% from the most recent peak in 2Q/11. The biggest changes in U.S. dollar terms in the 1Q/13 were the declines in chip prices in Eastern Canada (-12.4%), Japan (-8.6%), Western Canada (-7.8%), and the U.S. Northwest (-4.2%). The biggest increases came in France (+10%) and Germany (+6.9%).
Hardwood fiber prices were down in Asia and Eastern Canada in the 1Q, while they were slightly higher in Europe and Latin America compared with the 4Q/12. The Hardwood Wood Fiber Price Index (HFPI) fell by 1.1% to $103.66/odmt in the 1Q/13, and was 12% below the all-time high in the 3Q/11.
Global Pulp Markets
Global production of market pulp was 2.7% higher the first two months of this year than for the same period in 2012. Prices for NBSK (northern bleached softwood kraft) pulp have trended upward for six months and were in April about $845/metric ton in Europe. BHKP (bleached hardwood kraft pulp) prices have moved up at about the same rate.
Global Biomass Markets
The wood pellet export industry in North America has grown exponentially in a relatively short period of time. The export value has increased from an estimated $40 million in 2004 to almost $400 million in 2012. Pellet prices were close to, or at, record-high levels in all of the major markets in Europe in the 1Q/13.
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