Timber Update March 2021
As we head towards the Spring, all the signs in the timber markets are pointing to a very busy quarter, as UK homeowners look to spend their holiday money on home and garden improvements. This is echoed across most of Europe and the USA and is only going to exacerbate the supply issues we are already seeing. Prices will continue to rise for most products and availability will be an issue for many.
To view our range of timber products, click here.
- Confidence in the UK’s vaccination programme is set to aid a stronger economic recovery in 2021. This is mirrored in the industry predictions seen in the Construction Product Association’s Q4 Construction Survey released this week (free access to TTF members).
- Q4 also marked a noticeable increase in inflationary pressure for the supply chain. As lockdown restrictions have been eased, the rapid recovery in construction has been replicated across developed economies such as the US and Europe, as well as developing economies in Asia, which in turn, has led to a spike in global demand for raw materials.
- For the UK, reports of shortages or transport delays for imported products such as steel, timber and white goods have been widespread. Perhaps not surprisingly, this also translated into rising cost pressures in Q4.
To read the Q4 Construction Survey, click here.
Timber Market Update
- Figures published recently by the Timber Trade Federation (TTF) show timber and panel imports reached 1.08 million m³ in November 2020, which was the highest monthly total since the October 2007 volume of 1.04 million m³. This was the second consecutive month where timber and panel imports were above the 1 million m³ mark.
- The USA Random Lengths Lumber prices passed the $1,000.00 level this month for the first time, showing the strength in demand continues and is still attracting supply away from UK and EU markets.
To read the full TTF article, click here.
Did you know that trees can communicate with each other?
In a recent BBC CrowdScience episode, presenter Marnie Chesterton reveals how right under our feet, trees use a fungal network nicknamed the ‘Wood Wide Web’ to communicate.
To listen to this BBC CrowdScience episode, click here.