Russian softwood lumber prices decreased by 22% in 2015

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Whatwood/Fordaq
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In 2015, sales of softwood lumber from Russia to foreign markets increased by 5% to 22.4 million m3. However, sales volume in value terms fell by $753 million to $2.7 billion, says WhatWood in its report. 

Thus, the price decline amounted to 22% in dollar terms. China, the major market for Russian softwood lumber, increased deliveries by 18% to 9.8 million m3, while the import value fell by 8% to $973 million.

Russia's share in the Chinese imported lumber market was about 50%. Deliveries to Uzbekistan, the second largest market, fell by 14% to 2.4 million m3, while the total import value plummetted, down to $210 million (-49%).

In the summer of 2015, imports to Egypt – the third largest consumer of Russian lumber – reached a record-high level (over 200,000 m3 monthly), but during the period from September to December 2015, the volumes were steadily declining: by 12% every month. As a result, the total annual volume increased by 33% to 1.9 million m3, while the import value fell by 3.6% to $310 million.

“The drop in the price of Russian softwood lumber on export markets is in line with the global trend of price reduction for all basic commodities. The decline in export prices was influenced by the strengthening of the US dollar against the currencies of importing countries and rising supply along with shrinking global demand,” commented WhatWood timber industry analytic agency in a press release.

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