US hardwood plywood imports hit lowest level since 2010

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ITTO/Fordaq
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After two months of drastic declines, US imports of hardwood plywood fell again in January this year but only by a small margin. The 147,724 cubic metres imported in January was 3% lower than the previous month, but a full 63% lower than in January 2022. This volume was the lowest since December 2010.

Imports from several top trading partners actually improved over December but was still well behind the levels from a year ago—imports from Vietnam, for example, gained 39% last month over the previous month, but were 79% less than last January. After months of volatility, imports from Russia have appeared to stabilize at a reduced level, falling less than 1% for the month but also down 79% from the previous January.

US veneer imports lag on weak Italy trade

US imports of tropical hardwood veneer fell 8% in January despite large gains by some key trading nations.

Imports from India and Cameroon were both more than double the previous month and made even higher gains over January 2022. Even imports from Ghana and China, which saw significant declines from the previous month, still more than doubled January 2022 figures.

Yet, imports from Italy, the top trading partner, fell a striking 76% from the previous month and 83% from the previous January. While it appears other suppliers may be gaining market share from Italy, veneer import figures from Italy are often erratic and not predictable by season.

This will be worth watching in the next couple of months.

Total tropical hardwood veneer imports in January outpaced those of January 2022 by 5%.

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