TTF industry figures for June show 22% drop in imports

10 June 2020


Q1 2020 solid wood imports were 23% lower year-on-year and panel products dropped 22%

The worst Q1 figures for seven years were almost entirely down to the coronavirus epidemic. Supply and demand took an instant hit with added supply chain disruption caused the industry to pause and re-group.

The construction sector was one of the first industries to re-open, albeit with some restrictions still in place to several sub-sectors of the industry. Overall, TTF members reported a drop in month-on-month sales of 60% for April and 40% lower than 2019.

Softwood sales dropped 24%, hardwood by 10%, plywood imports were 22% lower, particleboard dropped 32%, OSB 25% and MDF 7%.

Sweden secured 45% of the softwood market, but only by being the least-worst performer as part of the overall 24% drop in volumes. Total volume for Q1 was 1,346,000m3 compared to 1,767,000m3 for Q1 2019.

Hardwoods were more stable with North America increasing its share to 21% of the overall market (up from 19% last year) but the combined European tally  reduced by three percentage points to 63% overall. Total volumes of Hardwood stood at 123,000m3 compared to 136,000m3 in Q1 2019.

Q2 figures should show an improved picture as much of the construction industry and many timber merchants were re-opened for business during that period.