Strong business to European and Asian buyers saw shipments of North American hardwood lumber increase in June, despite tight supply caused by unusually wet weather.
Latest figures from the Hardwood Review Global for export shipments through the first four months of the year were 3.4% ahead of 2003, but shipment values were up 10.3%, or US$44.8m. With stronger demand, species such as white oak and cherry were in tight supply.
The growing US domestic economy is fuelling more demand for lumber, particularly with continued strong housing markets. As such, demand is growing for flooring, cabinets and millwork of all kinds.
Hardwood log exports were stable, but there has been more interest in the past month from Asian buyers for lower-grade, two-sided logs. Log costs have continued to increase, while reports indicate that veneer manufacturers may soon step up buying which will make the tight log supply more serious.
Exports to southern Europe were strong in June, with heavy demand from Spanish, Portuguese and Italian buyers straining North American white oak supplies. North American hardwood shipments to the UK were steady, with white oak and ash the biggest sellers.
