Thursday September 22 at 15:00 Central European Time (09:00 EDT; 06:00 PDT)
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Stay up to date with developments on timber markets around the world with Timber Exchange Data Hub, where you can find monthly data for global production, inventory, logistics, and more. |
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TIMBER EXCHANGE: https://www.timber.exchange/
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To stay up to date with developments on timber markets around the world with TIMBER EXCHANGE Market Data Hub, where you can find monthly data for Production, Inventory, Logistics and more. Go to:
Announcing two Timber Exchange webinars and the United Bankers’ “Forest Industry Green Growth” Fund webinar
1. WEBINAR: Global Trade Implications from Russia-Ukraine War: Russ Taylor, RUSS TAYLOR GLOBAL Wednesday May 11 at 16:00 CET (10:00 EDT; 07:00 PDT); Relay link to follow.
Organized by Centersource Technologies & Timber Exchange; Moderated by Amir Rashad, CEO
Addressing some of the key issues for Russia, Europe and key importing/exporting countries. Includes new information from the Wood From Finland Conference in Helsinki that Russ Taylor attended and presented at – 400 attendees from 27 countries.
REGISTER AT: https://us06web.zoom.us/webinar/register/4416517524542/WN_rgEPwg4XTG2XlXAifBR4vQ
2. WEBINAR: Sawmilling in New Zealand: David Turner, Sequal Lumber.
Organized by Centersource Technologies & Timber Exchange and featuring David Turner, CEO of Sequal Lumber, New Zealand.
Here is the REPLAY LINK: https://us06web.zoom.us/rec/play/_2wP9LmStJm2EiILsCKwSngk7mfq89mNCQQCcsEiFtL_4fNM5066gbQwav27YCaAxFxLCTxZzcxPeK-g.Ot0iOoeB2m–L4_3
3. Introducing United Bankers’ “Forest Industry Green Growth” Fund
WEBINAR: Tuesday 10th May 2022 at 14.00–16.15 EEST (07:00 EDT; 04:00 PDT) Replay option available.
Register here by Monday May 9: https://www.anpdm.com/public/event/RegistrationForm/43435C447748475A477140
United Bankers, Helsinki, is launching a private growth equity fund investing in companies which are leading innovation in the forest and bio-based industries. Particularly, it is aiming to benefit from the ongoing transition towards fossil-free industry solutions and also in digitalisation and more efficient use of natural resources. United Bankers is providing a free webinar on May 10th for investors and interested parties to consider forest and bio-based industries as part of the solution to mitigate the global environmental risks.
Russ Taylor is a member of the Advisory Board (since 2021) and has been assisting the team to consider suitable investment opportunities in wood processing as well as other operations.
This unique fund, which is the first to focus on forest industry processing and technology, has a targeted fund size of EUR 300 million and it is focused on European, particularly Nordic, companies. The target return is a net IRR of 15%, with investment in a combination of growth equity investments, project co-investments and in selected cases buyout investments.
As well as offering strong expected returns, it also gives the opportunity for large investors to learn more about innovations in the Nordic and European forest products sector, and the opportunity to co-invest alongside the Fund in specific companies of interest.
Register here by Monday May 9: https://www.anpdm.com/public/event/RegistrationForm/43435C447748475A477140
Mark your calendars! Timber Exchange is providing more strategic webinars that address the ongoing volatility in global markets and trade:
REPLAY: https://us06web.zoom.us/webinar/register/7116501489961/WN_LbLI5o6CRpuTGa7vq9BApQ
Registration Link: https://us06web.zoom.us/webinar/register/7416501490293/WN_3mxyFqqlRtKEPdSfbodrIQ
Registration Link: TBA
Registration Link: TBA
Note: An announcement will also be made about a strategic report that will is scheduled for release in early June.
For more details about Timber Exchange, please visit: https://www.timber.exchange/
For RUSS TAYLOR GLOBAL, please visit: https://www.russtaylorglobal.com
If you do not want any further emails, please respond to russtaylor@russtaylorglobal.com and put REMOVE in the Subject Line.
UPDATE: Timber Exchange’s webinar on the China Market was completed in the early hours of March 9 (for those in North America). This webinar recording is now accessible on Zoom:
Note: The program starts at 9 minutes and 30 seconds, and Russ comes on at 19:30
China Timber Market: Dynamics, Performance & Outlook
WHEN: Wednesday March 9, 2022 at 09:00 AM Central European Time
SORRY! Midnight: Pacific Standard Time (Vancouver)
SORRY! 03:00 AM: Eastern Standard Time (New York)
But OK for China (16:00) and Melbourne (19:00), and all of Europe and ME-NA
***The free webinar will be recorded and the recording made available after the event***
Webinar Registration: https://us06web.zoom.us/webinar/register/WN_J5oLj0uyTfKJ94MN6IkD4A
SPEAKERS:
Anna Ni, Senior Advisor, Business Finland
Cece Chen, Managing Director, Frendship Group, China
Shen Wei, Deputy Secretary, CTWPDA, China
CHINA TIMBER MARKET – Analysing Dynamics, Performance & Outlook
This free webinar aims to give a comprehensive overview of the current situation on the China timber market covering a variety of aspects. Our three guest experts will give their professional outlooks on how the Chinese market is connected to other global markets, the effects the Covid-19 pandemic on logistics and consumption, new technologies on the market, and much more.
Discussion to include:
Webinar Registration: https://us06web.zoom.us/webinar/register/WN_J5oLj0uyTfKJ94MN6IkD4A
***The free webinar will be recorded and the recording made available after the event*** See: Timber Exchange ( https://www.timber.exchange ) and RTG ( https://www.russtaylorglobal.com ) for details!
AND IN CASE YOU MISSED IT:
Episode 9: Sawmilling in North Sweden and Exporting Globally
Guest: Erik Eliasson (Sales Director, Norra Timber, Sweden)
Mr Erik Eliasson, Sales Director of Norra Timber, a highly reputed timber producer in Sweden, discusses the global timber market and how Norra Timber functions in detail.
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Timber Exchange is an independent digital platform and toolkit that automates the most time-consuming processes facing companies today. What we provide is not simply a management platform, but an entire ecosystem of Forestry Supply Chain tools that includes a supply chain platform, global marketplace and data hub. https://www.timber.exchange
For questions or more information, please contact Timber Exchange or: russtaylor@russtaylorglobal.com
or www.russtaylorglobal.com And sign up for RTG news: https://russtaylorglobal.com/news/
Note: Russ Taylor continues to publish insights, analysis and forecasts in various publications. The following was published on January 20, 2022, in Austria’s Timber-Online ( https://www.timber-online.net – and contains a few updates). The article highlights the wild US lumber prices, some of the pending reductions in BC lumber production, and the increasing importance of European lumber imports into the US in 2021 and for 2022.
Article by Russ Taylor, President, Russ Taylor Global | Originally Published 20.01.2022 by TIMBER-ONLINE.net
Up to the end of January, US lumber prices (using the benchmark 2×4 W-SPF #2&Better, Random Length, FOB BC Mill) have continuously increased since the low was reached in mid-November, 2021 of US$555/Mbf (€314/m3, net). In the middle of the week of January 17, W-SPF 2×4 cash lumber prices were at US$1,220/Mbf (€691/m3 – FOB mill) – this equates to an US East Coast price of US$1,340/Mbf (€759/m3).
Russ Taylor, President, Russ Taylor Global
US Lumber Future prices for March 2022 (a loose guide to price directions) have been fluctuating wildly and touched over US$1,300/Mbf (FOB BC Mill) last week (week of January 17) but drifted lower towards cash prices (before plunging to almost $900/Mbf on February 2). However, unlike the Futures Market, the cash market is expected to remain “more stable” over the next four to six weeks.
More spectacularly, Southern Yellow Pine (SYP) 2×4 lumber prices have already eclipsed their 2021 high and were trading during the week of January 24 at US$1,491/Mbf (US South-west, FOB Mill), or €845/m3. The SYP price peaked (for now, at least) at US$1,510/Mbf on January 28. An FOB mill normal price spread between SYP and W-SPF lumber is around US$50-80/Mbf (€37/m3). The current spread that week of US$271/Mbf (€154/m3) is huge and indicates that there could be substantially more upward movement in SPF prices to narrow the price gap with SYP lumber (or, alternatively, a downward correction in SYP prices).
And OSB prices continue to soar – in early February, prices were over US$1,000/Msf and still rising!
Clearly, there continue to be on-going events that are creating more volatile markets, as they did in 2021. It is much the same story, however, as transportation disruptions, severe weather changes, and COVID-19 are all key factors that continue to negatively impact supply chains in North America and around the world. With reductions in workforces through the production, logistic and distribution channels, inconsistent production coupled with late shipments and poor logistics are motivating buyers to increase orders, in some cases no matter what the price, so that they have enough stock for customers.
Other new factors include the December 2021 increase in the US import duty on Canadian lumber shipments – this increased from 9% to 17.91% from the mandatory annual review conducted by US Department of Commerce. This has caused more outrage by various consumer and industry associations, as already tight lumber availability from Canada coupled with higher prices are simply being passed on to consumers. This has a knock-on effect with builders and is also contributing to record levels of inflation in the US.
British Columbia has seen it fair share of wood products production and logistic disruptions since mid-November and more impacts to output are coming. First there were a series of “atmospheric rivers” – or intense wind and rainstorms – that hit parts of southern BC causing massive washouts of bridges and roads as well as severe flooding from rivers spilling their banks. This event shook US lumber markets and essentially kick-started the current lumber price rally.
Further reductions in the lumber supply BC could start to show up in first quarter from new provincial government policies being proposed that will reduce the timber harvest in BC. The government rammed through multiple reforms in the fall legislative sitting that will create permanent reductions in the timber supply. This includes a 7% reduction from old-growth forest set asides, transfers of forest tenures from companies to First Nations, and possibly to secondary wood manufacturers. As part of the old-growth timber deferral process, harvesting is being temporary halted by the government agency (BC Timber Sales) representing 20% of BC’s harvest and licensees may not be able to log on any old-growth stands in their forest licenses, including those that have existing permits. This will particularly impact the western red cedar business – both sawmills and secondary processors. In combination with caribou habitat protection, somewhere between 1 and 2 billion board feet (1.6 to 3.2 million m3) of production will be lost by 2030 from these new policies alone, and much of it sooner than this.
Why are European lumber exports to the US so important?
Simply put, the US and Canada cannot meet the net lumber demand required by the US in the short-term, so European imports are required. In analyzing the North America lumber market for the first 10 months of the year and extrapolating to the end of 2021, the sources of incremental volumes for the year in comparison to 2020 tell a critical story. Incremental volumes in 2021 from Europe will provide the second largest increase in US lumber supplies with a net increase of about 400 million bf (620,000 m3)! The largest incremental volume was from Canada, led by BC (almost 1 billion bf, or 1.55 million m3). Despite the huge sawmill capacity increases in the US South, incremental volumes from there will amount to just 330 million bf (510,000 m3) in 2021, followed by the rest of the US regions at 240 million bf (370,000 m3).
Of the incremental lumber volume required to meet US consumption (plus increased US exports), a total of 2 billion bf (3.1 million m3) of addition volume is required in 2021. Europe imports will represent about 20% of this incremental volume in 2021 and a similar increase in volume (or more) will be required for 2022 for the US to meet total demand. While the largest incremental supplier to the US in 2021 was Canada, any increase in production and export volumes will be much lower in 2022, especially from the pending timber supply reductions that are already impacting BC. BC provided the largest incremental volumes to the US in 2021 – over 900 million bf ( 1.4 million m3) and almost 95% of Canada’s volume increase – but only small increases are expected from BC in 2022. This will require Europe to potentially provide even higher incremental lumber volumes to the US in 2022 to meet the expected US demand! This could be quite a challenge, but also a terrific opportunity for European lumber exporters.
Source: Russ Taylor, RUSS TAYLOR GLOBAL originally published on Timber-Online – https://www.timber-online.net/
Timber-Online (in English) and Holz Kurier (in German) are two excellent sources of industry and market information in Europe and for key export markets. Regular industry and market updates are provided twice per week in Timber-Online on logs, lumber, wood products, bio-energy, the economy, etc. Along with Data Cube (numerous monthly statistical series on production, imports, exports, prices, economy, etc.), the website offers lots of relevant information. Overall, this is a great source of practical European and global information and statistics on the log and wood products trade.
Subscribe to the free newsletter and ensure that you will not miss any offers or news on Timber-Online.net . Register on any of the opening pages (right-hand side) at: https://www.timber-online.net/
Special Offer from RUSS TAYLOR GLOBAL:
Complimentary copy of the newsletter, View from the Stump – an insightful look at the dynamics in the BC forest industry
The View from The Stump newsletter is a ground-level perspective of the BC forest industry and fills a void on what is really happening in BC timber, lumber and key markets. David Elstone is the publisher and editor of the report, and his almost 30-years of forest industry experience includes that of a field forester, equity analyst and executive director of the BC Truck Loggers Association.
The newsletter brings a unique and strategic perspective to the decision-making process for BC businesses as well as those wanting more insights into the industry, including government forest policy. The objective of each edition is to provide an analysis of key issues affecting the BC forest industry and its supply chain, up-to-date snapshots of key BC Forest Industry Metrics (stumpage, log prices, harvest, lumber production, log exports and lumber production), and other relevant updates for local businesses as well as those from international regions. As there are numerous current and pending issues that are impacting the BC forest industry, subscribers can obtain timely analysis and up to date trends on what is really going on in BC.
As a supporter and collaborator with David, he is offering my RUSS TAYLOR GLOBAL network a complimentary issue of latest View from The Stump newsletter that was released on January 31. If you would like a copy, please contact David directly at: david@spartreegroup.com and reference this RUSS TAYLOR GLOBAL Special Offer. And please consider subscribing!
Regards
Russ Taylor, President, RUSS TAYLOR GLOBAL
PS – Here is what is covered in the January 2022 Issue:
ANALYSIS: PAGE
A New Year, But No New Answers On Old Growth Deferrals 2
China’s Impact On The BC Forest Industry 3
Getting More From Less – BC Timber Harvest 2021 7
STATISTICS:
BC Coast Forest Industry Metrics 9
BC Interior Forest Industry Metrics 10
BC Forest Industry Metrics 11
BC Forest Industry Metrics – Quarterly View 12
TRENDS:
Fundamentals & Forecasts 13
Canadian Mill Watch 14
The Radar Screen 15
Or for more details and some back issues, visit Spar Tree Group: https://www.spartreegroup.com/
Timber Exchange by Centersource Technologies https://www.timber.exchange/
Timber Exchange is a one-of-a-kind end-to-end supply-chain automation platform. It is s meant for global trade management to provide the forestry industry with a smooth-functioning flow of operations.
Have you missed any of the 3 events this month? Here is your change to catch up now!
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1. Discussing the American Grading System: Speakers – Timber Products Inspection
| View Webinar |
2. Dynamics of the India Timber Market & Outlook: Speaker – Ayush Gupta, Director, Shreek AK Impex LLP
Fill in form to get instant access!
3. Analyzing Carrier & Port Performance – Congestion, Blank Sailings & Dwell Times: Speaker – Josh Brazil, Project 44
| Listen on Spotify |
4. And visit the Timber Exchange Market Data Hub for global statistics, prices, inventories, etc.
Details on all three speakers and topics are below:
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| View Webinar |
We bring on board Mr Ayush Gupta (Director, Shreek AK Impex LLP) to discuss the current situation of the timber market in India, logistical aspects and what the future has in store for the Indian timber market, among other subjects
| Listen on Spotify |
This WEBINAR with Josh Brazil of Project 44 covers:
| View Webinar |
Any questions? Let me know or contact Timber Exchange directly at:
You are invited to attend the complimentary Webinar with Timber Product Inspection on Tuesday January 18th
| Zoom event registration link: https://us06web.zoom.us/webinar/register/WN_IUFp8E4ASCiqBizqHEVgBA
As part of my Advisor Role with Timber Exchange in Sweden, I would like to invite you to attend our upcoming Webinar with Timber Product Inspection on Tuesday January 18th at 13:30 Central European time, or 07:30 EST and 04:30 PST (sorry!) A replay will be available later in the week! The event will be a panel discussion with our two guests:
Together they can give a comprehensive overview of the timber grading rules, their history, function, application, sawmill qualification process, inspection and more. This webinar will follow the following structure:
Followed by a Q&A session with the audience We look forward to your attendance at the Webinar and/or its replay! Register for Webinar: https://us06web.zoom.us/webinar/register/WN_IUFp8E4ASCiqBizqHEVgBA To stay up to date with developments on timber markets around the world with Timber Exchange Data Hub, where you can find monthly data for Production, Inventory, Logistics and more. Timber Exchange – Automation Tools | B2B Marketplace https://www.timber.exchange Timber Exchange is an independent digital platform and toolkit that automates the most time-consuming processes facing companies today. What we provide is not simply a management platform, but an entire ecosystem of Forestry Supply Chain tools that includes a supply chain platform, global marketplace and data hub. Regards Russ russtaylor@russtaylorglobal.com www.russtaylorglobal.com |
