TTF Market Statement – Oct 2021

TTF Market Statement – Oct 2021

Date Published

21 October 2021

Category

Author

TDUK

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Summary

More than seven million mof timber and panel products were imported by the UK between January and July 2021, according to the latest Timber Trade Federation (TTF) Market Statement.

Key Information

This is nearly two million m3 above the same period in 2020, and half a million m3 above 2019 levels – the UKs last ‘regular year’ before COVID-19 – which is about an 8% increase.

These record-breaking volumes of imports reflect high demand for timber products with a strong RM&I sector and a resurgent private housing market having kept supply on allocation.

Timber prices, and structural softwood in particular, experienced rapid increases over the course of 2021, a trend explored in an earlier joint timber industry Market Statement in July.

These latest TTF statistics show the average price of sawn and planed softwood in May, June and July rose by 55%, 65% and 88% respectively over their corresponding months in 2020.