TTF Monthly Stats – November 2021
The market has proved responsive to high demand for timber in the UK with imports sourced from a far broader range of supplying countries in Q3.
Demand for timber and panel products during the summer months of 2021 was at record levels with import volumes over 3.2 million m3 in these three months alone.
August became the third consecutive month when import volumes exceeded one million m3, with softwood imports surging to meet the uplift in construction demand.
Softwood imports in June, July, and August 2021 were 33% higher than the same months in 2020, when demand for softwood began to recover during the first lockdown.
A broader spread of countries has also been supplying this softwood to the UK in these three months as compared to the same period in 2020.
Softwood import volumes significantly increased from many countries, including Latvia by 53% (+175,000m m3), Germany by 93% (+120,000 m3), and Canada by 195% (+12,000 m3).
Other product groups followed similar trends, with hardwood imports rising by 30% with substantially higher volumes arriving from the Baltics, Croatia and Hungary.
However it was softwood plywood imports which saw the most radical change in Q3 with an increase in supply from China by 372% (29,800 m3).