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Wood Products Prices in The U.S. 

16-31th January 2013

Report from North America

  Tropical sawn hardwood imports
The US tropical hardwood market continued to recover in 2012, and year-to-date imports of tropical sawn hardwood were up 10% in November compared to 2011. November imports were 18,554 cu.m. in November, down 22% from October.


Imports of Ipe showed the strongest recovery ,with November year-to-date imports more than twice that of 2011 volumes. Jatoba and sapele imports also grew, while imports of cedro and meranti declined from the previous year.


Ecuador remains the largest supplier of tropical sawn hardwood with balsa accounting for all shipments to the US in November 2012 (3,609 cu.m.). Brazil¡¯s ipe exports declined to 1,185 cu.m. in November after reaching over 4,000 cu.m. last summer.


Cameroon¡¯s sawn sapele shipments remained relatively strong at 1,748 cu.m. in November.


Malaysia¡¯s exports of sawnwood to the US increased in November mainly because of higher keruing sawnwood shipments (1,855 cu.m.).


The Hardwood Review reports good demand for African mahogany, sapele and cedro from South America.

Canadian imports of tropical sawnwood declined to US$1.2 million in November, the lowest level since January 2012. Year-to-date imports remain 2% above 2011.


Quebec¡¯s hardwood flooring manufacturers are the key users of sawn tropical hardwood in Canada. With the US housing market rebounding, Canadian imports of tropical hardwoods are expected to grow at a faster pace.

US manufacturing expanding, led by furniture
The US manufacturing sector expanded towards the end of 2012 according to the latest survey by the Institute for Supply Management.


The manufacture of furniture and related products was the fastest-growing sector of the US economy in December.


The US Census Bureau reports a 4.6% growth in new orders for December compared with the previous month, while shipments increased by 1.3%.


New tax on sawnwood and engineered wood products
California has introduced a 1% tax on the retail price of sawnwood and engineered wood products sold in the state. The new tax came into effect January 2013 and is expected to raise US$30 million annually.


The money will be used for regulatory supervision of forest harvesting in California, thereby shifting the cost burden from the timber industry to consumers.


The new tax is assessed on so-called primary wood products with a wood content of at least 10%, but not on products assembled or processed from primary wood products.


All grades of sawnwood are taxed, also decking, railings and plywood.


The following products are not taxed: furniture, moulding, millwork and hardwood flooring. The full list of products is available at:: http://www.boe.ca.gov/industry/lumber_products.html


¡®Build American¡¯ initiative launched
A ¡®Build American¡¯ initiative was launched in January, modeled on Buy American efforts targeted at consumers. The initiative is supported by more than 180 building material manufacturers, suppliers and home builders from across the US.


On average a US home contains an estimated 65% of US-made materials (by value). The goal of the initiative is to increase this share both in new house construction and in repair and renovation of existing homes.

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Abbreviations

LM       Loyale Merchant, a grade of log parcel  Cu.m         Cubic Metre
QS        Qualite Superieure    Koku         0.278 Cu.m or 120BF
CI          Choix Industriel                                                       FFR           French Franc
CE         Choix Economique                                                        SQ              Sawmill Quality
CS         Choix Supplimentaire      SSQ            Select Sawmill Quality
FOB      Free-on-Board     FAS            Sawnwood Grade First and
KD        Kiln Dry                               Second 
AD        Air Dry        WBP           Water and Boil Proof
Boule    A Log Sawn Through and Through MR              Moisture Resistant
              the boards from one log are bundled                      pc         per piece      
              together                      ea                each      
BB/CC  Grade B faced and Grade C backed MBF           1000 Board Feet          
              Plywood   MDF           Medium Density Fibreboard
BF        Board Foot F.CFA         CFA Franc        
Sq.Ft     Square Foot              Price has moved up or down

Source: ITTO'  Tropical Timber Market Report

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