UK Timber & Wood Products Prices

Wood Products Prices in The UK & in Holland
16-30th June 2004

News from the UK

The UK economy grew faster in the first quarter than estimated. Official figures show that GDP rose by 0.7% and year on year growth was revised up to 3.4%. According to the National Statistical Office, the rise was due to higher government spending, investment and tax income.

According to the CBI retail sales were buoyant in June helped by the mood from the Euro 2004 football tournament. Sales of beer, TV sets and football clothing were all up. The CBI's latest survey says that retailers reported that sales were up on last year.

There are signs of the housing market cooling and the rise in interest rates may now be having an effect.

Within the timber sector the assumption that interest rates will rise again is very worrying and some say rates may reach 6% by the end of next year. This will certainly mean very careful stock control and this could impact the markets for tropical timber products as delivery times become extended. The other issue is the rising cost of ocean freight because of bunker fuel costs and the demand for space by China.

Log Prices in the UK

FOB plus commission per Cu.m

Sapele 80cm+LM-C Euro 260-275

Iroko 80cm+LM-C Euro 300-320

N'Gollon70cm+ LM-C Euro 190-210

Ayous 80cm+LM-C Euro 190-200

UK Sawnwood Prices

FOB plus Commission per Cu.m

Brazilian Mahogany FAS -

Teak 1st Quality 1"x8"x8' Stg2035-2350

Tulipwood FAS 25mm Stg310-325

Cedro FAS 25mm Stg420-450

DR Meranti Sel/Btr 25mm Stg335-360

Keruing Std/Btr 25mm Stg240-260

SapeleFAS 25mm Stg330-345

Iroko FAS 25mm Stg425-460

Khaya FAS 25mm Stg340-355

Utile FAS 25mm Stg405-415

Wawa No1. C&S 25mm Stg210-220

Plywood and MDF in the UK

CIF per Cu.m

Brazilian WBP BB/CC 6mm US$570

" Mahogany 6mm

When last available US$1265

Indonesian WBP 6mm US$550-590

Eire, MDF BS1142 per 10 Sq.m CIF

12mm Stg37.70

For more information on the trends in the UK market please see www.ttjonline.com and www.hardwoodmarkets.com

Report from Holland

Prices CNF Rotterdam per ton of 50 cu ft

Malaysian DRM Bukit

KD Sel.Bet PHND in 3x5" US$1140

Malaysian Nemesu KD

Sel & Btr PHND 3"x5" US$1135

Indonesian DRM Bukit

KD Sel.Bet PHND in 3x5" US$1130

Malaysian DRM Seraya

KD Sel.Bet PHND in 3x5" US$1160-1165

Indonesian DRM Seraya

KD Sel.Bet PHND in 3x5" not available

MTCC Certified KD Seraya

Sel&Btr PHND 3x5 US$1180-1185

Merbau KD

Sel.Bet Sapfree in 3x5" not available

All based on container shipment at US$1900 per G.P. 40 ft. box. Freight variation for buyers account.