Quarterly Market Report

Mediterranean Region

Wood treated pedestrian bridge in Southern Spain, length 820 feet


 

 

 


Madrid Office

 

January - March 2004

 

Content

 

Overview of the Spanish Timer Sector

The timber trades in Spain and Italy during 2003

Pressure Treated Lumber: A Growing Market in Spain

Spanish Window Market News: Production and Trends in 2003

Highlights of recent events

Planned Activities

 

Summary

 

A difficult first quarter in the timber trades, specially in Italy following a depressed 2003 is inducing traders to be cautious. An increase of prices for logs and ultimately sawn lumber in Scandinavia may make feel importers more positive , specially towards the second half. The Spanish market showed a high activity level with a strong increase in softwoods but unfortunately US products did not enjoyed it, despite a more attractive price levels in Euro.

 

A relevant market is starting to develop along the Spanish coasts for treated lumber. Under the pressures to a) use more extensively wood and wood products by the local administrations for recreational areas and b) widely diffused consciousness of the problems associated with tropical hardwoods, particularly from Africa; it is gaining momentum the specification of treated softwoods in a large variety of applications.

 

Overview of the Spanish Timber Sector

 

 

After the government change in Spain following the general elections on March 14th ,  there is a feeling of a complex political situation imbricated with specific problems to the wood trading. Coniferous traders are being affected by generalized low prices level. Those dealing with tropical lumber are actively seeking alternative species but with little success for the moment. Temperate hardwoods markets evolve under the strong Chinese pressure (demand) for oak and cherry, forcing prices up, linked to the reluctance of the market to accept alternative woods.

 

 

According to the Spanish Importers Association, the Spanish economy fared satisfactorily in 2003. The increase in new dwelling construction prompted the demand (growth) of wood products, in virtually all type of timbers. The evolution of the different types of imported wood products was in 2003:

 

Sawn softwoods: + 14,8%

Tropical logs: - 1,7%

Tropical sawn: + 2,3%

Oak sawn: + 2,3%

Beech sawn: + 7,6%

Broad leave veneer: + 29%

Tropical veneer: + 14,2%

All that growth has been taken up by traditional Spanish market suppliers and new players, i.e., Chile, Brazil and several central and Eastern European countries.

 

Softwoods

Softwood lumber markets are at present subdued by low prices. During the last Softwood Conference in Paris, an European forest products multinational forecasted a general overproduction scenario, which the present situation has confirmed months later. Tied to larger than average inventories in the distributors hands and a quiet demand in the respective domestic markets in Europe with a slight trend downwards, there are forecasts of a weakening demand giving way to less than average sales and skinny margins for the importer. Throughout 2003, there has been a maintained lose of Swedish sales of around 6%, from 9.3 million m3 to 8.9 for thee first 9 months relative to the figures in 2002. Sales in Europe show a lost of 4% with only gains in Spain, Ireland, and Denmark. Loses elsewhere, with Germany, -18% leading the group. Italy , -5%,importing around 250,000 m3. Sales also went poor in Japan, -7%. Finnish exports were also heavily affected with an overall –4%,  and the fall of the European markets, -6.1%, where only the UK, Spain and Greece saw positive figures.

 

Sweden produced 16.7 million m3 of sawn softwoods (16 million in 2002), where exports made up for 11.3 million(11.5 in 2002). Major export destinations of this lumber were the UK 2.65 m (2,44 in 2002), Denmark 1.3 (1,32), and Germany 0.89(1,16). Spain and Italy received 0.62 and 0.33 million cubic meters respectively.  The breakdown by class of this lumber by species and surface finishing was: sawn spruce (3.2 m), pine (3.9 m) and planned timber (3.9 m) According to the intended use of this lumber, most goes into construction (47%),  followed by packaging (19%) and mouldings (9%).

 

The Finnish production follows closely their Scandinavian neighbors with special strong presence in Japan, destination of 10% of its exports. In 2003 production reached 13,6 million cubic meters, a 3% increase over 2002,  of which 65% was sold abroad. Europe is the largest market with the UK being the number one destination with 18% of sales followed by Germany 10%, the Netherlands 7% and the rest of European markets absorbing 15% of the export volumes. Spain took 0,2 million cubic meters in 2003 and Italy 0,22 m. m3

 

Redwood lumber (pinus sylvestris) price is moving down, despite temporary upsurges. Unsorted grade moves as low as 270 euro/m3 with peaks up to 400,fifth grade planks achieve 200 Euro and 6th is in offer at 170. Accordingly, several producers are announcing a slow down of the production to contain the price deliquescence. Whitewood (picea abies) remains stable with a smooth increase forecasted in the near future, because major forest groups have sold out the output excess. In Aeim’s opinion, a shortage of large logs should be expected in Finland; the announced reduction of sawn lumber production in this country along April 2004 will contribute to the strengthening of prices. However, in 2005, the endorsement of new tax legislation in the Scandinavian country, in the form of a direct log sale tax, will prompt many forest owners to speed up sales along the current year. It is likely that log offers will pick up with a negative impact on prices for the Spanish importer. New sawmilling capacity, in the opinion of the experts, in several Eastern European countries does not seem to impact at this time the activity in the Russian or Scandinavian plants. As for US lumber imports provisional data for the first two months of 2004 show a light trend down (-4%) due probably to the strengthening of the dollar occurred through the last months.

 

Tropical and Temperate Hardwoods

 

Dealers of competing tropical lumber are seeking for alternative species due to increasing supply problems. Traditional supplying countries in Africa, where the legal logging is under tight control of the administrations do not produce regularly because of new methods of forest logging implemented. The continuation of local wars in thee region add obstacles for a regular trading. On the other hand, the demand for a traditional species, Sapelli has weakened to the point that many importers fear that African sawmills will privilege their contacts in Asia displacing the trade in Spain. Iroko demand exceeds the supply by far, consequently today it is generally agreed it is highly overvalued. In addition, the exporter in Africa rather prefers to sell its logs instead of sawn because it generates a larger and faster income, which in turns is another added problem for the sawmill and later for the importer. This situation may make to reconsider the situation by the carpenter, given the current scarcity of iroko and the price, back into Southern Pine. There are also difficulties to obtain other species. Finally, proposed alternatives are not finding enough acceptance for different reasons.

 

The situation regarding temperate hardwoods is mixed with high competition for oak from different importing countries but also it is hopped that the new East European production may soften the expectations of a price rally.

 

Imports in Spain

 

Highlights of the import balance in Spain during 2003 were:

 

-     Total lumber import value estimated in 1,29 billion Euro

-          An all time record of softwood volume imported at 2,45 million cubic meters, or 32% of the imports

-          The USA is the main supplier of forest product in value, representing 22%, Finland is the second with 18%.

-          45% of the lumber imported is produced within the boundaries of the EU area, particularly after the access of ten new members in May 1st.

-          A sensible reduction of the tropical sawn lumber imports, by –5%, while still increasing oak and beech (+7%)

-          Veneer imports growing fast (+25%) particularly temperate hardwoods.

 

According to the Spanish Timber Importers Federation, US lumber imports fell by 1/3 of the volume in 2002 but actual figures supplied from the Spanish Custom Services suggest they held virtually equal as the previous year in volume.

 

From these data it can be concluded that despite a healthy growth of the softwood imports in Spain last year,  American products merely held at the previous year volume despite a more competitive position due to a weaker dollar. It is interesting to examine the value of the imports. US softwood lumber imported during 2003 was valued in 39 million Euro, a similar volume in year 2002 was valued in 46 million Euro, Swedish imports for example grew by 4% and the value increase was over 16%, suggesting a definite preference for this type of wood by Spanish users. Another aspect noteworthy is the number of operations crossed. In this aspect US exporters served 2617 orders, by far the largest, the average order for US softwoods was 43,32 cubic meters, 65,29 cubic meters for Brazilian lumber and 366,62 m3 for the average Swedish order(for a total of 1384 operations crossed).

 

Finland, Russia and Germany are actively increasing their supplies to the Spanish market, while France and Sweden saw a modest growth and Portugal even a small loss. It is also the first time Austria appears in the statistics as an active supplier. The Austrian Promoholz organization has targeted Spain as a promissory field on the grounds of retaining a strong demand for solid wood products presently and in the short and medium term. The activity in construction is expected to continue strong ( over 8% at least) until 2008.

 

 

 

Spanish Imports by Country during 2003

Softwood Lumber (m3)

 

2003

2002

%

Total

2.407.009

2.131.522

13

Sweden

507.404

489.356

4

France

379.700

362.869

5

Portugal

340.393

344.524

-1

Finland

310.038

254.238

22

Russia

151.367

109.636

38

Germany

145.924

113.845

28

USA

114.611

113.385

1

Brazil

113.858

74.104

54

Chile

80.995

70.307

15

Poland

53.407

51.685

3

Rumania

36.420

23.800

53

Latvia

24.909

21.895

14

Austria

22.949

9.445

143

Source: Spanish Federation of Chambers of Commerce

 

It can be concluded that the Spanish industry and construction sectors demanded larger volumes of imported softwoods during 2003 but the US industry did not capture at least an equivalent share of the volume increase, rather the opposite.

 

Imports in Italy

The main supplier to the Italian market, Austria, had a decrease of  exports  in 2003 following the general trend of lumber imports. Year 2003 closed in a depressed market with a – 5.1% fall. Other traditional partners like Germany and Sweden had even worse results with –16 and –14 %. Only new suppliers like Brazil had significant gains, it is also worth noting the surprising upspring of Canada with a 28% growth over past year. The main species demanded in Italy from the USA continues to be Douglas Fir, with hemlock being of secondary importance. Unfortunately, Southern Pine is increasingly being ignored by the industry and the market, overcome by the quality of finger joint laminated material successfully introduced in the last two or three years. There are today excellent products from Russian/Baltic softwood sources. Mostly vertical grain pine (Pinus Sylvestris), larch and some spruce. It is also rather common the use of a three ply 3 x 3 ½” window scantling made from vertical grain pine with finger jointed faces. Grain and texture are matched probably with an optical scanner and the joints are hardly noticeable with the bare eye after a semitransparent stain is applied, it is available in versatile long lengths blanks. For clear grade solid window stock it is preferred the use of tight grain scantlings like old growth Western species. And where knotty pine is acceptable, Scandinavian pine (again tight grain material) with a dark brown semi transparent stain has been found as an acceptable choice instead of  Southern Pine. Hemlock took some of this back because of its excellent staining characteristics. However, since recently brown stains appear to have withered  to make place for the lighter colors of European spruce and clear vertical grain Baltic/Siberian /Eastern pine

 

 

Softwoods Imports in Italy

2002

2003

%

Austria

3.518.390

3.311.009

-5,9

Belarus

27.463

21.346

-22,3

Brazil

16.175

23.760

46,9

Canada

57.217

73.572

28,6

Finland

231.150

222.680

-3,7

Germany

853.922

712.216

-16,6

Poland

31.890

35.922

12,6

Romania

39.321

52.976

34,7

Russia

380.494

444.585

16,8

Slovak Rep.

65.749

66.093

0,5

Sweden

255.385

217.555

-14,8

Switzerland

82.447

86.035

4,4

Ukraine

100.857

117.492

16,5

USA

35.534

31.720

-10,7

Czech Republic

123.554

104.053

-15,8

Total

5.819.548

5.521.014

-5,1

 

The door market is somehow changing towards a more ample use of wood  species. Accordingly, it has been noticeable the introduction of Douglas Fir for doors observed during the recent show Saiedue 04 and also the publicity found in the wood press on Brazilian Elliotti pine doors intended for the Italian market. As a marketing bonus it was outlined the use of FSC certified  lumber in the manufacturing.

 

Pressure Treated Lumber

 

A Fast Growing Market for Softwoods in Spain

 

The increasing environmental consciousness is driving the demand of exterior use lumber from tropical hardwoods to softwoods. A growing demand from local administrations ( namely the municipalities) for the use of lumber in public open areas is prompting the introduction of treated wood in walkways, marinas, parks, golf courses (many projects of this kind are planned for the next years specially in Southern Spain) and a myriad of public places where a fragile ecosystem or little impact of implantation is needed. The use of softwoods is being considered as a means of compliance with their own environmental policies, adequate response to questions from environmental groups and cost factors alike. The implantation of those facilities are favored by the existence of a regular supply from different countries in Europe and the presence of local distributors. It is noteworthy the use of redwood (pinus sylvestris) glulam headers in a project completed recently, probably from Swedish origin. (cover photography)

 

 

 

 

Supplying temporary  service constructions to the beaches along the extensive Andalucian coast like showers, gazebos, bars, storage rooms, dune walkways, involved the use of treated lumber. This market is just now initiating, and the trend is to increasing volumes due to the novelty of its use, the little impact on these fragile areas and their seasonal usage.  The majority of coastal areas have not been furnished yet with beach facilities. Current consumption of waterborne treated lumber is estimated in 50,000 cubic meters, annually, in Spain. Part of it is provided by domestic treaters, but the major portion is being imported from a variety of sources: France, Denmark and Sweden, principally. Local treating industry is more focused in the industrial and agricultural applications. The construction, decking and DIY sector remain practically untouched, whereas there is already a consistent demand.

 

Due to the recent EU directive, the use of CCA treatment will be restricted to a few industrial applications, and starting in June 2004 other non arsenic compounds will be used instead for products intended for the consumers. The industry is in the process of adapting facilities but all together there are no expectations that the Spanish treating industry will have enough capacity to cope with the expected demand and therefore ample opportunities exist for exterior suppliers. It is probably in the decking and marine applications where more opportunities exist at this time.

 

 

Spanish Window manufacturing in 2003

 

During 2003 Spanish window production reached a 10% of the total European production, becoming the second producer in the EU. Last year 11,5 million units were manufactured, of which 71% used aluminum, 17% wood, 10% Pvc and 2% were mixed of several compositions. Altogether these figures show a stabilized situation regarding the breakdown by materials, but it must be noted strong regional differences, with the Northern region using much more wood windows than in other regions. Quite the opposite, in the touristical regions and for touristic uses, the trend is towards an increasing use of non wood frames for windows as shown in the picture. The window in the picture is a mock wood frame and shutter, pvc wrapped aluminum. This is a reflection of  the appealing of wood for the majority of users..

 

Window manufacturers continue to face increasing difficulties to use the tropical species iroko, but for the time being no clear alternatives are found. According to a door and window manufacturer in Manacor, Mallorca, today only 5% of their production is manufactured on Southern Pine, while several years ago it was predominant. A near  collapse of the Southern Pine market and the changes in preferences has led to the substitution in a very short time. Reasons being the poor outdoor performance ( must be noted that no adequate finishing treatment was provided) causing an early deterioration of the appearance and in extreme cases decay of elements, the high  occurrence of seasoning checks in the raw window stock impairing their use for window frames and a for a number of years, the strength of the dollar rising the price of the raw material to the level of tropical hardwoods. There is no doubt that this situation  forced the substitution by the carpenters.

 

 

Recent events

American Softwoods participated in the show Saiedue 2004 taking place in Bologna, Italy. Interested visitors received information on US species grades suitable for carpentry and window manufacturing. The presence in this show is of interest for the industry because it is the best opportunity to learn about changes in the industry and to promote directly to a number of window manufacturers also exhibiting at this show. In addition to the traditional use of hemlock and Douglas Fir for window frames and shutters, this year several prototypes of Douglas Fir doors could be seen at two door manufacturers booths. This may not be significant alone but at least shows some opening for the use of coniferous species in interior doors, never observed before in this market. On the pine presence, it could be observed a reduction of the presence of wood products using Southern Pine lumber. The competition from European softwoods in the same applications with improved technology ( see comment above on finger jointed window stock) is gradually reducing the use  of Southern Pine for windows and shutters.

The American Softwood’s stand was manned with the help of a SEC representative  and the support of the UK office staff.

 

A seminar on the proper finishing of softwoods in exterior carpentry is being arranged with the architects professional association in Barcelona for April 1st. This is intended to counterbalance a negative state of opinion o the use of Southern Pine in exteriors. Premature failure of exterior carpentry has won a dubious reputation for this species. This activity will address this topic and how it is overcome today with the latest protective finishing methods.