Wood prices hit a new high in eight years How will the flooring market react?
At present, the world timber market is facing a situation of ever-increasing demand/supply, most of which come from the United States to recover the growing demand in the domestic market. Judging from the Chinese market, the highest level of China's timber import record was in 2011. Analysts predict that China will need to import about 1.82 million cubic meters of wood by 2015, which will increase by 70% from the amount of wood imports. The soaring of this data is absolutely inseparable from the contribution made by the flooring market.
Global Wood Supply Decreases Wood prices have soared to a new high in eight years.
Analysts predict that about 929,000 new homes and apartments will be built this year, driven by the growing demand in the US to recover the domestic market. This is almost 120 percent of the 2012 figure, which has helped the United States to create demand for sawn logs and timber.
Looking across the sea, it is China’s strong demand for timber imports. The U.S. Forest Service stated that log exports from Alaska, Washington, Oregon, and Northern California increased by approximately 9% to the Chinese market in the third quarter of 2012 - 62 %of. At present, the highest level of China's timber import record is in 2011, and analysts predict that China will need to import about 1.82 million cubic meters of wood by 2015. The number of imports from timber will increase by 70%.
However, due to the closure of some North American wood factories to cope with the economic downturn and the development of forest pests and diseases in some Asian countries, the global supply of wood has decreased, supply has decreased, and rising demand has caused timber prices to soar to an eight-year high.