European softwood lumber exports to the US cooled in second quarter of 2023

Declining production in Europe has contributed to the fade in exports to the US

After a scorching start to the year, US softwood lumber imports from Europe cooled abruptly in the second quarter. That trend contributed to an overall fade in US demand for foreign lumber through the first half.

Imports from the 10 largest European suppliers fell to 428 million board feet (mmbf) in the second quarter, down 30% from the record-setting first-quarter volume of 610 mmbf and lagging the year-ago total by 12%. European shipments to the US declined to the lowest quarterly total since the last three months of 2021.

US imports from Europe through the first half reached 1.04 billion board feet (bbf), up 12% compared to the year-ago pace through June. Shipments jumped 38% in the first quarter compared to the 2022 pace through March after reaching all-time highs last year.

Many traders anticipated European exports to the US to continue a downward trend through at least the third quarter and to fall short of last year’s record levels. Declining production in Europe has contributed to the fade in exports to the US.

US softwood lumber exports slip

North American exports to offshore destinations, meanwhile, continued to flounder amid weak demand in most key markets. But a modest rebound in the second quarter mitigated the downward trend. Canadian overseas exports slipped to 769 mmbf in the first half, down 3% from the year-ago pace. US exports offshore slipped to 194 mmbf through June, down 4% from the volume shipped in the first half of 2022.

Total US imports from overseas shippers worldwide posted a 5% gain in the first half, reaching 1.32 bbf. Second-quarter volumes, however, plummeted to 575 mmbf, down 12% from the same three months in 2022 and lagging the first-quarter volume by 23%.

Plantation Pine imports declined to 219 mmbf in the first half, down 16% from the year-ago pace. US demand for Pine from South America and New Zealand has remained relatively weak all year amid ample availability of domestic Southern Pine. Imports from Canada also faded in the first half, falling 9% to 5.96 bbf. The decline pulled total imports down 6% to 7.29 bbf.

Want to learn more about the lumber market, prices, or forecasts? Check out our dedicated page for lumber, other wood products, or speak to our team about accessing our commentary, analysis, forecasts and more.

What to read next
Discover key takeaways from the North American packaging market webinar, essential for supply chain and procurement leaders in 2025.
Fastmarkets has concluded its annual industry consultation and will add new straight-length assessments for Eastern S-P-F #1&2 2x4 and 2x6 8’-16’ delivered Toronto. Fastmarkets will also assess an adder for Southern Yellow Pine #2 Prime 2x4, 2x6, and 2x8.
The last assessments for the LWC and MWC rotogravure grades will be published on July 17. The prices will be discontinued on August 21. The affected prices are: FP-GP-0027 LWC rotogravure reels 60-g, France, €/tonne FP-GP-0026 LWC rotogravure reels 60-g, Germany, €/tonne FP-GP-0083 LWC rotogravure reels 57-g, Germany, €/tonne FP-GP-0082 LWC rotogravure reels 54-g, Germany, €/tonne FP-GP-0086 MWC rotogravure reels […]
The rationale for MB-CO-0004 cobalt alloy grade, in-whs Rotterdam, $/lb had erroneously stated that an indication at $18.50-20.00 per lb was included in the assessment. This has been corrected to explain the indication was made outside of the pricing window, and had therefore been discarded. The published price is unaffected by this change. These prices are a […]
US and European wheat futures rose on Thursday May 29 amid technical buying while market participants shrugged off projections of robust crops in Russia, India and the EU.
Get insights into the European pulp & paper sector and how US tariff discussions could influence future trade agreements.