Finnish timber trade maintains high prices in July amid signs of price stabilisation

The Finnish timber trade maintained high prices in July, with delivery sales continuing to rise, although there was a pause in the price increase in warehouse sales. According to the Finland's Institute of Natural Resources (Luke)Timber trade volumes soared, reaching levels 50% above the five-year average. Cumulative timber trade volumes from January to July were 6% above the previous year's figures and 19% above the five-year average.

In inventory sales, prices for spruce logs averaged just under 83 euros per cubic meter, while pine was around 80 euros. In real terms, these prices were more than 10% higher than the previous year's average. Birch logs remained stable at 67 euros. Prices for pulpwood also stagnated in inventory sales, with spruce logs above 34 euros and birch and pine logs around 33 euros, 24-28% higher than in 2023.

Delivery sales of pulpwood continued to rise. Spruce cost almost 53 euros and birch and pine just under 52 euros per cubic meter. Prices rose by 2-3% since June and were ultimately 10-14% above the previous year's figure.

Although July saw a seasonal decline in timber trade, volumes were still well above normal levels. Compared to July of the previous year, trade volumes doubled and exceeded the five-year average by 50%. Roundwood volumes traded between January and July were 22% above the five-year average, while trade in pulpwood increased by 11%.

In June, Finland's roundwood harvest increased by 4%, but remained below the five-year average. Finland's imports of pulpwood fell sharply by 38% in the first half of 2024, while imports of wood chips recorded a modest increase of 4%.