SEATTLE, WA – Global sawlog prices were higher throughout the world in the 3Q/17 and are likely to continue upward into 2018 because of strong demand for lumber in key markets, reports the Wood Resource Quarterly.
The Global Sawlog Price Index (GSPI) was up 5.1 per cent from the 2Q/17 to the 3Q/17, with the biggest price increases occurring in Europe and Oceania, according to the latest issue of the Wood Resource Quarterly.
The price increases from the 2Q/17 were generally smaller in local currencies than in U.S. dollar terms because of the weakening U.S. dollar. In U.S. dollar terms, quarter-to-quarter prices were up the most in Europe (+7.9 per cent) and Oceania (+6.1 per cent), while the upward price adjustments were more modest in North America (+2.8 per cent) and Latin America (+2.2 per cent).
The Global Sawlog Price Index (GSPI) has gone up for three consecutive quarters to reach US$75.69/m3 in the 3Q/17. With the outlook for continued strong demand for lumber in key markets and higher consumption of sawlogs, it is likely that the price index will continue upward in the coming quarters.
The GSPI price index is a volume-weighted index comprised of sawlog prices for log grades commonly used for manufacturing lumber into construction and better grade lumber in the largest log-consuming countries in the world. The indices tracks prices from the 1Q/95 to the current quarter and are published each quarter in the WRQ.