The upward trend of global softwood lumber prices is charted in the latest market update from Wood Resource Quarterly.

Higher prices during the first six months of 2016 are due to higher demand and a weaker dollar.

The report says the major importing countries have imported more lumber during the first six months, with few exceptions.

Demand for softwood lumber in the US has expanded continually so far in 2016. During the first five months lumber consumption was 14.2% higher than during the same period in 2015.

The increased demand was predominantly met with higher production by sawmills in the US South, a substantial rise in import volumes from Canada (up 40%) and incrementally more shipments from Europe, says Wood Resource Quarterly.

Prices in the US reached their highest levels in August since early 2015.

In Northern Europe weaker currencies in the Nordic countries have resulted in more competitive prices for lumber in 2015 and 2016. Prices in 2016 are among the lowest they have been since 2005.

Finland is on pace to increase export volumes for the seventh consecutive year in 2016. During the first five months, the export shipments were up almost 15% compared to the same period in 2015.

The biggest increases have been to non-European countries including Egypt, Japan, China and Saudi Arabia.

(Source: ttjonline.com)