The US imported much more timber in July. There was a 21% increase in imports from June to July. The largest increase came from an influx of lumber from Canada, where a large portion of US imports come from. The US imported 56% more lumber from Chile, while New Zealand supply fell behind Chile’s, falling 13% from June to July. There were also increases in softwood moulding imports from South and Central America.
Imports from New Zealand increased by 12%, a relatively modest increase when compared to the increase in supply from the major suppliers to the US. China, which usually supplies a similar volume to the US to New Zealand’s supply, increased their supply by 33%. The US Construction Materials Cost Index, produced by Crow’s Market Reports in the US, tracks lumber prices in the Southern and Western regions of the US. Both indices remained flat this month after recent increases. These indices are good indicators of growth in the housing market in the US and reflect demand in the US for timber.