Central/West Africa: EU markets underpinning price stability

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ITTO
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Producers report that demand in European markets is firm and prices are stable and that this is assisting them in maintaining price levels in other markets. Demand for okoume logs and sawnwood for the Chinese market is slow and prices have not recovered. FOB prices for okan and sapele are also under pressure as demand slows but for most of the other timbers prices are stable.

Buyers for China remain on the side-lines

West African producers report that buyers for the Chinese market are still on the side-lines so mills are scaling back log harvesting as well as mill production in an attempt to maintain prices at current levels.

There are some reports of buyers seeking sawn okoume but the prices being offered are much lower than previous contracts. Some mills are accepting the reduced offer prices but only for small volumes.

Stock levels in Middle East falling

Construction and building activity remains buoyant in most of the main Middle East markets which is sustaining demand from builders in the region. Importers in the Middle East rely on an extensive and efficient regional distribution network to supply customers and reports suggest the flow of wood products is good such that stocks are being absorbed.

As stock levels in the Middle East fall producers in West and Central Africa anticipate a rise in orders despite the continuing cautious attitude of buyers given the recent supply of low cost meranti.

Log Export Prices

West Africa logs, FOB € per m³
Asian market
LM
B
BC/C
Acajou/ Khaya/N'Gollon
230
230
160
Ayous/Obéché/Wawa
260
260
180
Azobe & Ekki
230
230
160
Belli
250
250
-
Bibolo/Dibétou
150
145
 
Iroko 330
290
260
Okoume (60% CI, 40% CE, 20% CS) (China only) 220
220
160
Moabi 335 305 225
Movingui 210
210
160
Niove
160
160
-
Okan
250
250
-
Padouk
310
285
225
Sapele 305
305
220
Sipo/Utile
345
340
265
Tali 320 320
-

                                                                                                                                               

Sawnwood Export Prices

West Africa sawnwood, FOB
€ per m³
Ayous FAS GMS 410
Bilinga FAS GMS 500
Okoumé FAS GMS
370
Merchantable 225
Std/Btr GMS 270
Sipo FAS GMS
610
FAS fixed sizes 610
FAS scantlings 640
Padouk FAS GMS 930
FAS scantlings 1000
Strips 680
Sapele FAS Spanish sizes 610
FAS scantlings 620
Iroko FAS GMS 610
Scantlings 690
Strips
440
Khaya FAS GMS
450
FAS fixed
460
Maobi FAS GMS
610
Scantlings
630
Movingui FAS GMS
420
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