Still No Change in Depressed Market Conditions – ITTO European Market Report 11th March 2009

There is little change in the European market for tropical sawn lumber. There is still very little forward demand for sapele, the main commodity species, as large importers in the UK and the Benelux countries continue to off-load stocks at below replacement value. Due to very slim margins, there is very limited incentive for importers to engage in trade in this species – as one major UK importer commented recently “I haven’t made any money on sapele in over a year”. He noted that the same could be said of sipo, although a few other lower volume species have been performing a little better, for example iroko and framire.

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