The Russian ruble has suffered from a severe devaluation during 2014. It has devalued from approximately 30 rubles per US dollar at the beginning of 2014, to over 55 in mid-December, and to over 60 in early January this year. Source: IHB
This evolution directly affected markets, including the timber ones.
The enormous devaluation of the ruble has had an immense impact on log and lumber prices in China’s wholesale markets, for the softwood species in particular.
This made 2014 a tough year, with 2015 starting even more off balanced.
Russian logs and lumber acquired a better competitive advantage in the Chinese market due to a weakened ruble in H2 of 2014.
The influence was especially strong in Northern China markets, such as Dalian, Tianjin, and even Qingdao ports.
Russian timber is winning back some market share from SPF lumber and especially logs from New Zealand, North America and European countries.
