Timber Market and News from the UK
¡¾2002.05.27¡¿

Demand for African logs remains weak but prices are remarkably steady with only slight losses seen. The UK market for Brazilian Mahogany is in a mess according to the trade with no-one knowing what will happen in the future. The impression given is that most expect the market to collapse.

The bank rate remains unchanged with the Bank of England performing a balancing act, at future reviews a hike in rates is expected.

Housing starts have increased by 8 percent year on year but manufacturing output fell by 6.8 percent year on year in the first quarter.

A new code of conduct prepared by the UK Timber Trade Federation (TTF) will directly affect some producer countries and shippers need to get details so they can understand the new requirements: try

http://www.ttf.co.uk/ or direct to
www.ttf.co.uk/promotion/cas/code_of_conduct_final.pdf

In company news, TIMBMET's amalgamation with Silverman is the current talking point. This makes, the combined company the most important player in the tropical timber market in the UK. The tropical timber trade is waiting for the new European Commission rulings regarding imported wood and wood products