Since the beginning of 2017, prices for sawn timber and wood-based panels in the German wood packaging sector have only been one direction: upwards. With the exception of OSB, all HPE price index values have reached new highs. OSB has shown the highest inflation rates and has well recovered from its fall in 2015. In the fourth quarter of 2018, three out of four indices are down again. Only OSB maintains the level of the third quarter of 2018. Reasons are to be sought on the one hand in lower commodity prices, and on the other hand in a slowing and more uncertain export market.
Solid wood for pallets
The upward trend for solid wood for pallets had already begun in mid-2016. From the third quarter of 2017, it went from all-time high to all-time high. The index showed the biggest increases at the end of 2017 / beginning of 2018. After that, things progressed more slowly.
Solid wood for wooden packaging
Since the second quarter of 2017, the index for solid wood for wooden packaging has also increased and reached new record levels in the course of 2018. In the fourth quarter of 2018, it fell by 1.0% compared to the previous quarter and is still 5.1% above the previous year’s level.
Plywood for wood packaging
After a mini-low in 2016 until the beginning of 2017, when the index for plywood for wood packaging fell from around 120 points to just over 110 points, a price rally started in the second quarter of 2017 and ended at just over 140 points. In the fourth quarter of 2018, the index fell again for the first time, by 0.8%, to just under 140 points. Compared to the same quarter of the previous year, it still stands at 12.5%.
OSB for packaging
Following the entry into force of sanctions against Russia and a massive oversupply in Europe, the OSB packaging index fell below the 2009 crisis level in 2015 and remained there until the beginning of 2017. Since the second quarter of 2017, it has risen rapidly and almost reached the base level of 100 points from 2005. In the fourth quarter, however, it has been halted with an increase of only 0.2% compared to the previous quarter. Compared to the previous year, however, it is still + 17.4%.
HPE Index 4th Quarter 2018
| 100 = Qu.1/2005 | Index Q4 2018 | Change Q3 2018 | Change Q4 2017 |
| Solid wood for pallets | 175,7 | -1,60% | 5,30% |
| Solid wood for wooden packaging | 154,2 | -1,00% | 5,10% |
| Plywood for packaging | 139,5 | -0,80% | 12,50% |
| OSB for packaging | 98,7 | 0,20% | 17,40% |