Woodpulp port stocks in Europe increase an estimated 0.4% in December over November, decline 7.0% year-over-year: Europulp

Diane Keaton

LOS ANGELES , January 16, 2014 (Industry Intelligence Inc.) – European woodpulp port stocks rose an estimated 3,675 tonnes in December over November, or 0.4%, to 1,022,524 tonnes, according to Europulp data released today. 

This follows month-over-month decreases of 11,107 tonnes in November, 115,707 tonnes in October and 82,131 tonnes in September. The November results mark the seventh straight month in which inventories surpassed 1 million tonnes, but they are more than 200,000 tonnes lower than the recent peak, in August, of 1,227,794 tonnes.

The December 2013 stocks declined an estimated 77,435 tonnes, or 7.0%, compared to those of December 2012.

The December 2013 figures are less than certain because Europulp has estimated the stocks for the U.K. Europulp also estimated the stocks for the U.K. for November and for the U.K. and France for both October and September but has made no adjustments in subsequent reports. And for August, Europulp estimated the stocks for Belgium, the U.K., and Italy, but it made no changes later.

Following are the country-by-country December 2013 figures, in tonnes, including the estimations: (respective December-over-November and year-over-year percentages in parentheses): Netherlands/Belgium — 381,729 (-8.1%; -25.0%); France — 121,649 (10.5%; 38.1%), U.K. — 40,417 (-0.6%; -7.1%); Germany — 129,718 (33.1%; -7.6%); Switzerland — 6,417 (6.2%; 9.7%); Italy — 292,629 (-0.8%; 5.1%); Spain — 49,965 (-7.6%; 45.3%).

Stats perspective. Inventories were below 1 million tonnes in May 2013 (986,027 tonnes), March 2013 (971,897 tonnes), February 2013 (966,502), and three months in 2012, including November (920,856 tonnes, October (980,455 tonnes), and June (912,478 tonnes). June 2012’s figure marked the first time inventories had fallen below 1 million tonnes since 2010 and all of the monthly stocks in 2011 were above 1 million tonnes before declining overall in 2012.

September 2011’s 1,460,219 tonnes marked the first time since April 2009 that stocks had surpassed 1.4 million tonnes, and in October, November, and December of 2011 they were in the high 1.3 million tonne range, before falling to 1.2 million tonnes in January 2012.

Data background. Europulp figures describe stocks by location, but the numbers are already included in producer and consumer inventory data.

Europulp represents the associations of pulp sellers in Belgium, France, Italy, the Netherlands, Spain, Switzerland, and the U.K. Europulp began including Spanish port stocks in its data in 2004, but its historical statistics for Spain revert back to January 2003. When Europulp began reporting statistics in 1999, it included only the Netherlands/Belgium, France, and the U.K.; the other countries have been added over the years.

As a result, it is not possible to accurately compare current data with previous years. That said, in the years since statistics became available in 1999, December port stocks, compared to those in November, have increased in 11 of the previous 14 years.

Looking at month-over-month changes compared to the previous 14 years, November port stocks, compared to those in October, have dropped in three times, October port stocks have fallen nine times, September stocks have fallen 12 times; and August stocks have risen 12 times.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.