Woodpulp port stocks in Europe increase an estimated 2.2% in June over May and move up 1.1% year-over-year: Europulp

Diane Keaton

LOS ANGELES , July 18, 2014 (Industry Intelligence Inc.) – European woodpulp port stocks rose an estimated 22,670 tonnes in June over May, or 2.2%, to 1,035,592 tonnes, according to Europulp data released today. 

The June 2014 stocks moved up 11,251 tonnes, or 1.1%, from those of June 2013.

The June figures reversed two consecutive months of month-over-month drops. Until March, the stocks had been increasing since the most recent low, in November 2013, of 1,018,849 tonnes.

Inventories have been above 1 million tonnes for 13 months in a row, but they are 192,202 tonnes below those of the recent peak, in August, of 1,227,794 tonnes.

The June figures are less than certain because Europulp has estimated the stocks for the U.K. and Netherlands. It has been estimating the U.K. stocks since November and it also estimated the Netherlands stocks for April and May. As well, it has made estimates for some of the other countries in recent months. But it has made no adjustments in subsequent reports.

Following are the country-by-country June 2014 figures, in tonnes, including the estimations: (respective June-over-May and year-over-year percentages in parentheses): Netherlands/Belgium — 358,938 (-2.2%; -3.8%); France — 130,644 (-0.4%; 17.5%), U.K. — 40,558 (-0.2%; -6.3%); Germany — 126,452 (18.8%; 0.9%); Switzerland — 4,352 (-16.0%; -6.5%); Italy — 303,259 (1.9%; -8.7%); Spain — 71,389 (10.5%; 107.3%).

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. However, looking at month-over-month changes compared to the previous 15 years, June port stocks, compared to those in May, have risen 10 times.

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