UPM complains of market fluctuations due to Russian birch plywood illegally entering Europe

In the first quarter of 2024, the plywood market saw notable shifts in demand patterns, UPM reports. Specifically, there was a positive trend in the demand for spruce plywood and veneer, indicating potential market growth. Additionally, birch plywood experienced increased demand, particularly in panel trading, albeit with delivery challenges due to seasonal factors. However, the market faced hurdles with the infiltration of illegal Russian plywood into Europe, impacting the European birch plywood balance. Operationally, UPM Plywood Division underwent adjustments to align production capacity with demand fluctuations. Temporary layoffs were implemented across all mills, reflecting a proactive approach to maintain ...