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China Wood Products Prices
 

01 – 15th March  2020


US Dollar Exchange Rates of  10th  March 2020
China Yuan 7.0296

Report from China 

  Slight increase in log imports in 2019
China’s log imports in 2019 totalled 60.57 million cubic
metres valued at US$9.434 billion (CIF), a year on year
increase of just 1% in volume but there was a decline in
the value of imports by 14%. The average price for
imported logs was US$156 (CIF) per cubic metre.


Of total log imports, 2019 softwood log imports rose 9%
to 45.26 million cubic metres, accounting for 75% of the
national total, 5% up on 2018. The average price for
imported softwood logs was US$125 (CIF) per cubic
metre, down 10% on levels in 2018.


Log imports from Czech Rep. and Germany soar
China’s log imports from the Czech Rep. and Germany in
2019 soared to 4.24 million cubic metres and 2.30 million
cubic metres respectively. New Zealand was the main log
supplier to China in 2019 accounting for 29% of total log
imports. Imports from New Zealand totalled 17.74 million
cubic metres in 2019, a year on year increase of 2%.


The second ranked supplier of logs was Russia at 7.75
million cubic metres, a year on year decline 28%,
accounting for about 12% of the national total, down 6%
over 2018.


Average CIF prices for imported logs from New Zealand
fell 9% to US$128 per cubic metre and from Russia CIF
prices fell 3% to US$120 per cubic metre in 2019.

Hardwood log imports
In 2019 hardwood log imports fell 15% to 15.31 million
cubic metres (25% of the national total log imports). The
average price for imported hardwood logs in 2019 was
US$248 (CIF) per cubic metre, down 14% on 2018.


Of total hardwood log imports, tropical log imports were
9.19 million cubic metres valued at US$2.275 billion CIF,
down 14% in volume and 27% in value from 2018,
accounting for 15% of the national total import volume,
down 4% on level in 2018.


The average price for imported tropical logs was US$248
CIF per cubic metre, down 21% on levels in 2018. The
value of tropical log imports in 2019 was US$2.275 billion
CIF, reflecting a 27% decline.


Before its log export ban Myanmar was a major source of
tropical logs for China. However, China’s log imports
from Myanmar in 2019 fell to just 11,245 cubic metres
valued at US$13.8 million (CIF), down 19% in volume
and 27% in value. The average price for imported logs
from Myanmar fell in 2019 to US$1,227 (CIF) per cubic
metre, down 10% over 2018.


The average price for imported tropical logs in 2019 was
US$214 per cubic metre, a year on year decline of 31%.
China imported tropical logs mainly from Papua New
Guinea (36%), Solomon Islands (26%), Equatorial Guinea
(7.2%), Republic of Congo (7.0%). Just 11 countries
supplied 95% of China’s tropical log requirements in
2019.

Log imports from Brazil, Republic of Congo and Sierra
Leone increased 190%, 18%, and 17% in 2019
respectively. However, most of countries from which
tropical log imports declined greatly included Equatorial
Guinea (-47%), CAR (-32%) and Laos (-30%).

Abbreviations

LM        Loyale Merchant, a grade of log parcel  Cu.m         Cubic Metre
QS         Qualite Superieure    Koku         0.278 Cu.m or 120BF
CI          Choix Industriel                                                       FFR            French Franc
CE         Choix Economique                                                        SQ              Sawmill Quality
CS         Choix Supplimentaire      SSQ            Select Sawmill Quality
FOB      Free-on-Board     FAS            Sawnwood Grade First and
KD        Kiln Dry                               Second 
AD        Air Dry        WBP           Water and Boil Proof
Boule    A Log Sawn Through and Through MR              Moisture Resistant
              the boards from one log are bundled                      pc         per piece      
              together                      ea                each      
BB/CC  Grade B faced and Grade C backed MBF           1000 Board Feet          
              Plywood   MDF           Medium Density Fibreboard
BF         Board Foot F.CFA         CFA Franc        
Sq.Ft     Square Foot               Price has moved up or down

Source:ITTO'  Tropical Timber Market Report

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