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01 – 15th September  2019


US Dollar Exchange Rates of  10th September 2019
China Yuan 7.1167


Report from China
 

 

  Decline in log imports
China¡¯s log imports in the first half of 2019 totalled 29.56 million cubic metres valued at US$5 billion, a year on year decline of 2% in volume and 14% in value. The average price for imported logs was US$169 per cubic metre, a year on year drop of 12%.


Of total log imports, softwood log imports rose 5% to 21.06 million cubic metres, accounting for 71% of the national total, one percentage higher than in the same period in 2018. The average price for imported softwood logs was US$135 per cubic metre, down 3% on levels in the first half of 2018.


Hardwood log imports fell 16% to 8.50 million cubic metres in the first half of 2019 and accounted for 29% of the national total, a 1% drop year on year. The average price for imported hardwood logs was US$254 per cubic metre, down 12% on levels in 2018.


Of total hardwood log imports, tropical log imports in the first half of 2019 totalled 3.84 million cubic metres, down 12% year on year and accounted for 13% of the national total, a year on year decrease of 6%. The value of tropical log imports in the first half of 2019 was US$1.27 billion reflecting a 25% decline year on year.


First half tropical log imports plunge
Before its log export ban, Myanmar was a major source of tropical logs for China. However, China¡¯s log imports from Myanmar in the first half of 2019 fell to just 6,865 cubic metres valued at US$8.4 million, down year on year by 36% in volume and 44% in value.


The average price for imported logs from Myanmar in the first half of 2019 was US$1,224 per cubic metre, down 10% year on year.


The average price for imported tropical logs in the first half of 2019 was US$330 per cubic metre, a year on year rise of 6%. China imported tropical logs mainly from Papua New Guinea (27%), Solomon Islands (23%), Equatorial Guinea (14%), the Republic of Congo (9%) and Cameroon (7%).


Just 10 countries supplied 90% of China¡¯s tropical log requirements in the first half of 2019.

Tropical log imports from Gambia and the Republic of Congo surged 344% and 61% respectively. Countries from which tropical log imports declined greatly included Mozambique (-42%), Sierra Leone (-32%), Cameroon (-21%), Ghana (-19%) and Suriname (-16%).

Plywood exports to US plunge ¨C sharp rise in exports to Uzbekistan
In the first half of 2019 the volume of China¡¯s plywood exports came to 5.07 million cubic metres valued at US$2.23 billion, a year on year decline of 9% and 17% respectively.

The markets for China¡¯s plywood exports are very varied. The top 10 export markets accounted for just 50% of total exports in the first half of 2019.

The volume of China¡¯s plywood first half 2019 export to the US dropped by 61% year on year to 283,000 cubic metres. In contrast the volume of China¡¯s plywood export to Uzbekistan surged to 140,000 cubic metres.

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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