US Dollar Exchange Rates of 10th July 2018
China Yuan 6.6809
Report from China
RMB depreciation
Since March the Chinese currency has depreciated by
around 6%, taking it down to almost RMB6.7 to the dollar.
This decline should be seen against the background of a
weakening Chinese economy and the strengthening of the
US dollar. Analysts write that further weakness is likely if
China uses exchange rates to support exports in its ¡®trade
war¡¯ with the US.
If indeed the Chinese authorities allow further currency
depreciation the prospects for continued global growth
will be undermined.
Zhangzhou Customs - Phytosanitary certificates for
imported logs ¨C now to be sent electronically
The Zhangzhou Customs Administration in Fujian
Province has announced that it no longer requires paper
phytosanitary certificates for logs imported through
Zhangzhou Port.
According to China Customs, to promote implementation
of a paperless system for commodity imports,
phytosanitary certificates should be provided
electronically for imported logs. As a result Chinese
importers will require foreign suppliers to provide
electronic phytosanitary certificates as soon as logs are
shipped so electronic documents can be submitted for
Customs examination.
See:
http://www.customs.gov.cn/customs/302249/302266/302267/191
0798/index.html
and
http://www.jiajumi.com/news/chn/26376.html
National standard for wooden structures
A National Standard on Wooden Structure Design
(GB50005-2017) has been approved by the Ministry of
Housing and Urban and Rural Development and will be
effective from 1 August 2018. The previous National
Standard on Wooden Structure Design (GB50005-2003)
will be abolished at the same time.
The main differences between the old and new standard
focus on:
 grading of wood quality and strength
 utilisation of a wider range of domestic
and
imported timbers
 provision of strength values for imported
and
domestic timbers
 design provisions for square timber, logs
and
composite wood products
 design provisions for glued and light wood
structures
 improved rules for stability and
connection
designs for wooden structure members
 design provisions for seismic events, fire
resistance and durability
Vietnam the top source of woodchips
China¡¯s woodchip imports in 2017 amounted to 11.45
million cubic metres valued at US$190 million, a year on
year decline of 2% in volume and 0.3% in value.
Vietnam was the main woodchip supplier to China in 2017
accounting for 41% of total woodchips imports. Imports
from Vietnam totalled 4.7 million tonnes in 2017, a year
on year increase of 12%.
The second ranked supplier of woodchips was Australia at
3.85 million tonnes, accounting for 34% of the national
total. However, in 2017 a year on year decline of 4% was
recorded for woodchip imports from Australia.
Average prices for imported woodchips from Vietnam fell
2% but from Australia rose 2% in 2017, which is the main
reason for the increase in China¡¯s woodchips imports from
Vietnam.
Plywood prices slide
Plywood prices in the domestic market have been falling
recently. When questioned dealers said that prices have
been heavily affected by the ¡®off-season market¡¯ this year
and that the number of orders was far less than in the first
half of the year.
As a result of the decline in prices many businesses
launched promotional campaigns to generate cash flow.
Industry analysts say the current ¡®off-season¡¯ downturn is
more obvious this year and has been exacerbated by the
continued pressure on construction companies by
environmental protection departments and that this has
dampened demand.
At present the wholesale price for plywood in the
Guangdong market is RMB60 to RMB65 per piece for
panels of 1220 ¡Á 2440 ¡Á 12mm.
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