US Dollar Exchange Rates of 10th September 2018
China Yuan 6.8559
Report from China
Tropical log imports jump 22% in the first quarter
China¡¯s log imports in the first quarter of 2018 totalled
14.38 million cubic metres valued at US$2.753 billion, a
year on year increase of 14% in volume and 25% in value.
The average price for imported logs was US$191 per cubic
metre, a year on year increase of 9%.
Of total log imports, softwood log imports rose 9% to 9.45
million cubic metres, accounting for 66% of the total. The
average price for imported softwood logs was US$138 per
cubic metre, up 8% on the same period of 2017.
Hardwood log imports grew 25% to 4.93 million cubic
metres in the first quarter (34% of the national total log
imports). The average price for imported hardwood logs in
the first quarter of 2018 was US$293 per cubic metre, up
5% on the same period of 2017.
Of total hardwood log imports, tropical log imports were
2.65 million cubic metres valued at US$837 million, up
22% in volume and 28% in value.
The average price for imported tropical logs was US$316
per cubic metre, up 5% on the same period of 2017.
New Zealand and Russia main sources of logs
New Zealand was the main log supplier to China in the
first quarter of 2018 accounting for 25% of total log
imports. Imports from New Zealand totaled 3.66 million
cubic metres in the first quarter of 2018, a year on year
increase of 16%.
The second ranked supplier of logs was Russia at 2.96
million cubic metres, accounting for about 21% of the
national total. In the first quarter of 2018 a year on year
decrease of 1% was recorded for log imports from Russia.
Average prices for imported logs from New Zealand rose
12% to US$142 per cubic metre, average prices for
imported logs from Russia declined 1% to US$124 per
cubic metre in the first quarter of 2018.
Increase in tropical hardwood log imports
Log imports from Sierra Leone, Laos and Equatorial
Guinea surged in the first quarter of 2018 respectively.
Countries from which tropical log imports declined
included the Republic of Congo (-48%) and Nigeria (-
11%).
The main port for tropical log imports in the first quarter
of 2018 was Nanjing Port which accounted for 83% of all
tropical log imports. The Port of Nanjing is located in
Jiangsu Province and is the largest inland port in the
world.
Tropical sawnwood imports up 24% in the first quarter
of 2018
China¡¯s sawnwood imports in the first quarter of 2018
totalled 8.28 million cubic metres valued at US$2.39
billion, a year on year increase of 5% in volume and 16%
in value. The average price for imported sawnwoods was
US$288 per cubic metre, a year on year increase of 10%.
Of total sawnwood imports, sawn softwood imports rose
0.3% to 5.37 million cubic metres, accounting for 65% of
the national total. The average price for imported sawn
softwood imports was US$206 per cubic metre, up 8% on
the same period of 2017.
Sawn hardwood imports grew 15% to 2.91 million cubic
metres (35% of the national total sawn hardwood imports).
The average price for imported sawn hardwood imports in
the first quarter of 2018 was US$441 per cubic metre, up
7% on the same period of 2017.
Of total hardwood sawnwood imports, tropical sawnwood
imports were 1.67 million cubic metres valued at US$662
million, up 24% in volume and 33% in value. The average
price for imported tropical sawnwood was US$395 per
cubic metre, up 7% on the same period of 2017.
Thailand the main tropical sawnwood supplier
Of total sawn hardwood imports, sawnwood imports from
tropical countries were 1.67 million cubic metres valued at
US$662 million, up 24% in volume and 33% in value and
accounted for 20% of the national total. The average price
for sawnwood imported from tropical countries was
US$395 per cubic metre, a year on year increase of 7%.
Five tropical countries supplied just over 90% of China¡¯s
¡®tropical¡¯ sawnwood requirements in the first quarter of
2018 namely, Thailand (72%), Gabon (7%), Indonesia
(5%), Philippines (4%), Malaysia (4%) and Cameroon
(2%).
China-Europe railway linked to Chengdu timber
distribution centre
The China-Europe Express (CR Express) train connects 48
Chinese cities with over 40 cities in 14 European countries
and is becoming a fast-track cargo option for Chinese
importers.
A China-Europe Railway Express (Chengdu) International
Timber Distribution Center has recently been established
in Chengdu municipality, Sichuan Province. The trading
centre is one of the five major markets which provide data
for the compilation of the China Timber Price Index.
This new China-Europe railway express service has
opened up further opportunities for the development of
China/EU trade, especially with the Belt and Road
countries. It is forecast that timber trade between China
and European countries will be further promoted by the
development of the new railway.
See:
http://sc.cri.cn/20180906/49452dd6-4789-22c6-2e22-
79b4eedfe217.html
 
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