US Dollar Exchange Rates of
25th
Nov
2021
China Yuan 6.393
Report from China
Real estate investment declining
In a press release the National Bureau of Statistics has
provided details of real estate development and sSales in
the first ten months of 2021. Between January and October
2021 investment in real estate development increased
7.2% year on year and was 14% higher than in the same
period in 2019.
See:
http://www.stats.gov.cn/english/PressRelease/202111/t20211116_1824580.html
October retail sales of consumer goods
The National Bureau of Statistics has also released data on
retail sales of consumer goods for October showing there
was an almost 5% rise year-on-year and a 9.4% rise
compared to the same period in 2019. In October sales of
furniture rose 2.4% year on year.
See:
http://www.stats.gov.cn/english/PressRelease/202111/t20211116_1824583.html
Rising volumes and CIF prices for log imports
According to China Customs, log imports in the third
quarter of 2021 totalled 48.4 million cubic metres valued
at US$8.617 billion (CIF), up 14% in volume and 43% in
value. The average price for imported logs was US$178
(CIF) per cubic metre, up 25% from the same period of
2020.
Of total log imports, softwood log imports rose 18% to
37.98 million cubic metres, accounting for 78% of the
national total. The average price for imported softwood
logs was US$154 (CIF) per cubic metre, up 33% from the
same period of 2020.
Hardwood log imports rose 3% to 10.42 million cubic
metres, accounting for 22% of the national total. The
average price for imported hardwood logs was US$264
(CIF) per cubic metre, up 16% from the same period of
2020.
 
Surge in log imports from Brazil and Uruguay
According to China Customs in the third quarter of 2021
log imports from Brazil and Uruguay surged 178% and
128% to 1.65 million cubic metres and 1.60 million cubic
metres respectively.
In addition log imports from New Zealand, Germany,
Russia and USA rose 35%, 50%, 3% and 26% to 15.26
million cubic metres, 9.47 million cubic metres, 5.07
million cubic metres and 3.04 million cubic metres
respectively.
Rise in CIF prices from the main suppliers
According to China¡¯s Customs the CIF prices for China¡¯s
log imports from the main suppliers, New Zealand,
Germany, Russia, USA, Brazil, Uruguay and PNG rose
15%, 34%, 11%, 118%, 17%, 23% and 90% respectively.
Log imports from Australia plunged
China¡¯s log imports from Australia plunged to 62,855
cubic metres in the third quarter of 2021, down 99% from
the same period of 2020. Australia has not been a main
supplier of logs to China. While volumes dropped the
average price for log imports from Australia rose 7% from
US$108 per cubic metre in the third quarter of 2020 to
US$116 per cubic metre in the third quarter of 2021.
China¡¯s log imports from Australian plunged because of a
ban imposed by China on imports from Australia. China
banned the import of logs from Victoria State as of 11
November 2020. This was because the quarantine service
in China detected pests in a log shipment. Customs
clearance for logs shipped from the state of Queensland
after October 31, 2020 were also not cleared. Since the
beginning of 2020 Chinese Customs has repeatedly
detected live pests such as Cerambycidae and Buprestidae
in logs imported from Australia.
In accordance with national quarantine laws and
regulations the infected logs have been treated and the
exporters notified of the non-conformance with
international standards and required to investigate the
causes and take improvement measures to avoid a
recurrence.
Decline in tropical log imports in the third
quarter of
2021
China¡¯s tropical log imports fell 14% to 4.86 million cubic
metres valued at US$1.465 billion, up 4% in value in the
third quarter of 2021.
China imported tropical logs mainly from Papua New
Guinea (32%), Solomon Islands (28%), Republic of
Congo (7.2%) and Cameroon (7%). Just 9 countries
supplied 90% (4.384 million cubic metre) of China¡¯s
tropical log requirements in the third quarter of 2021.
The decrease in the total volume of China¡¯s tropical log
imports was because imports of tropical logs from the
major suppliers, PNG, Solomon, Republic of Congo and
Cameroon fell 23%, 17%, 21% and 0.5% respectively
which resulted an overall decrease.
However, China¡¯s tropical log imports from Mozambique,
the Democratic Republic of Congo, and Sierra Leone rose
56%, 35% and 2% respectively.
CIF prices for tropical log imports
Average CIF prices for China¡¯s tropical log imports rose
21% to US$302 per cubic metre in the third quarter of
2021.
The CIF prices for most tropical log imports rose generally
for the Democratic Republic of Congo, Equatorial Guinea,
PNG, Sierra Leone and Solomon rose 38%, 33%, 13%,
22%, 15% and 14% respectively, for Cameroon, Republic
of Congo and Suriname average prices rose 6%, 4% and
1% respectively also.
However, the average CIF price for tropical log imports
from Mozambique decreased 3% in the third quarter of
2021.
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