US Dollar Exchange Rates of
25th
Aug
2022
China Yuan 6.8596
Report from China
Decline in sawnwood imports
In the first half of 2022 China¡¯s sawnwood imports
totalled 13.04 million cubic metres valued at US$3.835
billion, down 7% in volume but up 7% in value. The
average CIF price for sawnwood rose 16% to US$294 per
cubic metre over the same period of 2021.
Of total sawnwood imports, sawn softwood imports fell
15% to 8.25 million cubic metres, accounting for 63% of
the national total, down 6% over the same period of 2021.
The average CIF price for sawn softwood fell 4% to
US$244 per cubic metre over the same period of 2021.
Sawn hardwood imports rose 9% to 4.78 million cubic
metres because China¡¯s sawn hardwood imports from the
top sources Thailand, Russia, the Philippines and Gabon
rose 13%, 20%, 14% and 11% respectively.
Imports from Austria surged. The average CIF price
for
sawn hardwood fell slightly to US$380 per cubic metre
over the same period of 2021.
Of total sawn hardwood imports, tropical sawn hardwood
imports were 3.16 million cubic metres valued at US$954
million, up 10% in volume and 4% in value and accounted
for about 24% of the national total. The average CIF price
for tropical sawn hardwood declined 6% to US$302 per
cubic metre over the same period of 2021.
CIF prices for sawnwood imports
CIF prices for China¡¯s sawnwood imports from most
suppliers rose in the first half of 2022, except for Thailand.
Prices for sawnwood imports from Thailand alone fell 8%
to US$250 per cubic metre in the first half of the year.
The CIF prices for China¡¯s sawnwood imports from
Russia, Canada, USA and Finland increased 18%, 27%,
27% and 18% respectively. Other countries where prices
increased were Germany, Sweden, Belarus and Ukraine.
The main reasons for the rise in CIF sawnwood prices in
the first half of 2022 were: a shortage of sawnwood supply
because some producing countries have reduced harvests;
disrupted global logistics and container turn-around was
not smooth during lockdowns and strong domestic demand
in China where there is a ban on domestic harvesting of
natural forests.
Decline in the major sawn softwood suppliers
In the first half of 2022 China¡¯s sawn softwood imports
came to 8.25 million cubic metres, down 15% year on year
and accounted for 63% of the total national sawnwood
imports, down 6% over the same period of 2021.
Russia was the top sawn softwood supplier to China in the
first half of 2022. 67% of China¡¯s sawn softwood was
imported from Russia. However, China¡¯s sawn softwood
imports from Russia fell 8% to 5.542 million cubic metres.
Canada, the second largest sawn softwood supplier to
China, saw its exports of sawn softwoods fall 9% which
drove down the overall import figure.
China¡¯s sawn softwood imports from Ukraine and Brazil
plunged 72% and 64% respectively. This also resulted in
the decrease in the total volume of China¡¯s sawn softwood
imports in the first half of 2022.
Thailand, the main country shipping sawnwood
to
China
China¡¯s sawnwood imports from Thailand rose 13% to 2
million cubic metres in the first half of 2022. Thailand has
long been the main country shipping sawnwood to China
exceeding that from Canada, USA and Finland. In
addition, most of the imported sawnwood from Thailand is
sawn rubberwood which is included in ¡®Other¡¯ tropical
sawn hardwood (HS code 44072990), rubberwood does
not have a dedicated HS code.
China¡¯s redwood imports from Thailand were just 1,874
cubic metres, down 29% from the same period last year.
Teak imports from Thailand amounted to only 2 cubic
metres in the first half of 2022.
Rubberwood products are very popular in China. The
annual consumption of sawn rubberwood is about 6
million cubic metres of which 80% is imported from
Thailand. Imported sawn rubberwood is used in furniture
manufacturing (45%), wood doors (24%), bathroom
cabinets (26%), wood floors and other woodwork (5%).
Due to Thailand's investment policies Chinese enterprises
are attracted to establish sawmills in Thailand to produce
for the home market.The CIF price for sawnwood from
Thailand declined 8% during the first quarter which
boosted imports.
Rise in China¡¯s tropical sawn hardwood
imports
Of total sawn hardwood imports, tropical sawn hardwood
imports were 3.16 million cubic metres valued at US$954
million, up 10% in volume and 4% in value and accounted
for about 24% of the national total.
The Philippines and Gabon are the second and third largest
suppliers of tropical sawnwood imports after Thailand
accounting for 10% and 9% of the total tropical sawnwood
imports respectively in the first half of 2022. China¡¯s
tropical sawn hardwood imports from the Philippines and
Gabon came to 317,000 cubic meters and 298,000 cubic
metere, up 14% and 11% respectively in the first half of
2022.
The top 10 countries supplied 94% of China¡¯s tropical
sawnwood requirements in the first half of 2022, namely
Thailand (63%), the Philippines (10%), Gabon (9%),
Malaysia (2.1%), Cameroon (2.0%), Myanmar (1.9%),
Indonesia (1.7%), Laos (1.2%), Vietnam (1.0%) and the
Republic of Congo (0.9%).
  
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