US Dollar Exchange Rates of
10th
Jul
2024
China Yuan 7.28
Report from China
Investment in real estate
Between January and May there was a year-on-year
decline of 10% in total investment in real estate and a
10.6% decline in investment in residential buildings.
Between January and May the floor space under
construction was down by almost 12% year on year and
the floor space of residential buildings under construction
was down by 12%.
See:
https://www.stats.gov.cn/english/PressRelease/202406/t2024062
5_1955165.html
New formaldehyde emission standard for woodbased
panels
A revised "Interior decoration materials wood-based panel
and products formaldehyde emission limit" has been
drafted. The revision of the national mandatory standard
for the industry will usher in a new round of industrial
quality improvements. The revised national standard will
introduce formaldehyde emission E0 level for the first
time.
Production of ‘green’ wood products
The Nanxun wood industry has stable industrial supply
chain and great brand influence and is one of the 100
characteristic industries for quality improvement in
Zhejiang Province. At present, there are 68 green product
certification enterprises and 99 certified products in the
province.
There are 61 enterprises certified as "Made in Zhejiang"
and 77 certified products. There are 2 national green
factories, 2 provincial and municipal government quality
awards and enterprises have participated in the preparation
and revision of 5 international standards and more than
160 national and industry standards.
Nanxun District Market Supervision Bureau regards
quality improvement and green development of the wood
industry as key to success of the industry and has
successively issued policy documents to promote the high-
quality development of the wood industry. For example it
approved the national home decoration product
standardisation pilot (wood flooring) project.
Nanxun City took the lead in Zhejiang Province in
formulating and releasing the "Green Production of Wood
Industry Technical Specification for Raw Material Source
Replacement and Waste Gas Treatment with Low Volatile
Organic Compounds Content" Standard guiding
enterprises to speed up the development of green and high
quality products.
Imported rubberwood price increasing
The latest Customs data shows that, in the first five
months of 2024, China's imports of rubberwood from
Thailand increased by 27% to 2.12 million cubic metres
and the value of rubberwood imports also rose 32% to
US$530 million.
However, recent news from the Thai Rubber Association
suggests rubberwood shippers have begun to raise prices.
It is reported that the export price increase for Thai
rubberwood is not merely rumour but has been driven by
the following reasons:
Raw material costs are rising. The arrival of the
rain season created challenges for collection and
transportation of rubberwood logs resulting in a
tight supply.
Surge in shipping costs. Sharp fluctuations in
international shipping rates have increased
shipping costs pushing up landed prices.
Market price is rebounding. The rubberwood
market price had been at a low level for a long
time (ranging from US$200-400 per cubic metre)
but a rebound in prices has become the market
consensus.
Over the past months the price of Thai rubberwood
imported by China has shown a clear upward trend. Since
February the average unit price (CIF) of Thai rubberwood
has shown a month-on-month increasing trend. Compared
to the same period in 2023 prices edged up 1% in February
then increased by 3% in March and again rose 7% in
April.
Given that Thailand is the main source of China's
rubberwood import, the sharp increase in prices will have
a direct impact on the Chinese demand. It is anticipated
that the price of rubberwood arriving in the third quarter of
2024 cost even more.
Thailand largest supplier of particleboard imports
According to China Customs in the first quarter of 2024
China’s particleboard imports from Thailand amounted to
54,000 tonnes valued at US$13 million, up 59% in volume
and 45% in value over the same period of 2023 making
Thailand the top shipper to China.
China’s total particleboard imports were 155,000 tonnes
valued at US$60 million in the first quarter of 2024, up
36% in volume and 13% over the same period of 2023.
China’s particleboard imports from Brazil, the second
largest supplier, rose 56% to 32,000 tonnes in the first
quarter of 2024 and this contributed to the rise in total
particleboard imports.
In addition, China’s particleboard imports from Malaysia,
Poland and Vietnam surged more than 100%, 700% and
200% respectively in the first quarter of 2024 resulting in
the increase in total of particleboard imports. In contrast,
China’s particleboard imports from Romania, alone among
the top suppliers, fell 49% to 10,000 tonnes in the first
quarter of 2024.
Surge in fibreboard exports to Saudi Arabia
According to China Customs, fibreboard exports to Saudi
Arabia surged 159% to 93,000 tonnes in the first quarter of
2024. In the first quarter of 2024 China’s fibreboard
exports totalled 608,000 tonnes valued at US$312 million,
up 33% in volume and 24% in value from the same period
of 2023.
China’s fibreboard exports to Mexico, Vietnam, USA,
Canada, Algeria and Australia increased at different rates
in the first quarter of 2024. But fibreboard exports to
Nigeria, UAE and Russia fell.
Decline in fibreboard imports from Thailand
China’s fibreboard imports from Thailand dropped 39% to
1,300 tonnes and imports from Indonesia fell 8% in the
first quarter of 2024. In contrast, fibreboard imports from
all top destination countries rose with imports from
Belgium, Spain, Russia, Switzerland and Netherlands
rising sharply.
In the first quarter of 2024 China’s fibreboard imports
grew 9% to 92,000 tonnes due to surge in imports from
most countries compared to the same period in 2023.
 
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