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Japan
Wood Products Prices
Dollar
Exchange Rates of 23th March 2006
Japan
Yen 117.66
Reports
From Japan
Malaysian ply unable to offset dwindling imports
Total supply of plywood in the Japanese market was 689,000 m3 in January, up 16.1% from December but down 1.9% from January 2005. Japanese imports of plywood (regular and special plywood and block board) rose to 446,000 m3 in January, up 38% from December.
By source, imports from Malaysia and Indonesia in
January were 247,000 m3 (up 20.9% from December) and 142,000 m3 (down 29.4%, the 16th consecutive
decline), respectively. The surge in Malaysian plywood could not offset dwindling imports from Indonesia. However, Malaysia secured a 55.3% market share, the largest percentage ever. Plywood imports from China, the third largest supplier, continued to grow reaching 49,000 m3, up 43% and the largest monthly amount ever.
Price negotiations delay stock replenishment
Japanese stocks of Southeast Asian logs are declining amid the persistent gap between export prices and Japan’s prices due to dull demand. Conversely, the export of raw timber materials from Malaysia and Indonesia to other countries is comparatively smooth.
Movement of plywood in Japan was largely slow in March as the season is low for housing starts. Some wholesalers fear that current inventories could dry up quickly if demand surges suddenly.
Housing starts dip in January
Housing starts declined to 92,899 units in January, down 2.2% from the same month last year. The decline was due to fewer owner’s and condo units despite gains in rental units. Seasonally adjusted annual starts were 1,259,000 units, the highest since January 2000. Wood-based units were 38,803, up 0.9% from January 2005.
Tokyo land prices show first recovery in 15 years
The price of land in Tokyo has risen for the first time in 15 years in another sign that the end of deflation is approaching. The prices of residential and commercial lands in Tokyo inched up by 0.8% and 2.9% respectively in 2005. Prices of commercial land also increased in Osaka (up 0.8%) and Nagoya (up 0.9%). However, prices
for residential and commercial land fell 2.7% nationally. The rate of decline was smaller than 5% in 2004 and 6.2% in 2003 as land prices show signs of bottoming out.
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Abbreviations
| LM
Loyale Merchant, a grade of log parcel |
Cu.m
Cubic Metre |
| QS
Qualite Superieure |
Koku
0.278 Cu.m or 120BF |
| CI
Choix Industriel
|
FFR
French Franc |
| CE
Choix Economique
|
SQ
Sawmill Quality |
| CS
Choix Supplimentaire |
SSQ
Select Sawmill Quality |
| FOB
Free-on-Board |
FAS
Sawnwood Grade First and |
| KD
Kiln Dry |
Second |
| AD
Air Dry
|
WBP
Water and Boil Proof |
| Boule
A Log Sawn Through and Through |
MR
Moisture Resistant |
|
the boards from one log are bundled |
pc
per piece |
|
together |
ea
each |
| BB/CC
Plywood grades. Letter(s) on the left indicate
face veneer(s), those on the right backing veneer(s). Veneer grade
decreases in order B, BB, C, CC, etc. |
MBF
1000 Board Feet
|
|
Plywood |
MDF
Medium Density Fibreboard |
| BF
Board Foot |
F.CFA CFA Franc
|
| Sq.Ft
Square Foot |
PHND
Pin hole no defect grade |
| Hoppus ton 1.8 cubic
metres |
 
Price has moved up or down |
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