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China Wood Products Prices

01-15th November 2010

US Dollar Exchange Rates of  15th Nov 2010
China Yuan 6.6438

Report from China 

  China’s log imports surged in first three quarters of 2010
Log imports totalled 25.7 million cu.m, valued at US$4,491 million from January to September 2010, up 23% in volume and 53% in value over the same period in 2009.

Of the total, softwood log imports were 18 million cu.m, valued at US$2,351 million, up 17% in volume and 42% in value. Hardwood log imports were 7.7 million cu.m, valued at US$ 2,141 million, up 38% in volume and 68% in value.

Of the total log imports, 24% were tropical logs totalling 6.2 million cu.m, a significant jump of 43% from the same period in 2009.

Big jump in sawnwood imports
Sawnwood imports totalled 10.4 million cu.m, valued at US$2,726 million in the first three quarters of 2010, up 48% in volume and 69% in value over the same period last year.

Of the total sawnwood imports, 62% were softwood and 38% hardwood, totalling 6.4 million cu.m and 4 million cu.m respectively.

Imports of wood-based panels rose significantly
From January to September 2010, imports of plywood amounted to 150,400 cu.m, worth US$81 million, an increase of 20% in volume and 28% in value compared to the same period in 2009.
Particleboard imports rose to 254,700 tons, valued at US$82.6 million, 12% higher in volume and 24% in value from the same period last year.

Fibreboard imports amounted to 210,000 tons, valued at US$95 million, down 8% in volume but up 3% in value from the same period last year.

China exports more furniture than it imports
China imported furniture worth US$261 million in the first three quarters of 2010, a significant jump of 19% in value compared to the same period last year. Even so, China exported much more furniture valued at US$11,615 million in the first three quarters of 2010, 41% higher than in the same period last year.

Gains in other wood product exports
In the first three quarters of 2010, exports of other wood products such as wooden doors, mouldings, wooden handicrafts and package materials etc. were worth US$3,830 million, up 25% from the same period last year.

Plywood: A total of 5.66 million cu.m of plywood were exported in the first three quarters of 2010, valued at US$2,540 million, up 39% in volume and 40% in value from the same period last year.

Fibreboard: Fibreboard exports totalled 1.48 million tons in the first three quarters of 2010, valued at US$850 million, 48% higher in volume and 42% in value from the same period last year.

Veneer: In the first three quarters of 2010, China exported some 83,000 metric tones of veneer, valued at US$156 million, up 32% in volume and 22% in value over the same period last year.

Solid wood flooring: In the first three quarters of 2010, China exported some 328,100 metric tones of solid wood flooring, valued at US$499 million, up 18% in volume and 15% in value over the same period in 2009.

Sawnwood: A total of 407,600 cu.m of sawnwood were exported in the first three quarters of 2010, valued at US$256 million, down 7% in volume and 5% in value from the same period last year.

US International Trade Commission to investigate wood flooring imports from China
The US International Trade Commission announced that it will start investigating the alleged dumping of multi-layer (engineered) wood flooring from China. The Coalition for American Hardwood Parity (CAHP), an association of US manufacturers of multi-layered wood flooring, asked the US government to impose antidumping duties, alleging that a variety of Chinese subsidies allows imports to be sold at unfairly low prices in the US market.

Allegations include the under valued RMB against the US dollar, preferential policies for foreign enterprises, value-added tax and tariff reductions on imported equipments, and preferential policies for electricity. According to the CAHP, the antidumping duty should be set as high as 242%.

The investigation will make a comparison with Indonesian products which are selling at higher prices in the US market. Indonesia was chosen based on the following arguments: (a) the development level of the economy is higher in China than in Indonesia, (b) there are many manufacturers producing similar products in both countries; (c) Indonesia exported significant amount of similar wood flooring to the US in 2009 and 2010.

Some European and American countries have undertaken several investigations on wood flooring and plywood from China in recent years, affecting China’s exports of wood flooring. The International Trade Commission has sent questionnaires to all interested parties on the most recent investigation and will be holding a hearing within a month.

For more information:
http://www.usitc.gov/trade_remedy/731_ad_701_cvd/investigations/2010/multilayered_wood_flooring/prelimphase.htm

• Wood Market Prices in China (16-31,Oct 2010)

• Wood Market Prices in China (01-15,Oct 2010)

• Wood Market Prices in China (16-30,Sep 2010)

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  Grade B faced and Grade C backed	MBF           1000 Board Feet
Plywood	MDF           Medium Density Fibreboard
BF         Board Foot	F.CFA         CFA Franc
Sq.Ft     Square Foot	Price has moved up or down