US Dollar Exchange Rates of 10th September 2017
China Yuan 6.52912
Report from China
Log imports up 8% in the first half of year
China¡¯s log imports in the first half of 2017 totalled 25.89
million cubic metres valued at US$4.535 billion, a year on
year increase of 8.3% in volume and 14% in value. The
average price for imported logs was US$175 per cubic
metre, a year on year increase of 6%.
Of total log imports, softwood log imports rose 8.6% to
17.51 million cubic metres, accounting for 68% of the
national total. The average price for imported softwood
logs was US$130 per cubic metre, up 9% on the same
period of 2016.
Hardwood log imports grew 7.6% to 8.38 million cubic
metres (32% of the national total log imports). The
average price for imported hardwood logs in the first half
of 2017 was US$269 per cubic metre, up 3% on the same
period of 2016.
Of total hardwood log imports, tropical log imports were
4.43 million cubic metres valued at US$1.278 billion, up
7% in volume but down 2% in value on the same period of
2016.
New Zealand and Russia main sources of logs
New Zealand was the main log supplier to China in the
first half of 2017 accounting for 24% of total log imports.
Imports from New Zealand totalled 6.2 million cubic
metres in the first half of 2017, a year on year increase of
10%.
The second ranked supplier of logs was Russia at 5.87
million cubic metres, accounting for about 23% of the
national total. In the first half of 2017 a year on year
decrease of 1% was recorded for log imports from Russia.
Average prices for imported logs from New Zealand rose
10%, average prices for imported logs from Russia grew
7% in the first half of 2017.
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Drop in tropical hardwood log imports
Tropical log imports in the first half of 2017 totalled 4.43
million cubic metres, down 7% year on year and
accounted for 17% of the national total. The value of
tropical log imports in the first half of 2017 was US$1.278
billion reflecting a 2.3% decline.
Before its log export ban Myanmar was a major source of
tropical logs for China. However, China¡¯s log imports
from Myanmar in the first half of 2017 fell 14% to just 8
600 cubic metres valued at US$11.36 million, down 19%
in value.
The average price for imported logs from Myanmar fell
6% in the first half of 2017 to US$1,326 per cubic metre.
However, the average price for imported tropical logs in
the first half of 2017 was US$288 per cubic metre, a year
on year increase of 5%.
China imported tropical logs mainly from Papua New
Guinea (31%), Solomon Islands (28%), Equatorial Guinea
(10%), Congo Brazzaville (9.6%), Cameroon (5.1%) and
Nigeria (4.9%). Just 10 countries supplied 94% of China¡¯s
tropical log requirements in the first half of 2017.
Log imports from Zambia and Congo Brazzaville surged
247% and 68% in the first half of 2017 respectively.
Countries from which tropical log imports declined greatly
included Laos (-59%) ,Ghana (-36%) and PNG (-23%).
The main port for tropical log imports in the first half of
2017 was Nanjing Port which accounted for 87% of all
tropical log imports.
 
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