US Dollar Exchange Rates of 25th May
2018
China Yuan 6.3919
Report from China
Rise in log imports in 2017
China’s log imports in 2017 totalled 55.43 million cubic
metres valued at US$9.927 billion, a year on year increase
of 14% in volume and 23% in value. The average price for
imported logs was US$179 per cubic metre, a year on year
increase of 8%.
Of total log imports, 2017 softwood log imports rose 13%
to 38.38 million cubic metres, accounting for 69% of the
national total, a 1% decline on 2016 levels. The average
price for imported softwood logs in 2017 was US$134 per
cubic metre, up 11% on levels in 2016.
 
New Zealand still the top source of logs
New Zealand was the main log supplier to China in 2017
accounting for 26% of total log imports. Imports from
New Zealand totalled 14.36 million cubic metres in 2017,
a year on year increase of 19%.
The second ranked supplier of logs was Russia at 11.27
million cubic metres, accounting for about 20% of the
national total. In 2017 a year on year increase of just 1%
was recorded for log imports from Russia.
Average prices for imported logs both from New Zealand
and Russia rose 12% and 9% respectively in 2017.
 
Hardwood log imports
Hardwood log imports grew 16% to 17.05 million cubic
metres (31% of the national total log imports). The
average price for imported hardwood logs in 2017 was
US$280 per cubic metre, up 11% on 2016.
Of total hardwood log imports, tropical log imports were
9.65 million cubic metres valued at US$2.846 billion, up
6% in volume and 10% in value from 2016, accounting for
17% of the national total import volume.
Imported hardwood log species
The main imported hardwood log species are birch (11%),
oak (7%), Chinese redwood (6%), okoume (6%), beech
(5%), eucalyptus (5%), North American hardwood (5%)
and poplar (3%).
The volume of North America hardwood log imports
surged over 100%, beech, oak, ash and Chinese redwood
hardwood log imports rose 52%, 42%, 27% and 24%
respectively. However, the volume of merbau log imports
fell 3%.
Tropical hardwood log imports
Tropical log imports in 2017 totalled 9.65 million cubic
metres up 6% year on year and accounted for 17% of the
national total, a year on year decline of 2 percentage
points. The value of tropical log imports in 2017 was
US$2.846 billion reflecting a 17% rise.
Before its log export ban, Myanmar was a major source of
tropical logs for China. However, China’s log imports
from Myanmar in 2017 fell to just 15,300 cubic metres
valued at US$12.76 million. The average price for
imported logs from Myanmar surged in 2017 to US$1,271
per cubic metre.
The average price for imported tropical logs in 2017 was
US$295 per cubic metre, a year on year rise of 10%.
China imported tropical logs mainly from Papua New
Guinea (30%), Solomon Islands (29%), Equatorial Guinea
(11%), Congo Brazzaville (8%), Cameroon (5%), and
Nigeria (5%). Just 10 countries supplied 92% of China’s
tropical log requirements in 2017.
Log imports from Equatorial Guinea and Nigeria surged
57% and 56% respectively in 2017. Countries from which
tropical log imports declined greatly included Laos (-37%)
and Liberia (-30%). In addition, tropical log imports from
Ghana and PNG fell 12% and 11% respectively.
The main port for tropical log imports in 2017 was
Nanjing Port which accounted for 86% of all tropical log
imports, a year on year decline of 1 percentage points.
 
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