US Dollar Exchange Rates of
10th
Feb
2025
China Yuan 7.31
Report from China
Decline in log imports in 2024
According to China Customs, log imports in 2024 totalled
36.1 million cubic metres valued at US$6.159 billion, a
decline of 5% in volume and 4% in value year on year.
The average price for imported logs was US$171 (CIF)
per cubic metre, up 2% on 2023 levels.
Of total 2024 log imports, softwood log imports fell 7% to
26.12 million cubic metres and accounted for 72% of the
national total, down 2% percentage points from the 2023
level. The average price for imported softwood logs was
US$130 (CIF) per cubic metre, down 3% on 2023 levels.
Hardwood log imports in 2024 rose 1% to 9.98 million
cubic metres (28% of the national total log imports). The
average price for imported hardwood logs in 2024 was
US$277 (CIF) per cubic metre, up 5% on 2023 levels.
Of total hardwood log imports, tropical log imports were
5.52 million cubic metres valued at US$1.408 billion,
down 3% in volume and down 7% in value from 2023 and
accounted for 15% of the national total import volume in
2024. The average price for tropical logs imports in 2024
was US$255 (CIF) per cubic metre, down 4% on 2023.
In 2024 over 60% of China’s imported logs are Radiata
Pine, Spruce and Fir, Douglas fir and Birch. The volume
of Radiata pine and Douglas Fir rose 0.4% and 11% to
17.11 million cubic metres and 1.37 million cubic meres
respectively year on year in 2024. The volume of
Spruce/Fir and Birch fell 46% and 8% to 3.17 million
cubic metres and 1.17 million cubic metres respectively
year on year in 2024.
Log imports from New Zealand
According to China Customs, New Zealand still was the
largest supplier of log imports and 50% of China’s log
were imported from New Zealand in 2024. Log imports
from New Zealand totalled 17.9 million cubic metres in
2024, down 1% over the same period of 2023. Log
imports from New Zealand were Radiata Pine, Spruce/Fir
and Douglas Fir.
In addition, China’s log imports from USA, Japan,
Solomon Islands and Canada rose 10%, 17%, 7% and 22%
respectively in 2024.
In contrast, China’s log imports from Germany fell 61% to
1.4 million cubic metres in 2024. Imports from PNG and
Russia fell 9% and 11% respectively over 2023 levels.
Surge in softwood log imports from Australia
Around 90% of China’s log imports from Australia were
softwood logs in 2024 and softwood log imports from
Australia surged to 543,000 cubic metres in 2023. 76% of
China’s softwood log imports from Australia were Radiata
Pine in 2024 (459,500 cu.m).
Japan became the second largest supplier of softwood log
imports in 2024 exceeding that of USA. In 2024 China’s
softwood log imports from Japan rose 17% year on year.
In addition, China’s softwood log imports from Canada,
South Africa and Latvia grew 24%, 75% and 41%
respectively in 2024.
In contrast, softwood log imports from Germany fell 69%
and from Poland and France imports dropped 14% and
13% respectively year on year in 2024.
Rise in hardwood log imports from USA and Germany
According to China Customs hardwood log imports from
USA and Germany rose 24% and 31% respectively year
on year in 2024. In July and August 2024, China’s
Douglas Fir log imports from USA surged. In January
2024, China’s oak log imports from Germany surged and
rose over 100% year on year in February, April, July,
September and December 2024.
At present, there is a trend that Chinese consumers
increasingly prefer furniture made of Douglas fir from the
United States and Oak from Germany.
Decline in tropical log imports
China Custom data for 2024 shows tropical log imports
totalled 5.521 million cubic metres in 2024, down 3% over
2023. PNG was the largest supplier of tropical log imports
in 2024 but China’s tropical log imports from PNG fell
9% to 2.068 million cubic metres on 2023. This is the
main reason for the decrease in the total tropical log
imports in 2024.
The Solomon Islands was the second largest supplier of
tropical log imports in 2024 and imports from Solomon
Islands rose 7% to 1.582 million cubic metres year on
year.
In 2024 China’s tropical log imports from Suriname,
DRC, Equatorial Guinea and Mozambique rose 7%, 3%,
13% and 12% respectively year on year.
Decline in CIF prices for tropical log imports from
most
of top suppliers
The average CIF price of China’s tropical log imports fell
4% to US$255 per cubic metre in 2024. The CIF price for
log imports from PNG and Suriname rose 4% and 2% to
US$221 and US$292 per cubic metre respectively in 2024.
In contrast, the CIF price for China’s tropical log imports
from most of top suppliers declined but at different rates.
The CIF prices for tropical log imports from the Republic
of Congo and DRC fell 6% and 8%.
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