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US Dollar Exchange Rates of 19th August 2005 Japan Yen 110.40
Projection of Japanese housing starts The
Research Institute of Construction and Economy (RICE) disclosed its
projection of new housing starts (see table). RICE forecast that the
declining trend in housing starts, observed since the 1990s, will continue
throughout 2020. The number of vacant units will surge as a result of this
trend. House vacancies are forecast to be about 6.8m units in 2010 and to
exceed 7.2m units in 2020. Housing starts and projections
*Projection Plywood manufacturers
resist higher log prices Price negotiations between
log importers and plywood manufacturers initially
reached a deadlock. The cost of logs in Japan has been up as a result of
higher FOB prices, firm ocean freight rates and unstable exchange rate
which forced importers to raise prices. The cost of July arrivals was
about 6,800-7,000 yen per koku CIF (koku=0.278 m3) on meranti
regular (around 24,000-25,000 yen per m3) but plywood
manufacturers resisted those prices. Plywood manufacturers argued that
depressed plywood prices prohibit them paying higher log prices. After
tough negotiations, prices were settled at about 6,400‑6,500 yen per
m3. Small meranti prices were, in turn, at about
5,700‑5,900 yen per m3. Log production in Sarawak and
PNG is slow due to foul weather. Log suppliers are bullish but even
Chinese buyers are beginning to ask for price reductions. Current FOB
prices for Sarawak meranti regular are firm at US$171‑173 per m3
while small meranti was trading at US$139‑141 per m3.
Prices for Kapur floater and keruing were US$191-195 and US$220 per m3,
respectively. Sabah seraya’s quality large‑logs were priced at
US$155‑160 per m3. PNG’s mersawa logs were traded at
about US$163‑165 per m3, down from the importers’
proposal of US$170 per m3. Prices for taun logs were down by
US$10 and were being traded at US$140 per m3. Prices for 2x6’ panels
remain very active The prices for 3x6’ size
are not as active as those of 2x6’ but are firming at about 980 yen. In
contrast, prices for 3x6’ concrete forming panel are softening at about
820 yen per sheet because of decreasing demand for construction and
engineering works while orders from DIY stores are dropping as they reduce
inventories before closing their books for mid‑term settlement. July and August Wholesale Prices
Koku=0.278 m3
Koku=0.278 m3 More information on the Japanese market please see www.n-mokuzai.com | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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