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China's log inventories continue to decline, and domestic timber prices show an upward trend

[Sep 26, 2022]

As of the end of August, the log inventory was 4.57 million m3, the radiata pine inventory was 3.46 million m3, the North American timber inventory was 430,000 m3, and the European spruce inventory was 300,000 m3. Shipments: 66,000/day.

The domestic inventory continued to decline in this period, mainly due to the decrease in arrivals. Due to the upcoming peak demand season in the domestic market, the demand has improved, and the domestic price has shown an upward trend, but the current price is still upside down. The market is still upside down seriously.

In terms of radiata pine, the mainstream quotations of external disks remained at 147-150, and the customers' willingness to trade was not strong.

In terms of spruce, the price of external listings ranges from 168 to 175. Due to the decreasing number of offers, it is expected that further price increases will follow. The price difference between spruce and radiata pine will widen, returning to the original situation when spruce had no pest problems.

The total inventory in Shandong province is about 2.4 million cubic meters, an increase of 12.3% compared with the first ten days of August. Lanshan Port’s log inventory: Radiata pine, North American and South American materials, and Russian materials totaling 1.77 million square meters; spruce totaling 60,000 square meters; daily shipments are 36,000 square meters. Qingdao spruce log inventory is 100,000 square meters + 100,000 other wood.
The total inventory of Taicang, Jiangsu is 695,800 square meters. It is down 5% from the first half of August. The average daily shipment is about 9700 square meters.