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Rubber and Wood April 05, 2019 03:00:54 AM

WRQ Report Recognizes Downward Trend in Chinese Lumber Imports

Paul Ploumis
ScrapMonster Author
China’s log imports totaled 59.75 million cubic metres in 2018, higher by 8% from 2017.

WRQ Report Recognizes Downward Trend in Chinese Lumber Imports

SEATTLE (Scrap Monster):  The latest edition of Wood Resource Quarterly (WRQ) reported marginal drop in lumber imports by China during 2018. Meantime, log imports by the country surged during the year.

The lumber demand witnessed considerable slowdown in the country towards the end of 2018. The imports dropped to 5.9 million cubic metres in Q4 last year. The yearly imports dropped marginally by 2.3% from 2017. The ongoing uncertainty with regards to Chinese economy, declining GDP growth and drop in investments in housing and construction sector are cited as the major reasons for the decelerated lumber demand.

The Russian share of total lumber imports by China was 63% in Q4 ’18, significantly higher when matched with 55% in the same quarter a year before. The imports from Finland and Sweden nosedived over 46% from 624,000 cubic metres in Q4 ’17 to as low as 335,000 cubic metres in fourth quarter of 2018. Also, this is the lowest import volume from these countries in three years.

Meantime, the import volumes recorded notable surge in January 2019, up by almost 20% over the previous year. However, it is too early to confirm that import trade has started to reverse, says WRQ.

China’s log imports totaled 59.75 million cubic metres in 2018, higher by 8% from 2017. Out of this, softwood log imports totaled 41.61 million cubic metres. The value of imports too was up by 11% to total $10.984 billion. The log import prices averaged at $184 per cubic metre.

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