FEA Update: China softwood log inventories

Friday 15 Nov 2024

China’s Softwood Log Inventories at Ocean Ports – FEA industry sources in China, report that softwood log inventories at the country’s main ocean ports totalled 2.72 million m³ on 2 November 2024, a decline of 4% (-112,000 m³) from late September. Key details:
  • Radiata pine log volumes from New Zealand and South America amounted to 1.94 million m³, a rapid decline of nearly 11% from the month before and comprising nearly 71% of overall log inventories (versus 77% in late September).
  • North American Douglas-fir and hemlock log volumes totalled 480,000 m³, up dramatically by 37.5% from the month before and comprising 18% of overall log inventories (versus 12% in late September).
  • European spruce log volumes, at 140,000 m³, up 8% from a month earlier and made up 5% of overall log inventories.
  • Softwood log inventories from other countries (Japanese sugi, European red pine, etc.) totalled 160,000 m³ (-7.5%).
China: Softwood log inventory at main ocean ports

In October, wholesale market prices in Taicang and Lanshan showed an upward trend during the first half of the month, followed by a decline in the second half. Overall, wholesale market prices decreased, with hemlock and European spruce logs down RMB 0–20/m3 from late September; radiata pine log prices were down RMB 20/m³.

Additionally, the price of logs suitable for finger-jointed/edge-glued panel production adjusted downward, with a cumulative decline of RMB 40-50/m3 during the month; this contributed to price reductions on other grades of logs. Moreover, end-users remain highly sensitive to price changes. In addition, the dispersion of stocks, along with the destocking by some inventory holders, have acted to hinder a steady rise in prices.

In terms of overall sales, the average daily sales volume decreased from 75,000 in the first week to just 63,000 in the fourth week, resulting in an average of 70,900 m³ for the month. This compared to 63,125 m³ in October 2023 and 66,000 m³ in October 2022.

China: Softwood log average daily sales at Ocean Ports

For more information on FEA’s China Bulletin where this data is reported monthly, please visit https://getfea.com/publication/china-bulletin, or contact Matt Robertson at mrobertson@getfea.com.

Source & charts: Forest Economic Advisors (FEA)


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