FEA update: China softwood log inventories
Friday 18 Nov 2022China’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 3.72 million m3 on October 29th, 2022, a slight decline of 2% (-70,000 m3) from late September, as follows:
• Radiata pine log inventory volumes from New Zealand and South America amounted to 2.82 million m3, a decline of 2% from a month earlier and comprising nearly 76% of overall log inventories.
• North American Douglas-fir and hemlock log volumes totalled 400,000 m3, remaining unchanged from the previous month and accounting for 11% of overall log inventories.
• European spruce logs totalled 254,000 m3, a growth of 27% from a month earlier and comprising 7% of log inventories (versus 5% in late September).
• Softwood log inventories from other countries (including Japanese Sugi, European red pine logs, etc) amounted to 247,000 m3 (-19%).
In October, inventory levels continued the downward trend with a slight decline of radiata pine logs while notable growth of European logs. The average daily sales at ocean ports were estimated at 66,000 m3 in October, compared with 86,833 m3 in October 2021.
Moreover, the log wholesale market prices showed a downward trend in October, reflecting a decline of RMB 20-40/m3 in Taicang and RMB 30-60/m3 in Lanshan (given the COVID outbreaks in the Shandong region). Those companies who hold big stocks were not optimistic about the market demands in the coming months, therefore, they offered lower prices for their old stocks, resulting in an overall price reduction in the wholesale market.
For more information on FEA’s China Bulletin where this data is reported monthly, please click here or contact Dave Battaglia at email@example.com
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