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With the reduced demand for logs by the lumber industry in China, log prices have fallen through most of 2012. According to the latest issue of the WRQ, average import softwood log values in the 3Q/12 were down 13 per..

15 Oct 2012

SEATTLE(Commodity Online): China log and lumber imports down 19% during first eight months of 2012, y-o-y due to reduction in construction activities in China which resulted in reduced demand for lumber. The biggest declines is seen of logs imported from Russia and the US, according to Wood Resource Quarterly report.

Total imports, by value, during the first eight months was 4.3 billion dollars, or 19% less than in 2011, with the biggest declines in logs imported from Russia and the US, and in lumber from North America. By volume, log imports were down 17 percent and lumber imports down five percent.

The importation of softwood lumber in August was down for the third consecutive quarter to 1.1 million m3, which was a decline of 21 percent from May and 23 percent lower than in August 2011.

Canada and Russia are the two dominant suppliers of softwood lumber to China, together accounting for 84 percent of the total imports, with the US, Chile and New Zealand making up most of the remaining import volume.

In August, the average import value for all softwood lumber imported to China was down nine dollars to $203/m3 from a year ago, according to Customs data. Chinese softwood log imports have fallen dramatically this year. From January through August, imports from Russia were down 21 percent, and from the US, 31 percent as compared to the same period in 2011.

With the reduced demand for logs by the lumber industry in China, log prices have fallen through most of 2012. According to the latest issue of the WRQ, average import softwood log values in the 3Q/12 were down 13 percent from a year ago, and domestic Chinese-fir log prices have fallen about six percent in 12 months.


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