January-May total domestic timber imports fell 1.2 per cent year-on-year
1、The timber import market shows adjustment trend
In the first five months of 2024, the total volume of domestic timber imports accumulated to 27.85 million cubic metres, compared with the same period in 2023, a decline of 1.2%. In terms of trade value, the cumulative total stood at US$5.77 billion, down 2.64 per cent year-on-year. This small decline indicates that the current timber market has not yet seen a full recovery.
Of particular concern is that in May, the total volume of timber imports and trade volume have seen a more significant decline, down 6.45% and 8.4% respectively. This change may indicate that the market is experiencing a more in-depth adjustment.
2, logs and sawn timber imports synchronised shrinkage
In-depth analysis of the data, it is not difficult to find that the reduction in imports of logs is the main reason for the overall decline. in May, domestic log arrivals fell by 4% compared with the same period last year, and the corresponding trade volume also decreased by 9.6%. This change may be related to the early port log inventory backlog, and market demand failed to keep up in time. At the same time, sawn timber imports also continued the downward trend in April, and the rate of decline has expanded, from 6.56% to 9.82% growth.
3, the Russian timber trade position is solid
Although the market as a whole showed a downward trend, but Russia as an important partner in China's timber trade, its position is still solid. 2024 January-May, China's imports from Russia's timber trade totalled as much as 1.22 billion U.S. dollars, topped the list. New Zealand, on the other hand, topped the list in terms of imports with 8.04 million cubic metres, and its trade value also increased by 10 per cent. EU timber exports to China, on the other hand, continued to decline, down 41 per cent year-on-year.
4, coniferous timber imports show a downward trend
In terms of timber species, the import volume of coniferous timber also showed a downward trend. 2024 January to May, China's imports of coniferous logs were 11.38 million square metres, and imports of coniferous sawn timber were 7.45 million square metres, compared with the same period last year, both decreased by 4%. Exports from New Zealand, Japan, and Canada increased, but exports from Europe and the U.S. declined. It is worth mentioning that the domestic demand for sapele sawn timber has picked up, with imports increasing by 152% in the first five months.
In summary, the current timber import market is undergoing deep adjustments and changes. From shrinking imports of logs and sawn timber, to fluctuating exports from different countries, to declining imports of coniferous timber, these changes reveal the dynamics and trends of the market. For enterprises in the timber industry, paying attention to market information and adjusting market strategies in a timely manner will be the key to coping with market changes.
