US Dollar Exchange Rates of 25th May
2018
China Yuan 6.3919
Report from China
Rise in log imports in 2017
China¡¯s log imports in 2017 totalled 55.43 million cubic
metres valued at US$9.927 billion, a year on year increase
of 14% in volume and 23% in value. The average price for
imported logs was US$179 per cubic metre, a year on year
increase of 8%.
Of total log imports, 2017 softwood log imports rose 13%
to 38.38 million cubic metres, accounting for 69% of the
national total, a 1% decline on 2016 levels. The average
price for imported softwood logs in 2017 was US$134 per
cubic metre, up 11% on levels in 2016.
 
New Zealand still the top source of logs
New Zealand was the main log supplier to China in 2017
accounting for 26% of total log imports. Imports from
New Zealand totalled 14.36 million cubic metres in 2017,
a year on year increase of 19%.
The second ranked supplier of logs was Russia at 11.27
million cubic metres, accounting for about 20% of the
national total. In 2017 a year on year increase of just 1%
was recorded for log imports from Russia.
Average prices for imported logs both from New Zealand
and Russia rose 12% and 9% respectively in 2017.
 
Hardwood log imports
Hardwood log imports grew 16% to 17.05 million cubic
metres (31% of the national total log imports). The
average price for imported hardwood logs in 2017 was
US$280 per cubic metre, up 11% on 2016.
Of total hardwood log imports, tropical log imports were
9.65 million cubic metres valued at US$2.846 billion, up
6% in volume and 10% in value from 2016, accounting for
17% of the national total import volume.
Imported hardwood log species
The main imported hardwood log species are birch (11%),
oak (7%), Chinese redwood (6%), okoume (6%), beech
(5%), eucalyptus (5%), North American hardwood (5%)
and poplar (3%).
The volume of North America hardwood log imports
surged over 100%, beech, oak, ash and Chinese redwood
hardwood log imports rose 52%, 42%, 27% and 24%
respectively. However, the volume of merbau log imports
fell 3%.
Tropical hardwood log imports
Tropical log imports in 2017 totalled 9.65 million cubic
metres up 6% year on year and accounted for 17% of the
national total, a year on year decline of 2 percentage
points. The value of tropical log imports in 2017 was
US$2.846 billion reflecting a 17% rise.
Before its log export ban, Myanmar was a major source of
tropical logs for China. However, China¡¯s log imports
from Myanmar in 2017 fell to just 15,300 cubic metres
valued at US$12.76 million. The average price for
imported logs from Myanmar surged in 2017 to US$1,271
per cubic metre.
The average price for imported tropical logs in 2017 was
US$295 per cubic metre, a year on year rise of 10%.
China imported tropical logs mainly from Papua New
Guinea (30%), Solomon Islands (29%), Equatorial Guinea
(11%), Congo Brazzaville (8%), Cameroon (5%), and
Nigeria (5%). Just 10 countries supplied 92% of China¡¯s
tropical log requirements in 2017.
Log imports from Equatorial Guinea and Nigeria surged
57% and 56% respectively in 2017. Countries from which
tropical log imports declined greatly included Laos (-37%)
and Liberia (-30%). In addition, tropical log imports from
Ghana and PNG fell 12% and 11% respectively.
The main port for tropical log imports in 2017 was
Nanjing Port which accounted for 86% of all tropical log
imports, a year on year decline of 1 percentage points.
 
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