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Follow on Google News | China imported 15% less logs in the first half of 2012 than in 1H/11; prices lower than last yearThe slowing economy in China has reduced the importation of logs from New Zealand, Russia and the US by 15% during 1H/12. Prices for imported and domestic softwood logs in China have fallen this year by 14% and 10%, respectively as reported by WRQ.
Softwood log imports to China in the first and second quarter this year were 6.2 million m3 and 6.6 million m3, respectively, down from all-time high of 8.6 million m3 seen in the 3Q/11, reports the Wood Resource Quarterly (www.woodprices.com) The reduced demand for logs in China has not only impacted import volumes, but also prices for domestic and imported logs. The average price for imported softwood logs was down 14 percent from 2Q/11 to 2Q/12. Prices for New Zealand radiata pine logs dropped the most, while red pine logs from Russia showed the smallest price drops as compared to other species of imported softwood logs. Domestic log prices in China have also fallen over the past year, with Chinese-fir prices being down six percent year-over-year in the 2Q/12, according to the WRQ. Mongolian pine and larch prices were also lower by 8 and 16 percent, respectively. Contrary to the recent downward price trend for softwood log, prices for domestic hardwood logs, including Eucalyptus, birch and poplar, have gone up this year and were close to, or at record-high levels in the 2Q/12. Much uncertainty surrounds investment activities in the Chinese construction sector, private consumption in the country, and the demand for Chinese forest products in North America and Europe. If the assumption that the Chinese domestic consumption and private investments will improve somewhat in the 2H/12, as IMF forecasts, both softwood and hardwood log prices are likely to stop falling and instead increase slightly in the second half of 2012. Global pulpwood and timber market reporting is included in the 52-page quarterly publication Wood Resource Quarterly (WRQ). The report, established in 1988 and with subscribers in over 25 countries, tracks sawlog, pulpwood, lumber and pellet prices and market developments in most key regions around the world. To subscribe to the WRQ, please go to www.woodprices.com End
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