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April 17, 2020

China wood processing industry in panic due to shortage of imported timber

China wood processing industry in panic due to shortage of imported timber

The demand for imported wood in China's wood products industry has gradually recovered. However, on the one hand, overseas coronavirus crisis which occurred in many countries and spread rapidly determined the  governments of various countries to adopt anti-epidemic measures such as home working and border closure, which affected timber harvesting and transportation.

On the other hand, Chinese domestic timber processing factories are currently in panic due the shortage of imported timber caused by the pandemic. When the price of imported timber bottomed out in 2019, the factory actively stocked, causing prices to rise, ranging from 100-200 yuan per cubic meter (14-28 US$/per cubic meter). This article will discuss the following points regarding the sufficient supply of imported timber:

Imported timber inventory can support at least two months of consumption

According to industry insiders, from the second half of 2019 to the end of the year, stocks of imported timber in China remained high and prices had bottomed. The imported timber from January to February this year has still arrived normally. In early March, most ports have reached full warehouse capacity. Even after a month of consumption, as far as the softwood materials are concerned, the inventory of Taicang still has more than 3.6 million cubic meters as of the time of publication, Guangdong 300-400,000 and an additional 1.23 million cubic meters at other timber markets. These inventories can support normal consumption for more than 2 months.

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