US Dollar Exchange Rates of 10th November 2017
China Yuan 6.6415
Report from China
First hint of slowing consumption
The economy in China is on track to meet targets set by
government but many analysts have expressed concern
over rising debt levels. Domestic consumption is strong
but China¡¯s official manufacturing Purchasing Managers'
Index (PMI) for October was lower than expected.
The October PMI for large-sized enterprises was 53.1
(down 0.7 points) but still in an expansionary mode. The
PMI for medium-sized and small-sized enterprises came in
at 49.8 and 49.0 points signaling decline.
Among the five sub-indices composing PMI the raw
materials inventory index, employed person index and
supplier delivery time index were lower than the positive
The official data suggest that both production and demand
fell in October, a decline put down to reduced output as
companies, especially those in the NE of the country,
complied with environmental regulations and the long
holiday in October.
For the year to October the manufacturing sector has
achieved solid growth on the back of consumer spending
and expenditure on infrastructure developments.
For more see:
First half 2017 softwood log imports
In the first half of 2017 China¡¯s softwood log imports
were 17.51 million cubic metres. The main imported
softwood log species in the first half of 2017 were radiata
pine (7.56 million cu.m, 43%), spruce and fir (2.51 million
cu.m, 14%), Korean and Scots pine (2.04 million cu.m,
12%), larch (1.20 million cu.m, 7%) and douglas fir (0.88
million cu.m, 5%).
The volume of radiata pine and douglas fir imports rose
14% and 6%, but Korean pine and scots pine, spruce, fir
and larch imports fell 18%, 5% and 2% respectively.
These species accounted for 81% of total softwood log
China¡¯s radiata pine log imports were from New Zealand
(78%) and Australia (21%). Minor amounts were from
South Africa and Chile. Over 90% of spruce and fir logs
were imported from Russia (61%), Canada (16%) and the
USA (15%) while pine logs (Korean and scots pine) were
imported from Russia (86%) and Ukraine (6%).
China¡¯s larch log imports were from Russia and New
Zealand while douglas fir logs were imported from the
USA (55%), Canada (28%) and New Zealand (17%).
Small amounts were from France, Australia, Denmark and
First half hardwood log imports
In the first half of 2017 China¡¯s hardwood log imports
totalled 8.38 million cubic metres. The main imported
hardwood log species were birch (1,041,100 cu.m, 12.4%),
beech (676,000 cu.m, 8.1%), oak (554,800 cu.m, 6.6%),
okoume (512,500 cu.m, 6.1%), North America hardwood
(434,800 cu.m, 5.2%), redwood (419,800 cu.m, 5.0%),
poplar (315,200 cu.m, 3.8%), eucalyptus (284,000 cu.m,
3.49%) and merbau (112,900 cu.m, 0.3%).
While the volumes of US hardwoods, okoume and
redwood rose, imports of merbau fell.
Recent additions to the Customs code include birch
(4403.9500 sectional dimension equal to or more than
15cm and 4403.9600 sectional dimension less than 15cm),
poplar (4403.9700) and eucalyptus (4403.9800) which will
make analysis more accuate.
Sawn softwood species imports
In the first half of 2017 China¡¯s sawn softwood imports
were 12.41 million cubic metres. The main imported sawn
softwood species in the first half of 2017 were spruce and
fir (4.78 million cu.m, 39%), Korean and scots pine (1.33
million cu.m, 11%), other pines (1.20 million cu.m, 7%),
radiata pine (0.59 million cu.m, 5%) and douglas fir (0.14
million cu.m, 1%).
The volume of douglas fir, spruce and fir, Korean, scots
pine and radiata pine imports rose 26%, 15%, 13% and 8%
respectively. These species accounted for 83% of total
sawn softwood imports.
Most of China¡¯s Korean and scots pine sawnwood were
imported from Russia., Other sources of sawn softwood
included Finland (3.3%), Sweden (1.3%) and Germany
Imports of radiata pine sawnwood were from Chile (59%)
and New Zealand (32%). Imports of spruce and fir
sawnwood were from Russia (38%), Canada (35%),
Finland (14%) and Sweden (8%).
Sawn hardwood species imports
In the first half of 2017 China¡¯s sawn hardwood imports
were 5.71 million cubic metres. The main sawn hardwood
species imported were oak (740,900 cu.m, 13%), beech
(312 500 cu.m, 5.5%), birch (285 200 cu.m, 5.0%), North
America hardwoods (280,300 cu.m, 4.9%), white ash
(251,000 cu.m, 4.4%).
The volumes of beech, North America hardwoods, oak
and white ash rose 34%, 25%, 18% and 4% respectively.
The Customs code for tropical redwood (4407.2940), birch
(4407.9600) and poplar (4407.9700) sawnwood are newly
added from 2017 so there are no comparative data.
Production of plywood in 2016
In 2016 plywood production rose 7% to 177.56 million
cubic metres accounting for nearly 60% of total
woodbased panel output and was valued at RMB367.5
billion. Of the total, 163.82 million cubic metres were
plain plywood, 7.34 million cubic metres were laminated
or wood/bamboo composite plywood and 6.4 million
cubic metres were bamboo.
The output from mills in Shandong province was the
largest and rose 6% to 51.57 million cubic metres in 2016.
The output in almost all provinces increased in 2016. The
output of Hebei, Fujian, Jiangsu and Hu¡¯nan provinces
grew dramatically by 38%, 35%, 23% and 16%
respectively. However, the output of Guangdong Province
alone fell 4% in 2016.