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Dollar Exchange Rates of 18th Feb. 2005
supply in 2004
total supply of plywood from domestic supply and imports in 2004 was
8,110,000 cubic metres, which was 6.7% higher than 2003 and this was the
first time in four years that the total supply exceeded eight million
cubic metres. Imports were 4,940,000 cubic metres, 8% more than 2003 while domestic production was also 4.9% up at 3,170,000 cubic
demand in 2004 was active due to higher housing starts at 1,189,000 units,
2.5% more than in 2003. The domestic supply of plywood increased as
manufacturers expanded production lines for structural panels and panels
made of domestic species. Manufacturers
of softwood panels also increased the production of thicker panels.
increased in 2004 as more overseas manufacturers became JAS certified,
also some domestic panel prices rose so that importers were more
optimistic in buying larger quantities of imports.
source, 2,,423,000 cubic metres of imports came from Indonesia, 8.1% up
from 2003, 1,995,000 cubic metres came from Malaysia, up 7.9% on 2003.
334,000 cubic metres was imported from China, 22.3% more than in 2003. The
total supply of domestic softwood plywood was 2,,000 cubic metres, 14.6%
more than in 2003, out of which panels thicker than 12 mm were 1,852,000
cubic metres, up 16%. The share of softwood panels in domestic production
increased 5.8% to almost 68%.
arrivals of concrete formboard panels for coating were only about half of
a normal months' arrivals so market availability is limited and prices are
firming to Yen 970-980 per sheet delivered Tokyo regional market
new orders are on hold because the mills, especially in Malaysia, are
closed as the country celebrates the Chinese New Year. On top of this
offers from Indonesian suppliers are firming in price. The Japan Lumber
report says many Indonesian suppliers are now offering US$370 per cubic
metre C&F for JAS concrete formboard 3x6 panel for Japan.
On the domestic Japanese market orders are reportedly slow and the plywood market is in a slump.
within the traditional distribution channels have slowed because direct
users such as major house
builders cut purchases in February. Plywood mills think that Japanese
house builders have completed purchases for end March delivery.
market for domestic made softwood structural panels of 12 mm F 4star
(category 1) is reported as particularly weak and the prices are
softening. Up until mid February, wholesalers were reducing sales prices
to move inventories but now even building materials trading companies are
offering lower prices.
the Tokyo regional market, prices of 12 mm softwood structural panel
F3star(category 1) are Yen 810-820 per sheet delivered, about 20 yen lower
than a month ago. In this adverse situation, Hayashi Veneer (Osaka) has
announced an increase by Yen 20-30 since February 20 then
increase of Yen 20-30 yen will come on stream March 1 to bring the sales
prices up to about Yen 900 per sheet.
trader have commented that price recovery is hard unless mills clear away
the through discount prices or mills stop production sharply because the
supply of softwood plywood is abundant.
market for softwood structural plywood peaked last July since when prices
have kept falling for six continuous months, now however, they seem to be
at the bottom of the range
lumber, Rumania advances rapidly
imports of European softwood lumber in 2004 (excluding Russian imports)
were 2,968,000 cubic metres, 9% up on 2003. Finland topped the list of
suppliers at 1,166,000 cubic metres, 13.4% more than 2003.
Sweden is second at 904,000 cubic metres, but 0.7% less thjan in
2003. Austria was the third
largest supplier at 480,000 cubic metres, 5.3% down on 2003. These three
countries took a 86% share of total import from Europe.
from a new supplier, Latvia, were ranked fourth at 105,000 cubic metres,
43% up while supplies from Rumania (5th ranked supplier) came in at just
79,000 cubic metres but an amazing plus 2000% jump.
both Estonia and Poland increased the panel exports to Japan. Rumanian
suppliers took advantage of preferential duties and the bulk of the supply
to Japan came from H. Schweighofer, which apparently intends to double the
volume of exports to Japan to 150,000 cubic metres in 2005.
imports of European lumber in 2004 were 9% more than the last peak year of
2003 but it was hard going for suppliers who had to struggle with the
steep appreciation of the Euro against the Yen.
pine log prices drop
pine log CIF prices have reportedly dropped below US$100 per cubic metre
as supplies have increased significantly as it is now the peak harvest
season in Siberia . CIF prices of other species are holding at about
US$100 (larch) and US$105 for whitewood. It is only the prices for red
pine that are weakening. Red pine prices softened to US$96-98 per cubic
metre since late January for standard
quality or lower logs with some contracts even at US$94-95. Fine grain
quality red pine CIF log prices are close to US$105 per cubic metre.
is becoming a buyers' market in Japan after major red pine suppliers
dropped prices. Loading ports are full with logs as suppliers are anxious
to ship logs out before March when the P.I. insurance is required for log
ships calling Japanese ports.
For more information on the
Japanese market please
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