In May 2022, the import volume of
logs and sawn timber in China was 6.491 million cubic meters, a
year-on-year decrease of 0.2%; from January to May, the cumulative
import volume of logs and sawn timber in my country was 67.689
million cubic meters, a year-on-year decrease of 22.6%.
In terms of value, China's imports of logs and sawn timber in May 2022 amounted to US$1,560.1 million, a year-on-year increase of 0.0%; from January to May, the cumulative import value of logs and sawn timber in my country was US$1,560.1 million, a year-on-year decrease of 3.9%.
In May 2022, Russia's timber exports to China were 1.076 million cubic meters, a year-on-year decrease of 18.7%. The value of exports contracted 5.4 percent to $261 million. The average price of lumber rose 16.4% to $242.5 per cubic meter.
China is the world's second largest timber consumer and the largest timber importer. Potential demand for New Zealand logs remains relatively stable for now, as supplies from Europe, the Pacific Northwest and Russia dry up. On top of that, with many forests either closed or yields significantly reduced, New Zealand's supply is expected to drop by about 40% in the coming months, and it usually takes 6 weeks to feel this drop.
From the current point of view, this rebound will be very sharp, and it is expected that China's log imports will start to pick up in August.