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Arbor Resources Blog Updates

​Chinese imports of softwood and hardwood wood products will be
significantly altered in 2022 if Russia’s log export ban is implemented
China is the world’s largest importer of softwood and hardwood logs, and for many decades,
Russia has been a significant log supplier for them. This relationship may change in 2022
if Russia implements their proposed ban on exports of softwood logs and valuable
hardwood logs, while also introducing export taxes on green lumber. All these policy
changes are designed to encourage increased domestic production of higher-valued forest
products.
The Russian parliament has not yet announced the final legislative proclamation, so it is
not clear if there will be a complete or phased-in ban, a significant export tax, or even the
possibility of a state-owned export monopoly. However, a signal has been sent to the
marketplace that Russia will no longer be a major supplier of softwood and hardwood logs.
One consequence of this decision is that Chinese wood manufacturers will need to explore
new long-term log supply regions.
In 2020, China imported almost 6.5 million m3 of logs from Russia, predominantly
softwood species. The trade was substantially less than in any year during the past two
decades. Nevertheless, Russia was still the largest supplier of hardwood logs to China in
2020 (more prominent than any other source of temperate or tropical logs) and the thirdlargest
supplier of softwood logs.
It is crucial to keep in mind that China has shifted from sourcing logs from Russia to
European suppliers the past few years as insect-infested timber in Central Europe has been
in temporary abundance. From 2018 to 2020, softwood log imports from Europe increased
from 1.3 million m3 to 12.3 million m3, while Russian-supplied logs fell from 7.8 million
m3 to 4.2 million m3. However, shipments from Europe are not sustainable long-term.
According to the just-released study by the consulting firms Wood Resources International
and O’Kelly Acumen (Russian Log Export Ban in 2022 - Implications for the Global
Forest Industry), China is expected to source more sawlogs from Oceania, Europe, and the
US short-term. Longer-term, the study anticipates that China is likely to shift further from
WRI Market Insights 2021
- a subscription service from Wood Resources International
Global Sawlog Markets
Wood Resources
International
importing logs to lumber, thus creating opportunities for lumber manufacturers, mainly in
Europe and Russia, to increase shipments to this growing market.
The excerpt above is from the just-released Focus Report “Russia Log Export Ban in 2022 –
Implications to the Global Forest Industry”, published by Wood Resources International LLC
and O’Kelly Acumen. For more information about the study or to inquire about purchasing the
60-page report in easy-to-read slide format, please contact either Hakan Ekstrom
(hakan@woodprices.com) or Glen O’Kelly (glen.okelly@okelly.se). A Table of Contents of the
report is available on our website. Click here!
Contact Information
Wood Resources International LLC
Hakan Ekstrom, Seattle, USA
info@WoodPrices.com

Advice from our forester - impact of Coronavirus

11/2/2020

0 Comments

 
​Early last week we were advised that the flow of our logs into China is facing significant global disruption caused by Coronavirus. China is our main buyer of logs and is the market that sets the price for all other end users – including the New Zealand domestic market.
 
Last week, after discussions with the exporters and a number of forestry companies we made the decision to stand down the harvest crews. Other forest management companies have made similar decisions. For most of the crews their last day of work was Tuesday last week – with a plan to review operations today.
 
Over the past week we have been closely monitoring the Coronavirus situation. Businesses, ports and government departments in China remain operating on very restricted capacity. The Chinese workforce is still under movement control and in many cases cannot get to work, or back home. The government extended Chinese New Year, which is normally celebrated around this time of the year, this means log inventories on ports have continued to build. And with no one returning to work, transporting from the ports and processing hasn’t begun.
 
Because of the build up of logs on the wharves, price indications for February have reduced significantly with indications of A grade logs dropping from around $125 to $90 per JAS. Coupled with this is an increased supply of beetle affected spruce logs being railed from Europe to China and competing with our Radiata.
 
The situation remains very dynamic. Today we are continuing discussions with the exporters around log movements off the ports. All parties are unsure how long this disruption will last.
 
The underlying demand from China for logs remains positive – it’s a matter of working through the short term Coronavirus repercussions and the current build-up of inventories on the port.
 
We will send you more information as the situation develops.
  
Kind regards
 
Will Dickie & Roger Dickie
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    Author
    ​FRANK T DAVIS 

    A SURLY AND CYNICAL OLD CURMUDGEON WITH A JAUNDICED VIEW OF THE POLITICAL ELITE .

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