China: Sharp decline in log imports from Germany

May 20, 2024
Джерело:
ITTO/Fordaq
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China’s log imports from Germany dropped 65% to 413,000 cubic metres valued at US$62 million, both declining by 68% in the first quarter of 2024. The average CIF price for China’s log imports from Germany fell 10% to US$150 per cubic metre.

The dramatic decline in China’s log imports from Germany was because the Russia-Ukraine conflict has led to a general rise in energy prices in Europe and the costs of major manufacturing and industrial production in Germany have increased significantly.

Germany has lost its position as the second largest supplier of log to China, ranking just sixth in the first quarter of 2024.

New Zealand still was the largest supplier of logs to China in the first quarter of 2024. China’s log imports from New Zealand rose 13% to 4.29 million cubic metres valued at US$552 million, both up 12% over the same period of 2023. The average CIF price for log imports from New Zealand fell 2% to US$129 per cubic metre.

The proportion of China’s log imports from New Zealand accounted for 48% of the total log imports volume.