CIBC: China's April lumber imports up 2% year-over-year to 2.08 million m3 at average cost of US$326/m3, log imports up 25% to 5.13 million m3 at average price of US$241/m3; year-to-date lumber and log imports up 13% and 30%, respectively
July 7, 2014
(CIBC World Markets Inc.)
– Paper & Forest Products
* Lumber - In April 2014 China imported 2,080,000 m3 of lumber at an average cost of $326 per m3. Lumber imports are up 2% compared to April 2013 and up 13% YTD compared to the same period last year.
* Logs - In April 2014 China imported 5,130,000 m3 of logs at an average price of $241 per m3. Log imports are up 25% compared to April 2013 and are up a significant 30% YTD. We expect to see weakening data on log imports for May and June 2014.
* Month over month, pulp imports are up 5% for May 2014, lumber imports are down 6% for April 2014 and log imports are up 5% for April 2014. Month-over-month prices are down slightly for pulp for May 2014, up 3% for lumber for April 2014 and down 7% for logs for April 2014.