The log inventory in China continued to decline in August, and prices showed an upward trend. As of the end of August, the log inventory was 4.57 million m3, of which the radiata pine inventory was 3.46 million m3, the North American timber inventory was 430,000 m3, and the European spruce inventory was 300,000 m3.
Shipments stood at 66,000m3/day. In this context, the domestic inventory continued to decline, mainly due to the decrease in arrivals. The demand in the domestic market has improved due to the upcoming start of the construction season, and the domestic price has shown an upward trend.
The Chinese log import market is still seriously low. In terms of radiata pine, the mainstream quotations remained at EUR 147-150, and the customers' willingness to trade was not strong. In terms of European spruce, the prices range from 168 to 175.
Due to the decreasing number of offers, it is expected that the price will increase further in the future. The price difference between spruce and radiata pine will widen, returning to the original situation when spruce had no pest problems.
The total inventory in Shandong is about 2.4 million cubic meters, an increase of 12.3% compared with the first ten days of August. Lanshan Port’s log inventory: Radiata pine, North American and South American materials, and Russian materials totaling 1.77 million cubic meters; spruce totaling 60,000 cubic meters; daily shipments are 36,000 cubic meters.
Qingdao spruce log inventory is 100,000 cubic meters. The total inventory of Taicang, Jiangsu is 695,800 cubic meters. It is down 5% from the first half of August. The average daily shipment is about 9700 cubic meters.