China's lumber imports soar16 February 2011
China’s imports of lumber soared by 49% in 2010, according to Wood Markets’ monthly China Bulletin.
The imports rocketed to 14.7 million m³, worth US$3.8bn, while log imports were up 22% to 34.3 million m³ (US$6.1bn).
Softwood log imports were up 20% to 24.2 million m³ and hardwood logs rose 46% to 10 million m³.
Lumber imports grew due to growing market demand and to offset decreasing log volumes from Russia.
“A quickly recovering and expanding economic scenario in China during 2010 has created a bull market for exporters to China,” said the report.
Russia was the top exporter of lumber to China, shipping 4.4 million m³, up 40% on 2009, followed by Canada at 4 million m³ (+65%) and the US – 1.43 million m³ (+54%).
Canada is expected to overtake Russia as China’s largest lumber supplier in 2011.
China’s demand for raw wood materials and finished wood products is expected to increase by 8-10% per year due to growing consumer purchasing power and increased personal expenditure.