In August, the price for logs exported from the U.S. to China increased by 17% compared to the previous month, according to data from Lesprom.
This price hike comes amidst a decline in overall log exports from the U.S. to China, which have fallen sharply in 2022 due to factors such as new Chinese regulations and the risk of pest infestations. Despite the increase in August, U.S. log exports to China remain significantly lower than the previous year, with Southern Pine log shipments plummeting 98% through August 2022[2].
Citations:
[1] https://tradingeconomics.com/china/imports-of-logs-lumber
[2] https://www.fastmarkets.com/insights/us-log-exports-plunge-as-chinese-demand-stalls/
[3] https://www.globalwood.org/market/timber_prices_2023/aaw20230801d.htm
[4] https://www.nzherald.co.nz/the-country/news/forestry-nz-log-export-prices-down-for-august-supply-and-demand-causing-issues-marcus-musson/KMEVTSC67JDUXMYJNAFAE7DVLM/
[5] https://interior.gov.ng/procurement/
[6] https://www.argusmedia.com/en/news-and-insights/latest-market-news/2544321-sse-equinor-scrap-north-sea-h2-production-plan
[7] https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8943278/
[8] https://www.goa.gov.in/press-releases/