China: wood market update

The import value of logs and lumber to China has fallen by 25 percent and import prices have declined almost 30 percent in 12 months because of declining housing constructions, reports the Wood Resource Quarterly. China imported softwood logs and lumber valued at 498 million dollars during the month of November in 2015. This was 26 percent lower than the same month in 2014 and the third lowest monthly level in three years. As recently as April 2014, the import value was at an all-time high of almost 900 million dollars. The reduced demand for both overseas and domestic wood products in 2015 has been a consequence of the slowdown in the Chinese economy, which has not only reduced construction activities but also consumer spending on home remodeling and furniture.