China's timber prices see slight decline in May

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ITTO/Fordaq
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Timber prices in China have been unstable at the beginning of May 2022. Also, prices have been trending down by around RMB20 per cubic metre for radiata pine, hemlock, spruce and fir, scots pine from Jiangsu Province; radiata pine and scotch pine from Shandong Province; radiata pine in Hebei Province and Tianjin Municipality; radiata pine, spruce and fir, hemlock in Fujian Province.

Timber prices are closely related to activity in the housing sector. According to the National Bureau of Statistics housing construction started on 298.38 million square metres in the January-March period, down 17.5% year on year.

The utilisation rates of downstream projects have been relatively low as demand for all types of building materials is still weak and sales of construction timbers are flat. As the epidemic is brought under control production will be resumed and market demand is expected to recover driven by government initiatives but timber prices are likely to fluctuate for some time to come.

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