Plywood Price in China - 2023

Contents:

1. Plywood Price in China (FOB) - 2023
2. Plywood Price in China (CIF) - 2023
3. Plywood Exports in China
4. Plywood Imports in China

Plywood Price in China (FOB) - 2023

In June 2023, the average plywood export price amounted to $415 per cubic meter, shrinking by -2.7% against the previous month. Over the period under review, the export price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in January 2023 an increase of 6.7% m-o-m. Over the period under review, the average export prices reached the peak figure at $507 per cubic meter in July 2022; however, from August 2022 to June 2023, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Canada ($700 per cubic meter), while the average price for exports to Thailand ($293 per cubic meter) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-0.6%), while the prices for the other major destinations experienced a decline.

Plywood Price in China (CIF) - 2023

The average plywood import price stood at $571 per cubic meter in June 2023, with a decrease of -4.1% against the previous month. Over the period under review, the import price recorded a slight descent. The pace of growth appeared the most rapid in February 2023 when the average import price increased by 48% month-to-month. As a result, import price reached the peak level of $919 per cubic meter. From March 2023 to June 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In June 2023, the country with the highest price was Russia ($504 per cubic meter), while the price for Malaysia ($289 per cubic meter) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was attained by Indonesia (-1.1%), while the prices for the other major suppliers experienced a decline.

Plywood Exports in China

In 2022, the amount of plywood exported from China reduced modestly to 9.9M cubic meters, with a decrease of -4.9% compared with 2021 figures. The total export volume increased at an average annual rate of +4.7% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 26%. As a result, the exports reached the peak of 10M cubic meters, and then shrank modestly in the following year.

In value terms, plywood exports dropped significantly to $4.5B in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 40% against the previous year. As a result, the exports reached the peak of $5.9B, and then dropped markedly in the following year.

Top Export Markets for Plywood from China in 2022:

1. Philippines (1004.4K cubic meters)
2. United Kingdom (680.5K cubic meters)
3. Japan (651.2K cubic meters)
4. United Arab Emirates (500.7K cubic meters)
5. Saudi Arabia (438.8K cubic meters)
6. Mexico (388.2K cubic meters)
7. Australia (372.7K cubic meters)
8. Vietnam (342.8K cubic meters)
9. United States (339.0K cubic meters)
10. Belgium (319.1K cubic meters)
11. Thailand (316.1K cubic meters)
12. Nigeria (315.0K cubic meters)
13. Israel (246.9K cubic meters)

Plywood Imports in China

In 2022, imports of plywood into China surged to 242K cubic meters, jumping by 54% compared with the previous year's figure. Overall, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +19.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.0% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, plywood imports surged to $179M in 2022. The total import value increased at an average annual rate of +12.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 18%. Imports peaked in 2022 and are likely to continue growth in the near future.

Top Suppliers of Plywood to China in 2022:

1. Russia (191.5K cubic meters)
2. Indonesia (18.0K cubic meters)
3. Malaysia (6.2K cubic meters)
4. Japan (6.1K cubic meters)
5. Finland (5.3K cubic meters)

Source: IndexBox Market Intelligence Platform