Roundwood coniferous market in China

Earlier Report Observations

The coniferous roundwood market in China expanded from 131.6 million cubic meters in 2018 to a peak of 140.6 million cubic meters in 2021. This growth was supported by steady domestic production from concentrated southern and eastern regions, coupled with robust demand from the real estate sector for construction and decoration materials. Import volumes remained substantial, rising to nearly 50 million cubic meters in 2021 despite supply chain challenges, including increased shipping costs during the COVID-19 pandemic and the implementation of stricter wood inspection and quarantine regulations.

A sharp contraction followed, with the market falling to 117.4 million cubic meters in 2022 and 114.8 million cubic meters in 2023. The downturn was driven primarily by Russia's complete ban on log exports, which abruptly removed a key supply source and forced a rapid shift in import reliance toward New Zealand and Canada. Concurrently, a significant downturn in China's domestic real estate market reduced overall demand for roundwood, while persistently high freight rates further elevated the cost of imported material.

Significant regulatory and institutional developments shaped the market's structure during this period. Preparations for a domestic log futures contract, initiated in 2021, culminated in its formal launch in 2024, introducing new price discovery and hedging mechanisms. Furthermore, the introduction of updated national standards, such as the revised technical conditions for wood furniture, raised quality and testing requirements for roundwood, reflecting a broader trend toward increased industry standardization.

Production coniferous roundwood in China

In kind, 2017-2020, K m³

Globally, China ranked as the 4th largest producer of roundwood coniferous from 2017 to 2020.

Top producers of coniferous roundwood, 2017-2020

World map of production of coniferous roundwood, 2017-2020

Roundwood coniferous production in China fell for the second year in a row. In 2020, output reached 91 910 K m³, marking a 1.3% year-on-year decline. Production peaked in 2018 at 94 347 K m³, with the largest increase that year of 1.8%. The most significant drop occurred in 2019, also at 1.3%.

Annual dynamics of production in China in kind, 2017-2020, K m³

Exports coniferous roundwood from China

Market data indicates that China did not export any roundwood coniferous between 2017 and 2020.

Imports coniferous roundwood to China

Imports in kind, K m³

Roundwood coniferous imports into China rose for the second consecutive year. In 2020, imports totaled 41 046 K m³, up 3.9% year-on-year. Over the 2017-2020 period, imports grew by 7.3%, averaging 2.4% annually. The lowest import volume was in 2018 at 37 282 K m³, which saw the largest decline of 2.5%. The biggest increase happened in 2019, with a 5.9% rise.

Annual dynamics of product's imports to China in kind, 2017-2020, K m³

From 2017 to 2020, New Zealand (36.5% of imports by volume), Russia (16.5%), and Australia (10.6%) were the top sources for roundwood coniferous imports into China, together making up 63.5% of total imports.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to China in kind, 2017-2020

Imports in value, M $ US

Roundwood coniferous import values in China decreased for the second year in a row. In 2020, the import value stood at 5 464 M US dollars, down 3.2% compared to the previous year. Between 2017 and 2020, import values increased by 6.3%, with a compound annual growth rate of 2.1%. The highest value was recorded in 2018 at 5 786 M US dollars, which also saw the largest increase of 12.6%.

Annual dynamics of product's imports to China in value, 2017-2020, M $ US

During 2017-2020, New Zealand (38.6% of imports by value), Russia (14.1%), and the United States (11.1%) were the leading partners for roundwood coniferous imports into China in monetary terms, collectively accounting for 63.8% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to China in value, 2017-2020