By market segment, in March 2026, China’s log imports reached 2.761 million cubic
meters, down 12.8% year-on-year but up 53.8% month-on-month; the import value rose 9.6%
year-on-year and 56.2% month-on-month to $460 million. The average unit price of imported logs
in March increased by 3.7% year-on-year.
Regarding sawn timber imports, in March
2026, China imported 1.917 million cubic meters of sawn timber, a year-on-year decrease of 16.2%
but a month-on-month increase of 35.1%. The import value fell 8.8% year-on-year to $540 million,
while rising 35.5% month-on-month. The average import price for sawn timber in March continued
its two-month growth trend, rising 8.8% year-on-year.
Changes in the Supply
Landscape
In March, most of the top ten countries supplying timber to China saw both volume
and price increase, while New Zealand, Russia, the United States, and Belarus experienced
negative growth.
Supplies from New Zealand and Russia remained firmly in the top two
positions, but import volumes fell by 9.8% and 29.4%, respectively. Notably, imports from Russia
dropped significantly from 1.284 million cubic meters in the same period last year to 907,000
cubic meters.
Exports to China from Thailand, Papua New Guinea, and Canada increased by
3.6%, 15.1%, and 16.7% year-on-year, respectively. Notably, Papua New Guinea’s log exports to
China rose from just 51,400 cubic meters in February to 210,000 cubic meters in March—a more
than threefold month-on-month increase—becoming the primary driver of the country’s export
growth to China.
The Republic of the Congo emerged as the standout performer, with exports
to China reaching 63,000 cubic meters in March—a 39% year-on-year increase—ranking first among
the top ten supplier countries in terms of growth rate.
Exports from other countries, such
as the United States and Belarus, declined by 34.2% and 17.4% year-on-year, respectively;
meanwhile, the Philippines saw a 25.7% year-on-year increase; and Japan remained flat compared
to the same period last year, with a slight rise of 0.9%.
By Wood Species
In
March, imports of softwood fell 18.6% year-on-year to 3.017 million cubic meters, while the
average import price declined slightly by 3.2% year-on-year. Specifically, imports of softwood
logs and sawn timber totaled 2.036 million cubic meters and 981,000 cubic meters, respectively,
representing year-on-year declines of 12.1% and 29.5%.
Performance varied across other
timber species: imports of eucalyptus logs fell sharply by 39.6%; imports of okoume logs rose by
only 50% year-on-year; imports of North American hardwood logs declined by 45.3%, while imports
of North American hardwood lumber increased by 55.9%; notably, imports of meranti logs from
Papua New Guinea surged by 135.2%. In addition, Thailand’s exports of rubberwood to China rose
slightly by 3.4%, marking a substantial month-over-month increase of 79.2% compared to February,
while the average export unit price rose by 8.8% year-over-year.
Overall, in the first
quarter of 2026 (January–March), China’s total timber imports amounted to 12.181 million cubic
meters, a year-on-year decrease of 12.4%; the value of imports was approximately $2.59 billion,
a year-on-year decrease of 9.4%.
In addition, exports of timber and timber products
from China also showed a downward trend in March. Exports in March fell by 14.5% year-on-year,
while the cumulative export growth for January–March slowed to 16%. By product category, exports
of plywood and similar multilayer panels declined by 11% year-on-year, though cumulative exports
for January–March rose by 24% year-on-year. Exports of wood products for household and
decorative use also weakened, with March exports down 25.9% year-on-year and cumulative exports
for January–March down 1.8% year-on-year.
Overall, the month-over-month surge in imports in
March was primarily driven by seasonal factors, while the year-over-year decline reflects the
weakness of actual market demand, with high costs being the key suppressing factor. Looking
ahead, the imported timber market will continue to face multiple competing forces, and the
market may remain volatile in the short term.
