Veneer Sheets Prices in China

China Veneer Sheets Export Price in September 2022

In September 2022, the veneer sheets price stood at $1,296 per cubic meter (FOB, China), approximately equating the previous month. Over the last eight months, it increased at an average monthly rate of +2.3%. The most prominent rate of growth was recorded in February 2022 when the average export price increased by 21% m-o-m. The export price peaked at $1,443 per cubic meter in July 2022; afterwards, it flattened through to September 2022.

Prices varied noticeably by the country of destination: the country with the highest price was Thailand ($2,185 per cubic meter), while the average price for exports to Taiwan (Chinese) ($604 per cubic meter) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

China Veneer Sheets Export Prices by Type

There were significant differences in the average prices for the major types of exported product. In September 2022, the product with the highest price was wood, tropical; dark red meranti, light red meranti, meranti bakau, sheets for veneer or plywood, other wood sawn lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, not thicker than 6mm ($10,980 per cubic meter), while the average price for exports of wood; coniferous, sheets for veneer or plywood, other wood sawn lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, not thicker than 6mm ($1,283 per cubic meter) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for the following types: wood, tropical; dark red meranti, light red meranti, meranti bakau, sheets for veneer or plywood, other wood sawn lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, not thicker than 6mm (+66.0%), while the prices for the other products experienced mixed trend patterns.

China Veneer Sheets Exports

In September 2022, the amount of veneer sheets exported from China shrank markedly to 32K cubic meters, with a decrease of -17.3% against the previous month's figure. In general, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in March 2022 with an increase of 73% month-to-month. The exports peaked at 73K cubic meters in January 2022; however, from February 2022 to September 2022, the exports failed to regain momentum.

In value terms, veneer sheets exports dropped sharply to $41M (IndexBox estimates) in September 2022. Over the period under review, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in March 2022 with an increase of 74% m-o-m. Over the period under review, the exports reached the peak figure at 79M cubic meters in January 2022; however, from February 2022 to September 2022, the exports failed to regain momentum.

China Veneer Sheets Exports by Type

Wood; n.e.s. in heading no. 4408, sheets for veneer or plywood, other wood sawn lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, not thicker than 6mm (30K cubic meters) was the largest type of veneer sheets exported from China, with a 95% share of total exports. It was followed by wood, tropical; (as in subheading note 1, chapter 44, customs tariff), n.e.s. in item no. 4408.31, sheets for veneer or plywood, other wood sawn length wise, sliced or peeled, whether or not planed, sanded or finger-jointed, not thicker than 6mm (906 cubic meters), with a 2.8% share of total exports. Wood; coniferous, sheets for veneer or plywood, other wood sawn lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, not thicker than 6mm (638 cubic meters) ranked third in terms of total exports with a 2% share.

From January 2022 to September 2022, the average monthly growth rate of the volume of export of wood; n.e.s. in heading no. 4408, sheets for veneer or plywood, other wood sawn lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, not thicker than 6mm amounted to -10.1%. With regard to the other exported products, the following average monthly rates of growth were recorded: wood, tropical; (as in subheading note 1, chapter 44, customs tariff), n.e.s. in item no. 4408.31, sheets for veneer or plywood, other wood sawn length wise, sliced or peeled, whether or not planed, sanded or finger-jointed, not thicker than 6mm (-2.1% per month) and wood; coniferous, sheets for veneer or plywood, other wood sawn lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, not thicker than 6mm (-1.8% per month).

In value terms, wood; n.e.s. in heading no. 4408, sheets for veneer or plywood, other wood sawn lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, not thicker than 6mm ($39M) remains the largest type of veneer sheets exported from China, comprising 94% of total exports. The second position in the ranking was held by wood, tropical; (as in subheading note 1, chapter 44, customs tariff), n.e.s. in item no. 4408.31, sheets for veneer or plywood, other wood sawn length wise, sliced or peeled, whether or not planed, sanded or finger-jointed, not thicker than 6mm ($1.4M), with a 3.5% share of total exports. It was followed by wood; coniferous, sheets for veneer or plywood, other wood sawn lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, not thicker than 6mm, with a 2% share.

From January 2022 to September 2022, the average monthly growth rate of the export volume of wood; n.e.s. in heading no. 4408, sheets for veneer or plywood, other wood sawn lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, not thicker than 6mm stood at -7.9%. With regard to the other exported products, the following average monthly rates of growth were recorded: wood, tropical; (as in subheading note 1, chapter 44, customs tariff), n.e.s. in item no. 4408.31, sheets for veneer or plywood, other wood sawn length wise, sliced or peeled, whether or not planed, sanded or finger-jointed, not thicker than 6mm (-5.9% per month) and wood; coniferous, sheets for veneer or plywood, other wood sawn lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, not thicker than 6mm (-3.2% per month).

China Veneer Sheets Exports by Country

Vietnam (6.5K cubic meters), South Korea (4.3K cubic meters) and Taiwan (Chinese) (4K cubic meters) were the main destinations of veneer sheets exports from China, together accounting for 46% of total exports.

From January 2022 to September 2022, the biggest increases were in South Korea (with a CAGR of +1.5%), while shipments for the other leaders experienced a decline.

In value terms, Vietnam ($11M) remains the key foreign market for veneer sheets exports from China, comprising 26% of total exports. The second position in the ranking was held by Malaysia ($3.4M), with an 8.1% share of total exports. It was followed by South Korea, with a 6.9% share.

From January 2022 to September 2022, the average monthly growth rate of value to Vietnam totaled -10.4%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Malaysia (-3.9% per month) and South Korea (-4.2% per month).

Source: IndexBox Market Intelligence Platform