The article discusses the recent fluctuations in the price of construction wood and furniture materials, highlighting how the rise in timber costs is not necessarily directly linked to furniture prices. Although some imported timber has seen a price increase due to U.S. economic recovery, very little of this timber is suitable for furniture production. Many claim that rising material costs are just an excuse for higher furniture prices, but the reality is more complex.
In 2012, China’s log imports saw their first negative growth, with a drop of 4.433 million cubic meters compared to the same period in 2011. While New Zealand timber imports rose by 4.59%, other major sources like Russia experienced significant declines. Russian wood imports fell by 20.52% to 11.183 million cubic meters. Meanwhile, Southeast Asian timber prices have been decreasing, while pine from North America has seen a surge in cost.
A veteran in the wood trade, with over two decades of experience, explains that most U.S. and Canadian pine is used for construction, not furniture. So, increases in building timber prices mainly affect builders and construction firms, not the furniture industry. At Rugao Port in Jiangsu, automated systems efficiently handle large shipments of Russian white pine, showing the scale of the timber trade.
Song Huiqun, general manager of Jiangsu Hongrong International Trade Co., Ltd., has noticed new business opportunities due to recent price hikes. Domestic white timber, such as Baisong, has risen by 45.5%. In April 2012, logs measuring 14–20 cm in diameter were priced at $112 per cubic meter, but now they’ve climbed to $163.
Although domestic port prices vary, the Australian radiata pine model A has gone above 1,000 yuan per cubic meter, up from 930 yuan before the Spring Festival. Song notes that while raw material costs are rising quickly, it takes time for these increases to reach finished products.
North American timber prices continue to rise, partly due to increased demand for post-hurricane reconstruction and the removal of import tariffs on Canadian cork timber. This has led to more timber being sent to the U.S., reducing the volume exported to China.
U.S. housing starts between January and November 2012 reached 750,000 units, a 20% increase year-on-year. Industry experts predict that 900,000 units in 2013 should be achievable, possibly exceeding one million. However, Song emphasizes that the U.S. price hikes are for building materials, not furniture-grade wood.
According to market surveys, the most commonly imported timber in China includes spruce, hemlock, and red pine—used primarily for construction, landscaping, and interior design, with furniture being a minor application. On February 8, the price of these three types was $397 per cubic meter, rising to $408 by February 15, compared to $284 per cubic meter in the same period last year.
In Beijing’s Dongba market, imported furniture woods like walnut, oak, maple, and cherry remain unaffected by recent price changes. The hardwood market remains closed, with Burmese and Myanmar rosewood prices stable. Due to the Spring Festival holiday, shipments of red walnuts and similar woods have slowed, making the market quiet.
A market manager notes that the time it takes for raw material price increases to affect final product prices can allow companies with large inventories to take advantage and clear stock. This suggests that while timber prices are rising, the impact on furniture pricing is not immediate or uniform.
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