In 2024, Russian softwood lumber exports to China experienced a notable decline, influenced by various market dynamics and geopolitical factors. Despite Russia`s significant contribution to China`s lumber imports in previous years, recent data indicates a shift in this trend. According to the General Administration of Customs, from January to April 2024, Russia`s timber trade volume with China reached $972 million, marking a 4.88% increase year-on-year. However, timber exports to China rose modestly by 2.6% to 4.78 million cubic meters during the same period, positioning Russia as the second-largest supplier of timber imports to China.

This modest growth contrasts with previous years where Russia accounted for a more substantial share of China`s softwood lumber imports. Factors contributing to this decline include geopolitical tensions and shifting trade dynamics. The European Union`s embargo on Russian wood products, implemented in July 2023, redirected Russian exports towards China. However, this shift has not fully compensated for the loss of European markets.

In terms of pricing, the average price for softwood sawlog sales was £59.94 per cubic meter overbark in nominal terms in the six-month period to September 2024, an increase from £55.98 in the six months to March 2024 and £55.30 in the six months to September 2023. These developments underscore the evolving landscape of the global lumber market. Industry professionals must stay informed about such trends to navigate the complexities of international trade effectively.

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Sources:
1. yspaper.com
2. woodcentral.com.au
3. forestresearch.gov.uk