KUCHING: Japan’s monthly plywood imports has arrested the downward trend since this year, with double-digit increase in shipment volume reported in August 2023.
August’s import volume rose 23 per cent from the previous month of July to 115,000 cubic metres (cu m) but was down
more than 30 per cent compared to that of August 2022, according to data from Japan Finance Ministry.
Japan’s plywood import from key supplier Malaysia rebounded to 49,600 cu m in August (July: 38,800 cu m) and was the highest monthly recorded in 2023.
The lowest monthly import volume of 28,700 cu m was reported in April.
But month-on-month, Japan’s plywood imports from Indonesia dipped to 38,100 cu m (43,100 cu m). Imports from Vietnam expanded to 15,700 cu m (12,900 cu m) while shipments from China remained flat at 10,600 cu m.
“Year on year, the volume of plywood imports from the main shippers Indonesia, Malaysia, Vietnam and China all declined with sharper declines observed for Indonesia and Malaysia,” said International Tropical Timber Organisation (ITTO) Tropical Timber Market Report (Oct 1-15, 2023).
Official data showed that Indonesia was the top plywood supplier to Japan, totalling 334,000 cu m in first eight months of 2023 (8M2023), which was a sharp contraction from 538,800 cu m registered in 8M2022.
From Malaysia, Japan imported 316,700 cu m in 8M2023, shrinking from 552,500 cu m in 8M2022. Japan’s plywood shipments from China were down to 96,100 cu m from 185,700 cu m in 8M2022. Shipments from Vietnam remained little change at 115,100 cu m during the same period of comparison.
According to Japan Lumber Report (JLR), Japan’s movement of imported plywood is not good and there is low demand.
“The price of painted plywood for concrete firm in Southeast Asia was raised by around US$20, C&F per cu m in July. The price of normal plywood and structural plywood reached the bottom in summer and the price has been levelling off. The 2.4mm 3×6 plywood is around US$950, C&F per cu m, 3.7mm is around US$880, C&F per cu m, 5.2mm is around US$850, C&F per cu m.
“Structural plywood is around US$560, C&F per cu m, 12mm 3×6 painted plywood for concrete form is around US$670, C&F per cu plywood form is about US$560-580, C&F per cu m.
“The prices have been the same from last month. Since the fuel expenses and product costs are rising in South Asia, South Asian sellers expect to raise the price to Japanese buyers. However, the price was not raised due to low inquiries and the weak yen,” said JLR, its bi-monthly publication of which was reproduced by ITTO report.
On imported plywood, the JLR report said their prices are on the rise in Japan due to the weak yen. However, importers find it difficult to raise the prices due to the low demand.
On domestic plywood, the JLR report said movement of the product has been different for each distributor since last month.
There is a certain amount of order to trading firms because the number of workdays is more than August, and the heat has let up, so it is easier to work at construction sites.
Inventory of domestic structural plywood in August 2023 was 132,000 cu m, up 44.6 per cent from a year ago. Similarly, inventory of domestic structural plywood soared in August 2022, and the inventory in July 2023 was 66 per cent higher than July 2022.
Shipment of domestic structural plywood is 191,000 cu m, 4.3 per cent less than a year ago. Shipment had been increasing for three months continuously until July 2023 to 197,000 cu m.
