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The timber market has remained sluggish recently, but some timber species have shown promising signs of recovery amidst the market downturn. The following information, gathered by our reporter during visits to the timber market, is provided for readers' reference.
The market for Bubinga rosewood remains strong. Recently, the market for Bubinga rosewood has seen a surge in popularity and increased sales volume. Merchants indicate that Bubinga rosewood is popular in China due to its stable wood texture, fine grain, and rich red color. Driven by the current peak season for home decoration, sales are naturally robust. Regarding supply, merchants report that the processing speed for endangered species certificates from countries like Cameroon has significantly accelerated this year, leading to a greater influx of Bubinga rosewood into China and alleviating the domestic market's inventory shortage. However, the high cost of obtaining endangered species certificates keeps the procurement cost of Bubinga rosewood high, resulting in stable prices in the domestic market. Currently, in the Guangdong market, Bubinga rosewood measuring 2-4 meters in length and 5 cm in thickness, grade A, is priced at 22,000-23,000 yuan per cubic meter.
Prices for ash and red oak veneers have fallen. Recently, the North American timber market has been sluggish due to a lack of positive factors, with prices for some species, such as ash and red oak, declining by approximately 200 yuan per cubic meter. Some traders stated that the recent price drops in ash and red oak are mainly concentrated in veneers. This is primarily because domestic demand has been extremely weak this year, leading to a significant backlog of veneer inventory in overseas markets. As a result, international prices for ash and other timber species have continued to decline, subsequently dragging down domestic prices for ash and red oak. Traders also indicated that the US-China trade war has dampened domestic demand, with order volumes only about 50% of the same period last year. Some traders even had zero orders in March. Currently, in the Guangdong market, ash wood (2.15-3.05m long, 1-2 inches thick, FAS grade) is priced at 6800-7800 yuan/cubic meter; red oak (2.15-3.05m long, 1-2 inches thick, FAS grade) is priced at 6300-8300 yuan/cubic meter.
The supply of African rosewood (Pterocarpus erinaceus) may become tight in the future. According to investigations, the strict customs inspections of Nigerian African rosewood are still unfolding. While many traders are hesitant due to this incident, the market is expected to face supply shortages as new arrivals decrease, especially towards the end of the second half of the year. Incomplete statistics indicate that the current domestic stock of African rosewood is around 15,000-16,000 containers (including spot, in transit, and arrived goods). Currently, the price of African rosewood in the Guangdong market has not shown significant fluctuations, with transaction prices remaining around 5,500-6,500 yuan/ton.