Yuzhu Wood Composite Price market transaction volume saw slight decrease on Feb 17, however, many categories saw increase, especially redwood and man-made board market were buoyant. Redwood composite index pushed Yuzhu Wood Composite Index to 143.49, a month-on-month increase of 2.51 points or 1.78 percent. Redwood index went up 20.58 percent to 170.13; log index went down 2.53 percent to 153.19, with both import and domestic log saw falling, down 2.65 percent and 2.58 percent respectively; Converted timber went down 1.83 percent to 141.46, with domestic converted timber reported 143.05 points; Man-made board climbed up 4.54 percent to 139.22 points.
1. Great transaction volume pushed redwood index to rocket 20 percent
Supported by increasing volume of Cocobolo Rosewood and Indonesia Dark Rosewood, redwood index saw retaliatory price increase, closing 170.13, a month-on-month increase of 29.04 points or 20.58 percent. Despite minor fluctuation in Cocobolo Rosewood and Indonesia Dark Rosewood index today, the rise in transaction volume boosted the overall composite price index. It is monitored that Cocobolo Rosewood transaction volume doubled yesterday’s, and Indonesia Dark Rosewood also increased 25 percent. According to market analysts, traders wouldn’t give up making money in spring, therefore, there is much space of profits for Cocobolo Rosewood and Indonesia Dark Rosewood as they are both high-end wood. However, currently the major wood price index was in recovery, there would be no great price rise. Cocobolo Rosewood saw transaction price reported 26,500 RMB/ton, and Indonesia Dark Rosewood, quoted 17,400 RMB/ton, down 100 RMB/ton. African Padauk, despite minor transaction volume, saw transaction price rise, the price index reported 126.58 points, a month-on-month increase of 1.17 percent. Maidu rosewood and African Wenge today's price index were fluctuated within 0.6 percent.
2. Log price index dropped 2.53 percent with minor fluctuation.
Shorea-Imported Log-Standard: above 3-9m*100cm
Today, log index reported a month-on-month falling of 3.97 points or 2.53 percent to close 153.19.
Imported log Koompassia Malaccensis and Merbau price index continued dropping today, down 2.13 and 0.57 percent respectively. Koompassia Malaccensis transaction volume doubled yesterday's and Merbau aslo saw 22.22 percent increase over the previous day. Estoraque saw a month-on-month decrease of 0.9 percent to 140.55. And the transaction price was reported 3,300 RMB/cubic, down 30 RMB/cubic over the previous day. Camphorwood and Shorea price index rose with minor fluctuation, reporting 175.05 and 227.26 points respectively. Despite high price of Shorea in Malaysia, traders in coastal area still showed special preference, which made recent market booming. But according to wood traders, there was obvious decrease in wood purchase this year. The Shorea price today was 5,280 RMB/cubic.
Dragged down by the price cut of Mongolian Scotch Pine, domestic log index had a month-on-month decrease of 3.94 points or 2.58 percent to close 148.63. After climbing to over 160 points high yesterday, Mongolian Scotch Pine price index today fell back to 154.7 points, down 4.35 percent. Currently, Mongolian Scotch Pine storage was ample; therefore there is much space for falling in after-market. Chinese oak and Basswood price index rebound to be buoyant. Chinese oak reported 143.54 today, up 1.04 percent over the previous month, while Basswood was 172.77 points, up 1.19 percent. Manchurian Ash was weak today and went down 1.14 percent. The transaction price was 4,350 RMB/cubic.
