Prepared by Glary NZ Market Insights
Market Overview
China’s imported softwood log market presented a more balanced picture during the third week of September. Industry estimates placed daily log consumption at approximately 58,000m³, an improvement from earlier in the month. However, stronger arrivals also produced a modest inventory rebuild, showing that consumption has not yet moved far enough ahead of incoming supply.
Pricing remained resilient. The Yangtze River Delta was broadly stable, while Shandong recorded the clearest regional strength as furniture-grade Radiata Pine became comparatively tight. The market is therefore becoming more differentiated: national demand is improving, but local end uses, grade availability and port logistics increasingly determine price direction.
Across Southeast Asia, demand continues to vary by application. Vietnam remains the leading regional market for Radiata Pine moulding and further processing, while Thailand offers opportunities across packaging, plywood and flooring.
China: Consumption Improves as Inventories Rebuild
China’s total imported log inventory increased modestly to approximately 2.58 million m³, including around 2.14 million m³ of New Zealand Radiata Pine. At the same time, daily consumption improved to about 58,000m³.
This combination suggests that the market has moved from a supply-tightening phase toward a more balanced supply-demand environment. Demand is stronger than it was several weeks ago, but the recovery in arrivals has been sufficient to prevent further inventory drawdowns.
The next important signal will be whether daily consumption can approach or exceed 60,000m³ while inventories stabilise or resume their decline. Until then, the Chinese market is better described as firm and balanced than strongly demand-driven.
Regional China Markets Diverge
Radiata Pine prices across the Yangtze River Delta remained broadly stable, with mainstream indications for commonly traded grades around the low-RMB 800s per cubic metre. Taicang port operations continued to normalise following earlier weather disruption, while increased berth availability improved vessel discharge capacity.
Xinminzhou and Jiangdu remained comparatively softer as processing orders showed limited improvement and buyers continued to purchase selectively. Further price gains in the region are therefore likely to depend more on downstream consumption than on logistical constraints.
Shandong provided the week’s strongest regional move. Lanshan Radiata Pine prices increased by approximately RMB20/m³, led by demand for longer-length and furniture-grade logs. Suitable fresh material became relatively tight, and some better construction grades were reportedly accepted for higher-value uses.
The Shandong increase reflects specific downstream demand and grade availability rather than a broad national shortage. Quality, freshness and storage condition will remain important differentiators as the season progresses.
New Zealand Radiata Pine Export Market
September New Zealand Radiata Pine export pricing to China remained firm. Mainstream CFR business continued to centre in the high-US$120s per JAS, with selected transactions above the general range depending on specification and shipment timing.
A softer New Zealand dollar than in late August supported exporter returns, while Chinese selling prices remained above levels recorded earlier in the year. Breakbulk freight nevertheless remains a major delivered-cost component, and energy-market volatility continues to create uncertainty around future shipping costs.
Export availability is also influenced by domestic processing demand, weather and harvesting economics. Buyers can review Glary NZ’s New Zealand and Australian log range for current species and sourcing coverage.
Manufacturing Supports China’s Demand Base
China’s property sector remains subdued and is unlikely to provide a major near-term catalyst for imported Radiata Pine. The improvement in daily consumption nevertheless demonstrates why the timber market cannot be assessed through residential construction alone.
Packaging, furniture components, mouldings, finger-jointed products, edge-glued panels and other manufacturing uses form an increasingly important demand base. Infrastructure and manufacturing activity can therefore support consumption even while property construction remains weak. Downstream sawmill orders and processing margins will be key indicators of whether current prices can be sustained.
Southeast Asia: Specialised Demand by End Use
Vietnam remains Southeast Asia’s principal market for New Zealand Radiata Pine, with demand concentrated in moulding and further processing. Domestic acacia, rubberwood and other plantation species often serve different product categories and are not complete substitutes for imported Radiata Pine.
Thailand presents a broader mix of potential uses, including industrial packaging, pallets, plywood and flooring. Indonesia and the Philippines remain longer-term opportunities in plywood and panel manufacturing, while Cambodia deserves attention as regional moulding, plywood and flooring investment expands.
Malaysia also has panel-sector potential, although fumigation and debarking requirements add cost and operational complexity to imported log supply.
Traceability and Market Access
Traceability continues to gain importance for Asian wood processors serving regulated markets. Reliable information on species, forest origin, harvest location and legality can support customers preparing for the EU Deforestation Regulation. New Zealand and Australian plantation forestry supply is well positioned where buyers require consistent documentation. Read more in Glary NZ’s Sustainability & EUDR overview.
Market Outlook
Three indicators will be particularly important over the coming weeks: Chinese daily log consumption approaching or exceeding 60,000m³; inventory stabilising despite normalised arrivals; and downstream processors passing higher raw-material costs into finished-product prices.
If these conditions develop together, the market would have a stronger foundation for another upward move. For now, the overall tone is firm but balanced, with substantial regional variation. Shandong provides the clearest example of end-use-driven strength, while the Yangtze River Delta is becoming more dependent on actual consumption growth.
Across Southeast Asia, opportunities remain constructive but specialised: moulding in Vietnam; packaging, plywood and flooring in Thailand; panel products in Indonesia and the Philippines; and moulding, plywood and flooring in Cambodia.
This Website Edition is general market commentary based on information available on 20 September 2026. Market conditions and commercial terms may change. For current availability, please contact Glary NZ.