Total supply of plywood (including flexible plywood, flexi ply, commercial plywood…) in Japan for the first half of this year was 2,916,200 cbms, 5.6% less than the same period of last year.
Domestic plywood supply is 1,618,100 cbms, 1.1% more while imported supply is 1,298,000 cbms, 12.7% less. Shipment of domestic plywood exceeded the production but market of imported plywood continued stagnant with dull shipment.
Monthly volume of imported plywood continued low. January volume was over 250,000 cbms then it was less than 200,000 cbms in May and June. The volume from Malaysia was 475,200 cbms, 12.3% less and Indonesia was 432,700 cbms, 14.9% less. Volume from China was 297,500 cbms, 9.1% less and others are 92,500 cbms, 15.6% less. Sluggish market in Japan and high export prices make future purchase difficult.
Shipment of domestic plywood was 1,643,800 cbms, 5.7% more out of which softwood plywood is 1,572,300 cbms, 6.0% more. Flexible plywood is 1,447,000 cbms, 4.8% more. Production of softwood plywood in June recorded the highest of 276,300 cbms and the shipment was 270,200 cbms so June end inventory was 141,200 cbms, only 8,600 cbms increase since last January.
Movement of domestic softwood plywood has been very active. Precutting plants placed orders as August had longer holidays than normal years and thick panel deliveries are delayed as securing trucks is becoming difficult chronically now.
All the plywood mills are running to the full but delivery delay occurs. July production and shipment were record high and the inventory is dropping.
Long panel producing lines broke down in plywood mill in Western Japan so supply of long length panel is getting tight. Other mills try to cover this but producing long length panels mean reduced production of standard 12 mm 3×6 panel so it is not easy to make long panel now.
Imported plywood (flexible plywood and commercial plywood) volume has been less than 200,000 cbms a month for three straight months but the movement in Japan continues dull and slow. The importers are unable to place orders for future cargoes because of high export prices and sluggish Japan market.
Among inventories of imported flexible plywood, there are some short items and a balance is off by items. Port inventories are not high but the market does not feel any shortage feeling. Recent strong yen makes future cost down so the market prices are further weakening.
Source: Internet
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