Japan: Demand and supply of domestic softwood plywood

November 29, 2023
Source:
ITTO/Fordaq
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93
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According to the Ministry of Agriculture, Forestry and Fisheries, shipment of structural plywood in September, 2023 is 201,000 cbms, 6.6 % more than September, 2022. This is for the first time in thirteen months to be over 200,000 cbms. Shipment is 5 % increased from previous month. Production of structural plywood is 201,000 cbms, 10.3 % down from September 2022. This is for the first time in twelve months to be over 200,000 cbms.

Production of over 24 mm plywood is 92,000 cbms, 9.8 % less than the same month last year but this is 14 % more than the previous month. Inventory of structural plywood is 133,000 cbms, 4.1 % more than the same month last year. This is 0.4 % up from last month.

Inquiries to domestic softwood plywood are bullish even though demand for houses is low. Shipment at some distributors in Western Japan has been increasing since September. However, the demand for houses is unclear in the future so the distributors purchase domestic softwood plywood to fill current needs.

The price of domestic softwood structural plywood is on a slow decline. 12 mm, 3 x 6 is 1,600 yen, delivered per sheet. Some companies sell the domestic softwood structural plywood by 1,550 yen, delivered per sheet, for sales promotion. Shipment of thick softwood structural plywood is rising. 24 mm 3 x 6 is 3,200 yen, delivered per sheet, and this is unchanged price from the previous month. 28 mm 3 x 6 is 3,750 yen, delivered per sheet and this is also unchanged price from the previous month.

Movement of imported plywood is dull. Arrival volume of imported plywood has been declining but the inventory of imported plywood in Japan is not in short supply. Japanese importers hesitate to buy plywood due to the weak yen and low demand.

The price of South Sea plywood in South Asia levels off from last month but some South Asian shippers raised the price by US$10, C&F per cbm.

The South Asian shippers raised the price because the inventory of plywood in Japan has been decreasing. 12 mm 3 x 6 painted plywood for concrete form is $670 680, C&F per cbm. Structural plywood is US$560 570, C&F per cbm. Form plywood is around $580, C&F per cbm.

2.4 mm 3 x 6 plywood is around US$950, C&F per cbm. 3.7 mm 3 x 6 plywood is around $880, C&F per cbm. 5.2 mm 3 x 6 plywood is around US$850, C&F per cbm. These prices have been unchanged since summer.

The price of plywood will be raised in Japan due to the weak yen. 12 mm 3 x 6 painted plywood for concrete form is 1,990 2,000 yen, delivered per sheet and this is around 50 yen up from September. Structural plywood is 1,800 yen, delivered per cbm. 2.5 plywood is 780 yen, delivered per sheet. 4 mm plywood is 1,000 yen, delivered per sheet. 5.5 mm plywood is 1,200 yen, delivered per sheet.