Overview of plywood industry chain
> Part 1: □ Part II: □ Part III: □ Part IV: □ Part V: □ Part VI:
Part 1 Overview of varieties
World plywood production, consumption and trade overview
China’s production, consumption, trade situation; Introduction to the plywood industry chain How plywood companies participate in hedging BB Recent Fundamental Trend Analysis (July).
The plywood is a three M or polysom plate made of wood that is rotated into single sheets or cut into thin wood by wood square planing, and then combined with adhesive.
In 2021, China’s total plywood production reached 242 million cubic meters, market size
Nearly 300 billion, of which the production of woodworking board reached 20.34 million cubic meters, the market size of nearly 50 billion.
Other plywood 15mm and 18mm 70%
building templates 62%.
Other sizes 30%
plywood product category 21%.
Carpentry board is the second largest sub-species of plywood, with the lowest amount of glue and the highest degree of standardization, with 15 and 18mm thickness accounting for 70%, more than 40 billion.
Plywood delivery quality standards in accordance with the national standard “fine woodworking board”(GB/T5849) system, product grade is first-class, in line with solid, glue, double-sided sand, indoor general use of the five-layer fine woodworking board related requirements, length and width specifications of 2440 X 1220 mm, thickness 15mm is standard,18mm is a substitute, formaldehyde release limited grade E1 is standard, Level E2 is a substitute.
Poplar Makeup E(Middle) Fir (Obsession,Yangmu, Malacca) core,Poplar E(Middle)
1.2Plywood contract design
|Trading units||500 sheets/hands|
|Futures contracts:||Quote unit||RMB (RMB) / sheet|
|Minimum variable price||0.05 yuan/sheet|
|plywood||Ups and downs stop the plate range||4% of the settlement price of the previous transaction|
|The contract month||1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, Dec|
|Trading hours||Monday to Friday from 9:00 a.m. to 11:30 p.m. and from 13:30 p.m. to 15:00 p.m|
|Final deal||The 10th trade of the month of the contract|
|Final delivery||The 3rd trading session after the last trading day|
|Delivery level||Dalian Commodity Exchange fiberboard delivery quality standards|
|The place of delivery||Dalian Commodity Exchange fiberboard designated delivery warehouse|
|Minimum trading margin||5% of the contract value|
|Delivery method||Physical delivery|
|The transaction code||BB|
carpentry board because of its light weight, durability and easy processing, as well as hardness, size stability and so on, has become the ideal material in the furniture industry, furniture consumption accounted for 63% of the total consumption of carpentry board. At the same time, different grades of carpentry board can be used rationally, such as low-grade carpentry board can be used as a floor lining; cabinet plywood suppliers near me.
2.1 Overview of world plywood production
In recent years, the world-wide woodworking board has developed rapidly, showing a trend of diversification.
According to preliminary statistics, the global carpentry board is mainly distributed in Asia, the Americas and Europe, these three continents account for more than 80% of the total global carpentry board production. In 2011, the top three countries in woodworking production were China, Malaysia, West Asia and Indonesia.
The main producers and production of fine woodworking boards in 2011
2.2 Overview of world plywood consumption;
China is currently the world’s largest consumer of plywood and carpentry boards, reaching 44.98 percent and 27.83 percent, respectively, far more than other countries. In addition, Canada, India, the United States, Japan and other countries, woodworking board consumption is also relatively large.plywood suppliers gold coast
2.3 Trends in the global plywood trade pattern
1. From all continents, plywood production is mainly concentrated in Asia Pacific and North America, of which the Asia-Pacific region accounts for more than half of the world’s total production. In recent years, with the decline of plywood production in Indonesia, India and other countries, as well as the continued increase in plywood production in China, China’s plywood production in all M Asia and even the world occupy an increasingly important position. China’s plywood production is 45.298 million tons per year, accounting for 76% of the region’s total production.balsa plywood suppliers.
with the rapid development of the world economy, the competition in the carpentry board market will be even more intense in the future. The demand for carpentry panels in the international market is M10-20% peryear. increasing the speed.
3.1 China’s production situation;
In 2012, China’s total plywood production reached 142 million cubic meters, the market size of nearly 300 billion, of which the production of fine woodworking board reached 20.34 million cubic meters, the market size of nearly 50 billion. At present, the production of carpentry board provinces are mainly Jiangsu, Shandong, Zhejiang, Hebei, Fujian, Anhui, Guangxi and so on.
Production and growth rate of carpentry boards, 2017-2021
According to the China Wood and Wood Products Circulation Association’s “Wood Products Manufacturing Purchasing Manager Questionnaire”, the overall production situation of plywood manufacturing industry in China and I has continued to develop steadily in recent years, but the production growth rate fluctuated greatly, during the 2008-2009 International | financial crisis and since 2011 the severe real estate fire rated plywood suppliers near me.
During the period of regulation and control, the pressure of overcapacity in the industry has been reduced to a further level. From 2018 to 2021, the average operating rate of China’s plywood industry remained at about 60%-70%.
Factors affecting the size of plywood market Factors affecting the size of plywood market in China mainly include GDP, wood furniture production, construction decoration industry output value, etc plywood apparent consumption growth rate and building decoration industry value growth rate showed a high degree of consistency, while GDP growth rate, The growth rate of wood furniture production, etc. is also related to the apparent consumption growth rate of plywood. Request a Quote
At present, China has a certain scale of plywood enterprises about 3000, of which 90% of the enterprise size in the annual output of less than10,000 cubic meters, but only more than 200 enterprises annual productivity of up to 20,000 cubic meters. These enterprises can be divided by scale ( 1) large enterprises, distributed in Shanghai, Jiangsu, Guangdong and other coastal cities, annual production capacity of 50,000 to 200,000 cubic meters, raw materials mainly imported, product volume reached the Indian board grade, high level of technical equipment, product quality and stability, representing China’s plywood production of the leading force and development direction, its products in the domestic market dominated the M position. (2) Medium-sized enterprises, distributed in Guangdong, Zhejiang and some inland provinces, the scale of investment M-funded generally millions of yuan,jewson marine plywood the table board mainly purchased from abroad, core plate using domestic materials. Product quality mid-grade, sold in the city. (3) Small and hand workshops
China’s plywood industry is the main production enterprises marine plywood 6mm jewson.
At present, China has a certain scale of plywood enterprises about 3000, of which 90% of the scale of enterprises in the annual output of less than 10,000 cubic meters, but only more than 200 enterprises annual productivity of up to 20,000 cubic meters. These enterprises can be divided into three categories according to the size:(1) large enterprises, distributed in Shanghai, Jiangsu, Guangdong and other coastal cities, annual production capacity of 50,000 to 200,000 cubic meters, M raw materials mainly imported, product quality to Indonesia board grade, high level of technical equipment, product quality and stability, representing the leading force and development direction of plywood production in China, its products in the domestic market dominated. (2) Medium-sized enterprises, distributed in Guangdong, Zhejiang and some M inland provinces, the scale of investment is generally millions of yuan, the table board is mainly purchased from abroad, core plate mining with domestic materials. Product quality mid-grade, sold in the city. (3) Small and hand workshop-style enterprises, most plywood production from here, mainly distributed in the eastern and southern coastal areas, including Zhejiang, Jiangsu, Fujian and Guangdong, as well as the northern Shandong Linyi, Hebei and other M areas, the scale of investment is only a few hundred thousand yuan or even hundreds of thousands of yuan, these plywood is mainly used for furniture production, non-knot f Tick building materials and interior decoration, products for the rural market, simple technology and equipment, low-grade products. On January 16, 2013, more than 100 media outlets in 20 provinces and cities in China, jointly led by authoritative building materials industry research institutions, released the 2012 China Plywood Top 10 Brands Ranking (from China Wood Network) through a survey of consumers in 20 provinces and cities, network surveys and impartial selection of building materials industry experts.84 lumber marine plywood. The specific ranking is as follows:
Bohai Region Yunnan 15
2011 Plywood Sub-Saving Net Outflow
Shandong Hebei Hunan Guangxi Anhui Fujian Jiangxi Liaoning Shanghai Beijing Guangdong –78.98%
4. Plywood industry chain participants and their role
□ plywood industry chain is longer, more participants, including forest farmers, timber distributors, timber transporters, adhesive manufacturers, plywood manufacturers, plywood distributors, plywood transporters, plywood terminal vendors, plywood and downstream industry manufacturers. Participants can be in production and processing classes and circulation classes, where circulation class participants occupy an increasingly important waterproof plywood manufacturers position in the plywood industry chain.
Production costs are mainly divided into several large blocks, accounting for the largest proportion of wood raw materials. The increase in the price of wood has a great impact on the cost of artificial board price increases, basically accounting for 40%-50% of the production costs.
Second, adhesive. Adhesives are by-products of petroleum and are chemicals, formaldehyde and urea. Once the international market oil price increases, domestic adhesive prices will also increase, so that the price of oil will also have an impact on the price of wood artificial plate, the cost of about 20% or more. Some are a little more, 25% more not more than 30%.
Then there’s the labor force. In recent years, the annual growth rate of the labour force has been 20%. Around, labor force in the entire production cost of artificial plate less than 10%. Others, such as waterproofs, paraffin, and depreciation, the biggest of which, of course, is logistics costs. From the manufacturer to the market, a cubic meter of artificial plate basically accounted for 5% of its total price, some high accounted for 10%. ply board suppliers
logistics costs are also affected by rising international oil prices, and logistics costs have increased over the years. 5. Plywood enterprises to participate in hedging M industry in the face of market price fluctuations, the ability to resist risks is relatively weak
At present, the spot market, like fiberboard and carpentry board, it should be said that China is currently the world’s largest producer and consumer of artificial board, M China’s artificial board industry development situation is relatively low concentration, especially plywood, the size of enterprises relative f Make small. The price fluctuations of this day and waiting days are still quite large. In the timber market, the daily movement is 3%-5. /◦。 On the highest day, the highest increase in the two months of the Golden Nine Silver Decade was 8%, and the highest decline was 11% for four consecutive days. If there is a futures market, in the futures market can play a very good role in price calming, so that baltic birch plywood suppliers price stability below 4%.
On May 19th, a contract was signed for the purchase and sale of furniture, and delivery was made on December 12th. Fake this batch of contracts need plywood 50,000 sheets, according to the production plan arrangement, processing cycle is about 2 months, plywood must be ready by the end of September, when the spot price 130 yuan / sheet, futures price 1409 contract 120 yuan / sheet, on the use of futures market into the buy hedging, at the price of 120 yuan / sheet, buy into the September contract 100 lots. The margin occupied by the futures market is: 100 lots of the margin of 500 lots / 500 lots / 120 yuan / zhang , 100 / 0 . . . 600,000 yuan, assuming that the plywood rose behind, to the beginning of September, the futures price rose to 140 yuan each, the spot price at 135 yuan each, then you can choose to sell the position in the futures market 140 yuan / sheet all sold, and then to the spot market according to 135 yuan / Zhang bought 100,000 copies
Plywood, of course, can also choose to hold futures contracts to the father cut, extract the spot.
|Time||spot market||futures market|
|May||The price in the spot market is 130 Yuan / sheet, but Is due to inventory or financial reasons did not purchase||At 120 yuan / ton The price buys 100 hands 1409BB contract|
|September||In the spot market at 135 yuan / Zhang purchased 50,000 plywood sheets.||At 140 yuan / sheet Will originally sell 100 hands in September The expired futures are sold in a contract|
|September Buy Spot is higher than May Buy-in stock pays an additional $5/sheet cost.|
|outcome||Futures hedge profit of 500,000|
1. The use of buy hedging can avoid price fluctuations in the production cost segment, sell hedging to avoid the risk of the sales link.
2. Improved efficiency in the use of corporate funds. Since futures trading is a form of guaranteed M-deposit trading, large quantities of goods can be controlled with only a small amount of money
speed up the turnover of funds.
- 3. Conducive to the smooth signing of spot contracts.
- 4. It is beneficial for enterprises to finance and expand production and operation. Participation in hedging can enable enterprises to avoid the risk of product price fluctuations, so as to obtain a stable economic
BB Recent Fundamentals Trend Analysis (July) industry, upstream raw materials,CME Wood . . . rebounded. Malacca import core plate price rose again, is now about 320 U.S. dollars a cubic, ® U.S. dollar to the yuan quote 6.22 or so, the import cost of each core plate in about 94 yuan. Domestic logs, the State Forestry Administration, the Ministry of Finance to stop the two major groups of natural commercial forest logging projects, resulting in domestic ® timber supply tight, in Henan region alone, timber growth of more than 10%. plywood sheet manufacturers shandong region branch wood acquisition average price of about 400 yuan per ton, there is no large-scale seasonal rise. The production and sales of fine woodworking board enterprises in Jiangsu and Zhejiang are better
Ben is in full production.plywood 1409 contract to maintain a long pattern, it is understood that in 137-138 yuan first-line enterprises registered warehouse orders have a small profit, | but the enterprise at this stage more in the wait-and-see, the late period price is still possible sShocks go up.overall, plywood main 1409 contract or position orders to boost, short-term showing a rise. However, long-term due to plywood value , the center has not yet been determined, coupled with the face of the consumer off-season, plywood futures or in Juneand July facean oscillating downward situation.
Thank you very much.