波罗的海干散货指数涨0.43%，至1633点，为连续第八个交易日上涨。 ...

波罗的海干散货指数涨9.2%，至1626点，为连续第七个交易日上涨。 ...

Core Viewpoint - The Baltic Dry Index (BDI) has reached a two-month high, indicating a gradual recovery in bulk commodity trade activities [1] Group 1: BDI Performance - The BDI has increased by 4.13%, reaching 1489 points, marking the highest level since April 4 [1] - The rise in BDI is primarily driven by the strong performance of the Capesize vessel rate index, which is crucial for transporting large quantities of iron ore and coal [1] Group 2: Market Outlook - Industry experts anticipate that as the Chinese economy continues to recover, the demand for bulk commodity imports is expected to further increase, potentially sustaining the upward trend of the BDI [1]

智通财经6月3日电，波罗的海干散货指数涨0.56%，至1430点。 ...

Global Timber Trade Situation - Over the past decade, global timber trade has experienced significant fluctuations influenced by economic growth and international trade policies. From 1990 to 2007, there was a substantial increase in global timber trade volume, with China's demand for logs rising sharply. However, following the financial crisis, global timber trade volume briefly declined from 271 million cubic meters in 2007 to 199 million cubic meters in 2009. Subsequently, the trade volume grew rapidly, reaching a peak of 306 million cubic meters in 2018, but has been declining since then due to factors such as trade policies, weather, and the COVID-19 pandemic [1][3][4]. China's Timber Trade Situation - China is the largest importer of softwood timber globally, with minimal exports of logs. In terms of import composition, logs account for approximately 50%, alongside sawn timber, wood fiberboard, and pulp. In 2024, China's log import volume is projected to be around 36.1 million cubic meters, with an import value of approximately 59.396 billion yuan. The primary source of softwood logs imported by China is radiata pine from New Zealand, followed by spruce and fir from Europe [4][8][9]. Major Timber Import Sources - China primarily imports logs from Russia, New Zealand, and the United States. However, following the outbreak of the Russia-Ukraine conflict in 2022, Russia has banned the export of its logs. The import volume from New Zealand remains significant and stable, warranting close attention [8][9]. Major Trade Ports - Shandong province is a key area for log consumption, boasting a comprehensive processing industry and significant price influence. It serves as the main trading and delivery hub for logs in China. Other notable ports include Zhangjiagang in Jiangsu, which is the largest tropical timber import port, and Caofeidian in Hebei, designated by the Canadian government as a designated receiving port for outbound timber. Qingdao port in Shandong has established a rail-sea intermodal transport route for logs, enhancing the logistics network for timber imports [9][10]. Major Transportation Methods - The import of softwood logs into China primarily utilizes waterway and land transportation. Waterway transport is dominated by ocean shipping, with logs arriving from New Zealand, North America, and Southeast Asia. After reaching the port, wholesalers procure the logs and transport them via rail or road to secondary wholesale or retail markets. Land transport relies on rail and road networks, with logs from Russia and other European regions mainly entering through rail, offering stable transport times and lower logistics costs [10][11]. Shipping Costs and Trends - The local pricing of logs in New Zealand typically uses the AWG price, which includes procurement, transport, and packaging costs before reaching the port, excluding shipping costs. When exporting, New Zealand adopts the CFR pricing model, where shipping costs significantly impact the overall price. Recent trends indicate that shipping costs have been rising, with shipping fees accounting for approximately 30% of the log import price over the past two years [22][23]. Shipping Indices - The Baltic Dry Index (BDI) and the Baltic Handy Size Index (BHSI) are commonly used reference indicators for tracking global log shipping costs. BDI reflects the overall dry bulk shipping price, while BHSI specifically tracks the rates for handy-sized bulk carriers, which are primarily used for transporting logs. The choice of index is crucial for accurately assessing shipping costs related to log transportation [25][26].

国泰君安期货·黑色与建材 原木周度报告 国泰君安期货研究所·张广硕 期货从业资格号：Z0020198 日期：2025年5月25日 Guotai Junan Futures all rights reserved, please do not reprint Special report on Guotai Junan Futures 2 综述 1 综述 ◆ 现货价格走势：对于主流交割品3.9米30+辐射松，山东市场报价755元/方，较上周下降15元/房，江苏市场报价 775元/方，较上周下降5元/方，目前两地区价差为-20。山东地区3.9米40+辐射松报价830元/方，较上周持平； 山东地区5.9米30+辐射松报价765元/方，较上周下降15元/房。欧洲材云杉、冷杉在江苏市场上的交易量较少，仍 处于缺货状态。（千里目数据） ◆ 供应：截止到5月18日，5月从新西兰出发的船只总共有25条，其中有21条去往中国大陆，4条去往中国台湾、韩 国减载。5月出发的船只中，预计5月到港的约为14条，6月到港的有11条。预计5月到货152万方。 (千里目数据） Special report on Guotai Junan F ...

智通财经5月22日电，波罗的海干散货指数涨0.3%，至1341点。 ...

智通财经5月20日电，波罗的海干散货指数跌0.52%，至1340点。 ...

波罗的海干散货指数跌1.29%，至1299点。 ...

智通财经5月8日电，波罗的海干散货指数跌4.22%，至1316点。 ...