Group 1: Report Overview - Report Name: Log Futures Daily Report [1] - Date: May 20, 2025 [1] Group 2: Investment Rating - No investment rating provided in the report Group 3: Core View - After May, log demand will enter the traditional off - season, with expected reduced shipments in the coming weeks. New Zealand's shipments will seasonally decrease, and the current FOB price continues to decline, maintaining a weak - balanced fundamental situation. Supply arrivals are expected to significantly decrease this week, and the market is expected to fluctuate [3][4] Group 4: Futures and Spot Prices - Futures prices: Log 2507 remained at 783 yuan/m³, Log 2509 decreased by 0.5 yuan to 794 yuan/m³ (-0.06%), and Log 2511 decreased by 0.5 yuan to 797 yuan/m³ (-0.06%) [2] - Spot prices: Some radiation pine prices in Rizhao Port decreased, with the 3.9A small, medium, and large radiation pine down - 1.37%, - 1.32%, and - 3.49% respectively. Some prices in Taicang Port and Rizhao Port's spruce 11.8 remained unchanged [2] - FOB prices: The CFR price of 4 - meter medium A radiation pine and 11.8 - meter spruce remained unchanged [2] - Import costs: The RMB - US dollar exchange rate increased slightly, and the import theoretical cost increased by 2.06 yuan to 781.01 yuan [2] Group 5: Supply - Monthly supply: Port shipments in April were 200.3 million m³, a 24.17% increase from March. The number of ships in the rock port increased by 13.79% [2] - Weekly supply: This week's arrivals are expected to significantly decrease, and the inventory decreased by 20,000 m³ to 341 million m³ as of May 16 [3] Group 6: Demand - Weekly demand: The average daily log出库 volume decreased by 0.01 million m³ to 6.14 million m³ as of May 16 [3] Group 7: Inventory - Weekly inventory: As of May 16, the total inventory of national coniferous logs was 341 million m³, a 0.58% decrease from the previous period [3]

原木期货日报 证监许可 【2011】1292号 2025年5月16日 曹剑兰 Z00J9556 | 期货和现货价格 | | | | | | | --- | --- | --- | --- | --- | --- | | 品种 | 5月15日 | 5 14日 | 张跌 | 涨跌幅 | 单位 | | 原木2507 | 788.0 | 794.0 | -6.0 | -0.76% | | | 原木2509 | 798.0 | 804.5 | -6.5 | -0.81% | | | 原木2511 | 801.5 | 809.5 | -8.0 | -0.99% | | | 7-9价差 | -10.0 | -10.5 | 0.5 | | | | 9-11价差 | -3.5 | -5.0 | 1.5 | | | | 7-11价差 | -13.5 | -15.5 | 2.0 | | | | 07合约基差 | -28.0 | -34.0 | 6.0 | | | | 09合约基差 | -38.0 | -44.5 | 6.5 | | | | 11合约基差 | -41.5 | -49.5 | 8.0 | | 元/立方米 | | 日照港 ...

Group 1: Report Industry Investment Rating - No information provided Group 2: Core View of the Report - The demand side is constrained by the traditional off - season in May. The demand for real - estate building materials is lower than expected, and furniture exports are affected by the China - US tariff war, so the later demand may be further compressed. In May, overseas shipments are expected to remain high, short - term arrival pressure is reduced, and the inventory destocking is mediocre. With the current spot price continuously decreasing, the weak balance pattern of the fundamentals persists, and the futures market is expected to be mainly oscillating weakly [3][4] Group 3: Summary by Relevant Catalogs Futures and Spot Prices - Futures prices of different contracts (log2507, log2509, log2511) increased slightly on February 8, with increases of 0.58%, 0.57%, and 0.44% respectively. The spreads between some contracts changed, and the basis of each contract decreased. Spot prices of various types of logs in ports remained unchanged. The exchange rate of RMB against the US dollar and import theoretical costs changed slightly, and the import theoretical cost increased by 1.36 yuan [2] Supply - Monthly supply: Port throughput increased by 39.0 (24.17%) to 200.3 million cubic meters from March 31 to April 30, and the number of departing ships from New Zealand to China, Japan, and South Korea increased by 8 (13.79%) to 66 [2] Inventory - Main port inventory (weekly): As of April 25, the inventory in China was 351.00 million cubic meters, with no change week - on - week. The inventory in Shandong decreased by 4.8 to 198.8 million cubic meters, and the inventory in Jiangsu increased by 3.6 to 116.38 million cubic meters [2][3] Demand - Daily average outbound volume (weekly): As of April 25, the daily average outbound volume in China was 6.86 million cubic meters, an increase of 0.35 million cubic meters (5%) compared to April 18. The daily average outbound volume in Shandong increased by 0.56 million cubic meters (17%), and the daily average outbound volume in Jiangsu decreased by 0.21 million cubic meters (- 8%) [3]

Core Points - Guangxi Fenglin Wood Industry Group Co., Ltd. will hold a performance briefing for the fiscal year 2024 and the first quarter of 2025 on May 19, 2025, from 14:00 to 15:00 [1][3] - The briefing will be conducted in an online interactive format via the Shanghai Stock Exchange Roadshow Center [2][4] - Investors can submit questions for the briefing from May 12 to May 16, 2025, through the Roadshow Center or via the company's email [2][3] Meeting Details - The meeting is scheduled for May 19, 2025, from 14:00 to 15:00 [3][4] - It will take place at the Shanghai Stock Exchange Roadshow Center [2][4] - Key participants include the CEO Wang Gaofeng, CFO Li Honggang, and independent director Hu Qi [4]

利益相关方应于公告发布之日起三周内进行应诉登记。 据中国贸易救济信息网消息，2025年5月7日，韩国贸易委员会发布第2025-10号公告（案件调查号23- 2025-5）称，应韩国企业주식회사 유니드비티플러스（参考英文名UNIDBT Plus Co., Ltd.）申请，对原 产于泰国厚度不超过5毫米的纤维板（Fibreboard of wood or other ligneous materials）启动反倾销调查。 本案倾销调查期为2024年1月1日～2024年12月31日，损害调查期为2021年1月1日～2024年12月31日。涉 案产品的韩国税号为4411.12.1000、4411.12.9000、4411.92.1000、4411.92.9010、4411.92.9090、 4411.93.1000、4411.93.9010、4411.93.9090、4411.94.1000、4411.94.9000。 ...