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Rapport d'index GGSC-CN (Septembre 2021)

In September 2021, China's PMI index registered 49.6%, a decrease of 0.5 percentage points from the previous month. After operating in the expansion range for 18 consecutive months, China's PMI fell below 50%, indicating that the growth rate of manufacturing industry has been decreased. This month, the timber manufacturing industry is still not prosperous enough and there is no prosperity of "golden September and silver October". The performance of the production side and demand side is flat, and the international orders have picked up slightly. Although the price of raw materials is still rising, the inventory of raw materials has increased.

The GGSC-CN comprehensive index for September registered 48.2% (51.6% for last  September and 55.3% for September 2019), an increase of 5.3 percentage points from the previous month, and was below the critical value of 50% for three months. It shows that the operation of the superior forest products enterprises represented by GGSC-CN  index shrink from last month. See Figure 1 for more details.


Figure 1 GGSC-CN index trend from October 2020 to September  2021

Challenges

Ø The transportation cost of raw materials is too high.

Ø The price of all South American timber has risen, and the timber is in shortage. There is no way to solve it for the time being.

Ø  The price of pine core board and Zingana  rises seriously.

Ø The supply of raw materials is unstable.


Products in short supply

Fiberboard,Okan,Diperyx ,merbau,Zingana,pine core board,Thermo Wood


Commodity of which the price has been increased

Fiberboard, Taun, Eucalyptus, Okan,Diperyx,Dahoma,Oak, Teak

Melamine, formaldehyde, diethylene glycol and other chemical materials.

Colored paper, balance paper, wear-resistant paper, glue and paraffin.


Commodity of which the price has been decreased

Oak, miscellaneous firewood.



As for the GGSC-CN  index, in September 2021,all the five sub-indexes of GGSC-CN  increase.

The production index registered 42.9%, an increase of 2.0 percentage points from the previous month, and below 50% for three months. It shows that the production of superior forest products enterprises represented by GGSC CN is worse than that of last month.

The new order index registered 42.9%, an increase of 2.0 percentage points from the previous month, reflecting the ability of enterprises to obtain orders is worse than last month.Among them, the new export order index reflecting international trade registered 57.1%, an increase of 34.4 percentage points from the previous month,, showing that orders from abroad this month is increased from last month.

The main raw material inventory index registered 57.1%, an increase of 11.7 percentage points  from the previous month. It shows that the raw material inventory of the superior forest products enterprises is increased in September from last month.

The employment index registered 57.1%, an increase of 11.7percentage points  from the previous month. It shows that the employment of the superior forest products enterprises is  much more than that of last month.

The supplier delivery time index was 50.0%, an increase of 4.5 percentage points from the previous month. It indicates that the supply time of raw material suppliers of the superior forest product enterprises is the same as last month.

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