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GGSC-CN Index Report (Apr 2020)

In April 2020, the GGSC-CN comprehensive index for April registered 60.4% (51.9% for last April and 64.7% for April 2018), a decrease of 10.4 percentage points from the previous month, continued to run in the expansion zone for 3 consecutive months. It shows that the operation of GGSC leading forest products enterprises gets better from last month. See Figure 1 for more details.

Figure 1 Trends of GGSC-CN index and Chinese national PMI index from May 2019 to April 2020

As for the GGSC-CN index, in April 2020, four out of five sub-indexes of GGSC CN index declined and the other one rose.

The production index registered 78.6%, a decrease of 14.3percentage points from the previous month, continued to run in the expansion zone for 2 consecutive months. It shows that the production of superior forest products enterprises represented by GGSC CN increased in April from last month.

The new order index registered 71.4%, a drop of 14.3 percentage points from the previous month,reflecting the ability to obtain orders is better than last month. Among them, the new export order index reflecting international trade registered 14.3%, a decrease of 28.6 percentage points from the previous month, and continued to run in the shrink zone for 2 consecutive months , showing that orders from abroad this month decreased from last month.

The main raw material inventory index registered 28.6%, a decrease of 7.1 percentage points from the previous month. It shows that the raw material inventory of the superior forest products enterprises decreased from the previous month.

The employment index registered 50.0%, a decrease of 14.3 percentage points from the previous month. It shows that the employment of the superior forest products enterprises was almost the same as the previous month.

The supplier delivery time index was 42.9%, an increase of 7.1 percentage points from the previous month. It indicates that the supply time of raw material suppliers of the superior forest product enterprises was longer than last month.

Challenges and suggestions

Ø  The import of floor blank became less, its supply is tight. The buyer needs to pay a deposit.

Ø The epidemic situation in Northeast China is relatively serious. Oak log and ash log are in short supply.

Ø Logistics distribution is not smooth.

Products in short supply

Juglans Nigra, Hickory, Oak

Commodity of which the price has been increased

Phenol ,Oak, Manchurian Ash, Veneer,Carbamide,Methanol,Melamine, Paraffin Wax, Water Repellent

Commodity of which the price has been decreased

Fir blank, Melamine, Eucalyptus Wood, Pine Wood



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