New Zealand: Log export recovery expected, but hard to predict
Log harvest volumes in New Zealand are being cut back sharply as both export and domestic demand soften. Prices are falling. Even with cyclone-related closure of some local mills, sawn timber inventories are rising and more cutbacks are coming. Chinese log buyers continue to struggle with credit issues and log demand in New Zealand is reducing as construction activity declines due to high inflation and interest costs. AWG (At Wharf Gate) prices dropped 5-10 NZD per JASm3 with the larger drops at South Island ports. Some NZ mills and forest owners have already pre ...
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