China softwood log inventory has remained stable at about 5.0M. Daily port log offtake has dropped to around 60 - 65K a day. The CFR price for A grade logs still ranges between 145 and 150 USD per m3.The June Caixin China Manufacturing PMI increased to 51.7. (An index above 50 signals market growth). This rate of growth is the quickest since November 2020. Companies were generally upbeat in their forecasts as they anticipated increases in both production and demand. However, they expressed concern over any potential negative impact of future Covid-19 outbreaks and the state of ...
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