New Zealand’s timber market highly impacted by China’s lack of demand

In the wake of a significant export market crash just a month ago, the New Zealand timber industry found itself grappling with plummeting prices and a lack of demand from China, its major export partner. However, as predicted by industry experts, the situation is slowly turning around with supply dropping as prices reached the critical $120/m3 threshold. Recent developments have indicated a flicker of hope for the future, but uncertainties still loom. The perceived oversupply situation from New Zealand, a short-term anomaly according to Chinese buyers, was the primary driver behind the drop in demand. However, this ...