China’s log import market facing unprecedented weakness

The log import market in China has undergone a significant downturn, deviating from post-Chinese New Year expectations. Daily log consumption remains alarmingly low, well below projected levels. Despite minor improvements by mid-March, the situation is deemed critical due to excessive inventory and sluggish demand, resulting in a downward spiral of prices. Chinese buyers have refrained from placing orders with New Zealand exporters, adopting a wait-and-see approach for further price reductions. This prolonged uncertainty has halted major sales contracts for nearly two weeks, sparking significant concerns within the industry. In New Zealand, port deliveries are ...