New Zealand timber industry has yet to experience a revival

The state of NZ’s domestic timber market is widely unchanged. Structural markets continue to feel the pinch of low housing consents (which aren’t improving); there’s a slight oversupply of pruned logs in the North Island; sales of posts and poles are yet to show and spring lift; and reduced pulp mill capacity is forcing more pulp logs onto export markets. Everyone is hoping for more cuts to interest rates to help spark more life into the economy and housing market, but any changes will likely be slow to materialise. China has come out of its ...