There is currently an oversupply of logs in China and CFR log prices have fallen about 12% in late March. China log inventory has increased to over 4m m3 with New Zealand radiata pine accounting for about 3.4m m3. Daily off-take is now back to 60k which means there is over two months of inventory in China. While log demand in China was slow to rebuild after the Lunar New Year holiday period, daily usage of 60k is what the average was over last year. However, log exporters from New Zealand don’t seem to understand the ...
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