China’s log market reopening after Lunar New Year slower than usual

Log demand in China increased very slowly after the Chinese New Year. CFR log prices have held steady, while log inventory increased during the holiday period. Shipping costs have increased through February and the CFR log prices in China won’t be able to increase to compensate. China softwood log inventory increased to 3m m3 over the Lunar New Year Holiday period. Activity has started back very slowly since the holiday period and log use is still below 10k m3 per day heading to the end of February. Even when daily off-take gets back to 50k this still ...