While it appears that the upward pressure on shipping prices has abated, the China log demand has come off from around 80.000 m3/day down to 50.000 m3/day. This reduction in demand can be attributed to a number of reasons but principally slowing construction sector and Covid related shutdowns in sawmills and construction sites. March in-market Chinese log inventory is in the 4.5 million m3 which is a reduction from February, but this is likely to increase as NZ supply has strengthened following the March price increases – it takes around 5 ...
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