Prices for export logs reduced an average of 6 NZD per JASm3 across ports in New Zealand in November. This was caused by a reduction in CFR log prices in China combined with the NZD strengthening against the USD. Log inventory in China remains stable. There is still a lot of uncertainty in China, especially with how the government will continue to manage Covid-19. Domestic demand for sawn timber has reduced, but this is now at a more manageable level for mills. Most NZ mills still expect a slow-down in ...
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