Log supply into China has increased, with South America and Europe responsible for most of this increase. European supply during Quarter 1 was up over 300% on the last year. Supply from South America will likely reduce as the CFR prices drop in China, but the supply from the damaged spruce forests in Europe will continue as these logs need to be salvaged. The supply line from this salvage harvesting is also not as price sensitive as other supply chains. Eastbound Silk Road rail volumes increased 44% last month, as forwarders capitalised on “heavy” demand with ...
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