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June 18, 2020
Lack of demand in China causes sharp fall in NZ’s radiata pine logs prices
In May, due to concerns about the global supply of logs and sawn timber, the CFR price of first-grade New Zealand radiata pine soared to US$128-130/cubic meter at Chinese ports. However, as log prices have risen, some sawmills in China have slowed down or stopped production due to the high log cost and unprofitability. The increase in the price of logs exceeds the increase in the price of finished products. Because many Chinese sawmills will buy logs at lower price levels to avoid the expected price increase, the ...
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