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August 23, 2018
Sharp drop in Chinese demand causes big drop in New Zealand’s log export prices
The dramatic drop in August At-Wharf-Gate (AWG) prices for logs delivered to ports around New Zealand is the main talking point in the current market. According to interest.co.nz, the predominant reason for this drop in AWG prices has been the depreciation of the Chinese Yuan Renminbi (CNY) against the US Dollar (USD). In mid-April the Chinese log buyers required ¥940.75 CNY to buy a cubic metre of log at a sale price of 150 USD/JASm3. In mid-July the buyers had to pay ¥1,1003.61 CNY for the ...
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