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May 7, 2019
The price of New Zealand’s logs dropped in April as uncertainty in the Chinese market grows
The price of logs transported to the ports around New Zealand dropped by an average of NZ$7 in April. The reason for the decline in AWG prices is the increase in ocean freight costs and the uncertainty in the Chinese log market. Although the demand for logs has reached a record level, there is an imbalance between logs and domestic wholesale prices. In the absence of a confirmed letter of credit (LCS), there are several log ships from New Zealand to China, and Chinese log buyers are using this opportunity to try to reduce the ...
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