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April 11, 2019
Uncertainty in China log market lowers prices for New Zealand’s logs exports
At Wharf Gate (AWG) prices for logs delivered to ports around New Zealand decreased on average 7 NZD per JASm3 in April. This decrease in AWG prices is due to a combination of increased shipping costs and uncertainty in the China log market. While the demand for logs is at record levels, there is an imbalance between log and domestic wholesale prices. There are log vessels enroute to China from New Zealand without confirmed Letters of Credit (LCs) and Chinese log buyers are using this opportunity to try and negotiate log prices down.   ...
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