Logging off: timber export prices prune back further

Logjam: There's a 12-day wait time for berths at Port of Tauranga. (Image: BusinessDesk)

Thu, 02 Nov 2023

At wharf gate prices for export grade logs fell an average of $4-$5 per Japanese Agricultural Standard cubic metre (JASm3) month-on-month as Chinese demand failed to materialise during October.Total Chinese softwood inventory is also at a low 2.7 million cubic metres, well under what is considered a price 'trigger' of 4m cubic metres, although prices for A-grade logs have remained in a range of US$110-117 (NZ$189-201) per JASm3.It comes as the China Caixin Manufacturing index sits at 50.6 for September. Like the New Zealand PMI, any num...

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