New Zealand logs are piling up on Chinese wharves as cheap sawn timber arrives by train from Russia and Scandinavia and puts the skids under prices. In three months “A” grade log prices have gone from US$138/140 a tonne to US$110 a tonne and could sink to US$100-US$105/tonne. NZ Forest Owners Association president Peter Weir said about 5 million tonnes of logs — mostly from New Zealand — are sitting unsold on wharves in China. “A comfortable level is about 1 million tonnes ...
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