The construction slump in China is sending shockwaves through New Zealand’s timber trade. China was by far the largest importer of New Zealand logs – taking 92% in the year to June 2023 – but has been “throttling back” since its property market began contracting in 2021, said Rotorua-based forestry consultant Jeff Tombleson. Mega-infrastructure projects such as new cities, ports and railways are nearing completion, and most NZ timber exported to China is used for concrete-casting in multi-storey construction. Since 2019, export log prices have occasionally dipped below NZ$100/m³ (about €56) from an ...