Export log prices from New Zealand appear to have reached the bottom of the current cycle by mid-May, supported by improving activity in China and India. Meanwhile, domestic log prices remain steady, with signs of renewed interest from local sawmills—an encouraging development after a long period of subdued demand. In response to falling export prices earlier this year, many New Zealand forest owners reduced harvesting rather than laying off crews. This has eased pressure on port volumes and helped bring supply back in line with demand in key Asian markets. Across China’s eastern seaboard, daily ...