The total log demand in China has reduced since last year’s real estate and construction crisis in China due to Government crackdown on speculation and a tighter lending environment. Log supply has also reduced dramatically. Due to COVID-19 and Russia’s invasion of Ukraine significantly affecting the supply chain, we are yet to see where the balance between supply and demand truly sits.  Significantly reduced log supply into China has maintained log prices, but if Covid forced lockdowns in China continue, then log demand reductions may put pressure on CFR log prices in China.   ...