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Log prices are increasing in China as log demand remains steady and buyers react to tightening supplies.<\/span><\/p>\n Inventory of New Zealand radiata pine in China has dropped by 0.5m m3\u00a0in the last month. AWG prices increased slightly in July, and larger AGW price increases are expected for August. Suppliers need to be cautious they don\u2019t increase log production too much and oversupply China.<\/p>\n China softwood log inventory has decreased slightly to about 3.7 m3\u00a0with radiata stocks dropping about 0.5m m3\u00a0over the last month to 2.6m m3. Port off-take has remained steady ranging around 70-75k m3\u00a0per day while supply volume has reduced significantly. Log shipments from New Zealand was about 1.4m m3\u00a0<\/sup>which is well down on previous highs of 2m m3\u00a0a month.<\/p>\n In July the CFR price for A grade radiata logs in China increased to 110 USD per JASm3, and the market expects August sales will range around 115-120 USD per JASm3.\u00a0Domestic wholesale log prices in China increased through July as buyers react to tightening supplies.<\/p>\n Many of the larger forest owners in New Zealand have removed the production restrictions they had placed on their crews. This will increase volume to China. Countering this increase, many smaller forest owners are still not willing to start harvesting at the current price level, so as harvest crews complete jobs, their next job is unlikely to start.<\/p>\n The China Caixin Manufacturing PMI unexpectedly fell 0.4 points to 50.5 in June. Manufacturing conditions picked up for the second month in a row, but at slower levels then in May. Any PMI number above 50 signals manufacturing growth.<\/p>","protected":false},"excerpt":{"rendered":" Log prices are increasing in China as log demand remains steady and buyers react to tightening supplies. Inventory of New Zealand radiata pine in China has dropped by 0.5m m3\u00a0in the last month. AWG prices increased slightly in July, and … Continue reading