China's imported softwood log market remained broadly stable in late June, with lower inventories and reduced New Zealand shipments supporting prices, although weak construction activity continues to weigh on demand for both logs and softwood lumber.<\/p>\n
CFR prices for A-grade New Zealand radiata pine logs are currently estimated at USD 121\u2013127\/JASm\u00b3, with pricing differences reflecting variations in grade mix, customer relationships, contract structures and exporters' sales strategies.<\/p>\n
Softwood log inventories at Chinese ports have declined slightly to an estimated 2.2\u20132.4 million m\u00b3, while daily offtake has remained steady at around 55,000 m\u00b3. The stable consumption rate is notable given that construction activity typically slows during China's summer months.<\/p>\n
The decline in inventories has been driven largely by lower log arrivals from New Zealand, which supplies around 75% of China's imported softwood logs. Reduced shipments have helped rebalance the market after inventories accumulated earlier in the year.<\/p>\n
Some buyers expect New Zealand harvest volumes to recover later in 2026 if lower fuel costs improve harvesting economics. For now, winter conditions continue to constrain production, although larger forest owners could increase harvesting as operating conditions improve.<\/p>\n
China's Caixin Manufacturing PMI eased from 52.2 in May to 51.8 in June, remaining above the 50-point expansion threshold for a sixth consecutive month. Manufacturing output continues to expand, although export demand has softened and production costs remain elevated.<\/p>\n
Furniture demand remains uneven. Hardwood furniture exports, particularly to Australia, have performed better than softwood products, supported by lower Australian harvest levels. Exports to Europe, however, continue to be affected by weak residential construction and subdued consumer spending.<\/p>","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":99210,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[5204],"tags":[],"class_list":["post-99209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news"],"acf":[],"yoast_head":"\n