In a period when price corrections are expected, export log markets to China appear with a degree of trepidation. Chinese in-market softwood inventories are at the lowest level since late 2016 (1.2Mm3 less than this time last year), zero supply from Australia and a relatively high exchange rate. As Chinese Lunar Celebrations started, we have seen daily sales drop to around 60Km3 from 85Km3 in early January. It is expected that this usage will drop to minuscule volumes for February before returning at reasonable levels in March following the almost month-long holiday. However ...
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