Tauranga, New Zealand: Pacific Forest Products (PFP) reports that China daily offtake is still around 50,000-55,000 cubic metres per day and that the market remains well-balanced with total log inventory now at 3.2-3.5 million cubic metres and stable.
This inventory has increased from three million cubic metres over the last few weeks due to many workers in northern China returning to harvest family crops in the countryside.
There is also the rainy season in Southern China slowing down plywood production. Exporters do not expect much market movement in the short term.
One comment was “I’m certainly not lying awake at night thinking about the China market”. Everyone in the industry hopes this stability continues for a long time yet.