Log export statistics update
Wednesday 10 Oct 2018Further to last week's update on log exports to China we have more statistics below from Champion Freight monthly report.
In other market news from this market, total softwood logs stocks in China has risen to about 3.4 million m3. Demand is slightly subdued and daily port off-take has reduced to around 70,000 m3/day. This increase in inventory is not of immediate concern. It is likely that log stocks in China will also increase over the ‘Golden Week’ holiday period in early October. The inventory by region is displayed in the chart below.
Supply from both South America and the US has reduced significantly. New Zealand log exporters however, are unsure of the actual volumes as China’s General Administration of Customs has stopped releasing data. Officially they are ‘updating software’, but they may not want to share this information with the trade war ongoing.
Source: PF Olsen Wood Matters
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