Exports of logs from New Zealand to Mainland China hit a record 1.930 million cubic meters (m3) in March 2021, according to latest data available to Wood Market Edge online subscribers. The record came as New Zealand’s total log exports fell just short of the all-time monthly record, and at the same time as the average export price continued its strong growth.
Because Australian logs are currently excluded from the Chinese market, it is little wonder that the hot Chinese economy has increased its supplies from elsewhere, and no surprise that prices have risen so consistently.
The data, aggregated by the team at IndustryEdge shows the average price of log exports lifted to USDFob122.71/m3, just USD1.08/m3 below the all-time record set in January 2018.
IndustryEdge notes the excellent ongoing work of PF Olsen, whose monthly log market report shows the delivered price of logs in late April reached a record USDCFR178/JASm3. With freight prices also at historic highs, it is little wonder the delivered price has pushed out a little further than the free-on-board price.
Further analysis is available on the Wood Market Edge online platform.
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