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With a declining local market, and uncertainties in both China and India, the log market is struggling to get out of its recent price retreat. Lower harvest volumes during winter are helping avoid oversupply
Log harvest volumes are being cut back sharply as both export and domestic demand soften. Prices are falling. Even with cyclone-related closure of some local mills, sawn timber inventories are rising and more cutbacks are coming
Export log prices fall as demand in China is not rising as originally expected. Demand in India is uncertain. Domestic demand remains weak as well
Export log prices fall after expected China construction demand didn't rise as anticipated. Indian demand low. Local markets operating well below capacity
Although there has been a spike in at-wharf prices due to log shortages to fill ordered vessels, demand in both China and India is weak, and domestic demand is weakening fast