Asian Market Settles as Forecast Slowdown Fails to Take Hold | WWF

Asian Market Settles as Forecast Slowdown Fails to Take Hold



Posted on 02 February 2008

From Timber Trade Journal: After a slight blip late last year, the market has stabilised and shippers are resisting pressure from UK and European buyers to reduce prices

Summary:

  • A light flurry of log prices late last year has settled as the yen has stabilised against the US dollar. 
  • The weather in Sarawak has been poor for logging and Chinese New Year is also likely to reduce activity. 
  • Higher freight rates, fuel costs and currency surcharges are not encouraging European buyers to close new business. 
  • Shippers are resisting UK and European pressure to reduce lumber prices. 
  • Strong demand from China and Vietnam has kept some log prices firm. 

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