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Wood Matters

Log Market - April 2010

High log inventory in China continues to weigh on the market and price has declined for the past 2-3 weeks. Currently the price of A grade is reported at USD135-140/JAS m3 CFR (cost and freight).

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Log and Ocean Freight Market

The strong run in China is taking a breather. Stocks of Radiata, North American and Russian logs are high (more than two months). There are also high inventories of Canadian and Russian lumber.

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PF Olsen Welcomes New Team Member

Recently returned from his "OE" Jacob (Jake) Saathof joined PF Olsen in February taking a role managing road-line harvesting and engineering in the Eastern Bay of Plenty region.

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Clarky's Comment - February 2010

2010 has started well with recovery of house construction starts in NZ and Australia now inevitable. Both countries face a catch-up from low building activity in 2009 plus increased immigration. Meanwhile China's infrastructure boom has kept up demand for export logs.

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The Carbon Market

With the relative certainty of the NZ Emission's Trading Scheme (especially in comparison to the failed Kevin Rudd-backed Carbon Pollution Reduction Scheme (CPRS) legislation), there is growing activity in the market. Nigel Brunel of OM Financial gave a "conservative" estimate that about 1 million tonnes of New Zealand Carbon traded for between NZ$20-NZ$21 per tonne in January.

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The Log Market - February 2010

January and February saw increases in log prices both from export logs and domestic logs (pruned and structural). There are strong indications that export prices will lift again in March. The A-grade price is currently over 100/JAS m³ at main NZ ports and is forecast lift by 10% in March.

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