SnapSTAT - Commodities headed in right direction
Friday 3 Nov 2023
Introduction: The forestry index lifted 0.3% m/m in September, but the log
market remains relatively subdued. End user
demand from China for logs is back at normal levels for this time of the season
and the volumes of logs
stockpiled on wharves has reduced. This is a positive sign for the market, but
returns are constrained by higher
shipping costs. Demand from local mills remains weaker than normal as housing
construction has slowed.
![](https://fridayoffcuts.com/pix/SnapStat_3_November.png)
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Source:ANZ Commodity Price Index
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