Jan 27, 2016. /Lesprom Network/. West Africa log and sawnwood prices remained unchanged through late December and into the first half of January. Producers in the region expect little, if any, change in price structures during the 1Q of the year, ITTO reports.

Chinese New Year is early this year beginning 8 February and, while it is unlikely that trade levels can drop any lower, there will be the usual absence of buyers in the market.

Analysts are of the opinion that, with Chinese New Year just around the corner, buyers for the Chinese market have no incentive to resume purchases ahead of the celebrations and long vacation.

Perhaps the best prospects for a resumption of buying for the Chinese market will be in the second quarter but so much depends on importers and merchants in China being able to move their current high stocks. However, there is little sign of growth in China’s real estate sector which weakened significantly in late 2015.

Producers are hoping that the modest but steady expansion of demand in Europe will continue in 2016 as this has underpinned price stability, even through the volumes being purchased are not large in terms of EU total hardwood consumption.