Strong Japanese Yen hits log prices
Oct 19, 2009. The recent strengthening of the Japanese Yen affected prices of imported logs. At one point last month it looked as if the Yen had stopped its strengthening trend and Japanese buyers started to show signs of buying tropical Logs.
Oct 19, 2009. /Lesprom Network/. The recent strengthening of the Japanese Yen affected prices of imported logs. At one point last month it looked as if the Yen had stopped its strengthening trend and Japanese buyers started to show signs of buying tropical Logs, ITTO reported.
But, with the stronger Yen and FOB prices in US$ falling, buyers have pulled out of the market again. However, any drastic drop in log prices is unlikely as plywood mills have started to increase production and are actively buying. Over the past 2-3 months log consumption by plymills has increased to over 50,000 cubic metres monthly and the forecasts are for this to be maintained.
Sarawak Kapur log prices are firming due to active buying by India. At prices of $240-250 per cubic meter Japanese buyers pull out of purchasing. Overall tropical log prices are reported as steady.