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Expect West African Log Prices To Move Up
|West African Log Prices
Only one or two changes in price have been reported during July but traders expect that West African log prices will move up following the recent increases in South East Asian Log prices. The ban on Indonesian log exports, together with the PRC and Malaysia agreeing to stop log imports from Indonesia should push prices higher during next months. Log supplies in West africa are reportedly tight but European buyers have been absent during the summer vacation period.
African log sales to China have risen 10% in volume terms over the past two months and are expected to go much higher in response to the now banned Indonesian supply.
In Cameroon log supply is now very tightly controlled and sawmills without a concession
are closing because they are unable to purchase sufficient logs to keep mills in
production. It is reported several sawmills are up for sale.
Iroko has seen a substantial price rise but demand is now slack and Netherlands and Belgium. The high level of stocks of Sapele scantlings have put a brake on demand for new production.
Gabon Okoume sawnwood is becoming more established in Europe and prices have once again shown a modest rise. Sawmills in the region generally report buyers are taking up all current production for immediate shipment.
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