Japan: Meranti Log Prices
firming
Tropical log prices(FOB) continue to firm and the log market in Japan is reported as
improving slightly with some users accepting slightly higher prices. On the whole, plywood
mills have resisted higher log cost because of the stagnant domestic plywood market but
log importers are determined to raise log prices as the yen continues to weaken. The log
market turned firmer in mid January and Meranti regular prices reached yen 5,000 but this
is not high enough to cover the import cost so the importers have been trying to push
prices up to yen 5,300-5,400 in February. Late
January market prices for Sarawak Meranti Regular were yen 5,000-5,100 per koku CIF, yen
100-200 up from December. Meranti Small is about yen 4,200 and Super Small is yen
3,800-3,900, also yen 200 or so higher.
Prices for PNG Taun and Calophyllum are unchanged at between yen
4,700-4,800 per koku CIF. Newly introduced plantation species kamerere and campnosperma
have attracted some interest from plywood mills due to their low prices but business in
these timbers is still developing.
Late January FOB prices for Sarawak Meranti Regular were firm at
between US$115-117 per cubic metre, Meranti Small is at about US$90 and Super Small was up
US$2-4 at US$78-80. |
