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Log Prices in the UK
The continuing decline in the dollar exchange rate is
causing hardwood importers and manufacturers a dilemma as W. African species
are being priced out of the market. African timber stocks held by EU importers
are now too expensive, which has created an opportunity for US hardwood
suppliers. This opportunity is enhanced as delivery times from SE Asia are
considered too long for many importers, making forward contracts risky. The
market prices quoted are not yet fully reflecting the current uncertainties as
there is always someone ready to undercut the going rates for a quick sale. It is reported that forward orders from the building sector
have slipped a little but this is only a temporary setback say analysts.
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Source:ITTO |
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