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Sentiment from log buyers in Kandla is turning negative, with reports of four vessels to load from Uruguay, one from Argentina, two from New Zealand and one from Australia. This is a total of eight ships during December for arrival in Kandla in January. Some of the vessels may yet be diverted to China.

Uruguay logs were sold around 128 USD and New Zealand logs around 136 USD CFR Kandla for A grade logs.

Australian logs are quoted at 115 USD levels, with more micro pulp logs at discounted prices, for which Kandla has little appetite.

Lumber prices are dropping rapidly at Gandhidham market. The price of sawn timber from Uruguay logs has dropped INR 20 in the last month to INR 451 per CFT and might drop further due to the negative sentiments of over-supply. The New Delhi national capital Territory (NCT) market is cut off due to the farmers agitation in Delhi borders and poor demand.

As Uruguay is likely to load more ships to China in January, arrivals may reduce in February and sentiments might firm up in March. However, how many logs will arrive from Australia is unknown.

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