According to analysts, Malaysian shippers are becomign more active in taking on the competition from Okoume through discounts.
Reports suggest that there is a slight excess of stocks which has a downward influence on domestic sales prices. Local traders expect this situation to ease in the coming weeks, particularly as some Malaysian (and others) export containers are being shut-out on many vessels.
Overall, the timber market is busy and Pine sales are robust though there are reports that sales of Gangnails for trusses construction have fallen, which indicate that the ‘informal’ market is absorbing more timber and this is borne out by the low stocks at most Pine mills. In additon, American hardwoods are also selling well as there is firm demand in the shop-fitting and furniture sectors.