Investor Presentaiton
million m
2
☐
Demand Drivers: China Growth Has Changed
Global Wood Products Demand Dynamics
A government commitment to housing and continued positive economic
growth should support long-term demand for logs and lumber in China
A deficit of domestic fibre will require China to rely on imports
WFP
Rising wealth / urbanization trends expected to increase demand for lumber
China Log Imports
70
60
60
50
50
40
40
30
20
20
Chinese Lumber Imports
million m
GN NW c
15
10
10
25
20
30
40
35
10
5
0
0
'09A '10A '11A '12A 13A
■Russia
■New Zealand
'14A '15A '16A '17A '18A '19A
■North America
LTM
Mar-20
'09A '10A '11A '12A '13A '14A '15A '16A '17A
'18A '19A LTM
Mar-20
Others
■Russia
■New Zealand
■North America
Others
Source: Forest Economic Advisors (May 2020)
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