Market Herald logo


Be the first with the news that moves the market

Midway Limited has secured a higher plantation hardwood price from Japanese customers for the rest of 2019.

As a result of price negotiations, Japanese customers have agreed to increase by $1.75 per tonne to $182.25 commencing immediately.

With Japanese customers accounting for approximately 30 per cent of exports this increase will be extremely beneficial towards Midway.

Midway is Australia’s largest high-quality wood fiber processor and exporter with aims to become Asia’s leading supplier of the wood fiber.

This increase with Japan provides an equilibrium with Chinese customers. Chinese customers agreed to pay $182 per tonne for the second half of 2019.

Midway Managing Director Tony Price is pleased for this increase in revenue.

“The price increase with Japanese customers underpins a strong second half of the 2019 financial year reflected in consensus forecasts and provides a solid start for the first half of the 2020 financial year,” he said.

Please find the announcement here

MWY by the numbers
More From The Market Herald
The Market Herald Video

" Cleanaway Waste Management (ASX:CWY) to raise $400m to acquire Global Renewables

Cleanaway Waste Management (ASX:CWY) has launched $400 million capital raise program to fund its BluePrint 2030…
The Market Herald Video

" BBX Minerals (ASX:BBX) encounters further mineralisation at Tabocal, Brazil

BBX Minerals (ASX:BBX) has received assays from hole TED-002 at the Tabocal prospect within the Três…
The Market Herald Video

" Petratherm (ASX:PTR) wins bid for Muckanippie REE project, SA

Petratherm (ASX:PTR) has been successful through a competitive bid process to be the preferred application for…
The Market Herald Video

" Arcadia Minerals (ASX:AM7) advances testwork at Bitterwasser, Namibia

Arcadia Minerals (ASX:AM7) has announced "positive" cyclone and leach testwork results from the Bitterwasser project in…