Prices for Southeast Asian panel seemed to be peaking in late November. According to some Japanese traders, some Indonesian and Malaysian suppliers were asking prices below last price levels. Demand was slowing due to the approaching winter season. In northern Japan, building activities were slowing down due to the first snowfalls. In Osaka, the demand for panels remained strong. Plywood manufacturer Seihoku had been shipping softwood panels to the Osaka market, but inadequate supply has forced Osaka dealers to look for substituting materials such as OSB and particleboard. Prices for domestic softwood plywood prices were still more than 30% lower than those for Southeast Asian panels. Seihoku, Japan’s major softwood panel maker has raised the prices ten times since early this year. (Source: ITTOs Tropical Timber Market Report)