Aluminum and timber, New Zealand's two most valuable exports to Japan at more than USD 1 billion could be even more in demand after the devastating earthquake and tsunami. But Japanese businesses already have large stakes in both commodities here because they are major long term foreign investors.
Trade officials were quietly positive but with the caution that New Zealand did not want to be seen to be profiting from the catastrophe. But when Japan does begin its recovery, New Zealand exports could play a big part, providing crucial materials.
Ms Andrea Carson at New Zealand Aluminum Smelters at Bluff was seeking information from managers at the plant. She said that we'll definitely be looking at it.
Aluminum is used in Japan's giant car manufacturing business and in its building sector. New Zealand timber plays a big part in its construction sector as well as paper and wood fiber. The Japanese hold direct ownership in both the crucial aluminum and timber businesses operating from here having bought in some years ago. Sumitomo Chemical owns 20.6% of New Zealand Aluminum Smelters.
Most of the plant's alumina comes from the Yarwun and Queensland Alumina refineries at Gladstone and about 90% of the aluminum made at Tiwai Pt is exported to buyers in Japan elsewhere in Asia, Europe and the United States.
Mr Wayne Coffey ED of Timber Industry Federation said that timber exports could well rise but not immediately. There will be a lot of rebuilding so a lot of building products will be needed. Interest in wood increased after the September Christchurch quake but the long lead time involved in building meant no immediate benefits.
He said that the use of timber was not expected to rise for 12 to 18 months because plans need to be submitted, people need to think about how things will be done.
(Sourced from www.nzherald.co.nz)
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