Domestic,Average Quarterly Prices - NZ$ delivered,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, ,Mar-92,Jun-92,Sep-92,Dec-92,Mar-93,Jun-93,Sep-93,Dec-93,Mar-94,Jun-94,Sep-94,Dec-94,Mar-95,Jun-95,Sep-95,Dec-95,Mar-96,Jun-96,Sep-96,Dec-96,Mar-97,Jun-97,Sep-97,Dec-97,Mar-98,Jun-98,Sep-98,Dec-98,Mar-99,Jun-99,Sep-99,Dec-99,Mar-00,Jun-00,Sep-00,Dec-00,Mar-01,Jun-01,Sep-01,Dec-01,Mar-02,Jun-02,Sep-02,Dec-02,Mar-03,Jun-03,Sep-03,Dec-03,Mar-04,Jun-04,Sep-04,Dec-04,Mar-05,Jun-05,Sep-05,Dec-05,Mar-06,Jun-06,Sep-06,Dec-06,Mar-07,Jun-07,Sep-07,Dec-07,Mar-08,Jun-08,Sep-08 P1,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Low,,,,,,,,,,220,200,180,180,180,160,160,165,150,148,143,146,148,150,145,145,165,147,147,134,145,146,146,147,150,155,150,151,162,150,164,153,158,165,171,163,148,145,140,128,138,146,139,130,135,139,130,123,124,133,128,120,123,123,125,118,118,120 Hi,,,,,,,,,,340,300,240,240,220,230,210,175,200,210,190,180,195,195,195,190,203,183,183,180,180,175,175,175,175,190,175,175,185,175,190,190,180,190,190,190,190,165,170,160,169,177,171,145,147,143,137,140,154,147,147,137,141,141,141,141,132,130 Average,,,,,,,,,,280,250,210,210,200,195,185,170,175,179,167,163,172,173,170,168,184,165,165,157,163,161,161,161,163,173,163,163,174,163,177,172,169,178,181,177,169,155,155,144,154,162,155,138,141,141,134,132,139,140,138,129,132,132,133,130,125,125 12-quarter average,,,,,,,,,,,,,,,,,,,,202,199,190,183,180,176,175,172,171,170,169,167,167,166,166,166,165,165,164,164,165,166,166,168,169,171,171,170,169,168,166,166,164,161,159,156,152,148,146,144,143,142,140,137,136,135,134,132 P2,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Low,75,,,89,130,110,110,110,110,125,150,130,115,130,115,110,130,115,111,114,113,115,117,118,103,158,117,115,112,108,96,98,102,107,111,105,103,101,94,106,99,104,105,101,101,109,101,103,93,96,99,93,93,99,98,94,90,97,99,93,93,98,92,97,92,92,93 Hi,94,,,160,200,200,200,180,200,200,180,180,180,180,165,135,150,125,162,148,148,128,165,165,165,171,163,183,130,145,160,160,150,150,170,160,165,143,165,160,160,160,160,152,160,152,144,136,140,155,150,140,130,142,108,128,129,111,130,115,107,111,111,111,107,105,105 Average,,,,,,,,,,163,165,155,148,155,140,123,140,120,137,131,131,122,141,142,134,165,140,149,121,127,128,129,126,129,141,133,134,122,130,133,130,132,133,127,131,131,123,120,117,126,125,117,112,121,103,111,110,104,115,104,100,105,102,104,100,99,99 12-quarter average,,,,,,,,,,,,,,,152,152,150,147,145,144,142,139,137,136,134,135,135,137,136,136,136,136,135,136,136,135,135,131,131,129,130,130,131,131,131,131,130,129,127,127,127,126,124,123,121,119,118,115,115,113,112,110,108,107,106,105,104 S1,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Low,65,,,60,,,,,,,110,110,110,110,110,90,105,110,90,90,90,99,100,100,92,87,83,79,75,90,84,82,105,95,95,100,90,83,83,77,86,82,90,83,91,82,73,79,72,79,80,80,78,78,77,80,80,81,82,82,86,91,85,67,82,81,80 Hi,70,,,89,,,,,,,150,140,140,140,120,115,125,120,99,108,110,110,111,115,105,95,101,117,117,101,93,107,114,119,109,111,107,99,103,101,90,101,103,100,100,105,98,90,92,90,95,93,99,93,93,93,92,91,93,86,88,98,95,87,87,87,87 Average,,,,,,,,,,#DIV/0!,130,125,125,125,115,103,115,115,95,99,100,105,106,108,99,91,92,98,96,96,89,95,110,107,102,106,99,91,93,89,88,92,97,92,96,94,86,85,82,85,88,87,89,86,85,87,86,86,88,84,87,95,90,77,85,84,84 12-quarter average,,,,,,,,,,,,,,,,,,,,,,113,111,109,107,104,102,102,100,99,98,98,98,99,98,98,98,98,98,98,97,97,97,97,96,95,93,92,90,90,89,89,89,88,88,87,86,86,86,86,86,87,87,86,86,86,86 S2,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Low,45,,,58,,,,,,,90,90,90,90,70,80,95,102,70,87,91,85,76,97,72,80,80,71,71,78,78,82,85,80,80,83,80,70,70,69,87,85,73,87,70,84,51,73,66,64,70,69,76,60,74,73,63,80,75,82,86,90,85,82,57,61,57 Hi,58,,,85,,,,,,,90,90,90,90,95,115,110,103,88,97,100,98,96,100,99,90,95,100,97,90,89,95,96,107,107,103,102,100,93,92,94,95,87,96,96,94,90,84,83,85,80,90,95,90,88,88,89,92,93,90,94,94,94,89,88,85,85 Average,,,,,,,,,,#DIV/0!,90,90,90,90,83,98,103,103,79,92,96,92,86,99,86,85,88,86,84,84,84,89,91,94,94,93,91,85,82,81,91,90,80,92,83,89,71,79,75,75,75,80,86,75,81,81,76,86,84,86,90,92,90,86,73,73,71 12-quarter average,,,,,,,,,,,,,,,,,,,,,,92,92,92,92,92,92,91,89,88,88,88,88,88,88,88,88,88,88,87,88,88,88,88,88,87,85,84,83,82,81,81,81,80,80,79,78,78,79,80,81,83,84,84,83,83,82 L1&L2,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Low,45,,,45,,,,,,,70,70,70,75,65,70,70,60,56,54,65,50,54,55,59,72,57,65,50,52,51,50,53,54,60,58,54,52,55,62,61,66,61,60,63,50,45,48,52,50,50,48,47,51,51,50,51,58,58,58,63,73,59,60,57,57,60 Hi,60,,,67,,,,,,,85,85,96,75,90,95,105,95,85,81,87,75,64,64,63,88,84,75,72,86,82,85,83,85,92,85,85,70,60,80,75,82,78,78,75,71,80,72,74,74,72,67,65,65,65,69,67,75,77,87,93,96,80,79,70,76,69 Average,,,,,,,,,,#DIV/0!,78,78,83,75,78,83,88,78,71,68,76,63,59,60,61,80,71,70,61,69,67,68,68,70,76,72,70,61,58,71,68,74,70,69,69,61,63,60,63,62,61,58,56,58,58,60,59,67,68,73,78,85,70,70,64,67,65 12-quarter average,,,,,,,,,,,,,,,,,,,,,,76,75,73,71,72,71,70,68,67,67,67,66,67,68,69,70,68,67,67,68,68,69,69,69,68,67,66,65,66,66,65,64,62,61,61,60,60,61,62,63,65,66,67,67,68,68 S3&L3,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Low,,,,,,,,,,,65,65,65,70,80,65,70,65,58,62,61,60,60,63,50,50,45,56,56,45,43,54,58,56,56,52,57,52,n/a,50,50,50,57,n/a,n/a,50,47,48,49,50,49,48,47,51,51,50,48,57,53,58,63,68,64,56,57,61,57 Hi,,,,,,,,,,,90,90,90,70,80,70,85,90,66,76,85,70,85,87,83,83,60,79,80,62,65,68,78,71,86,65,69,80,n/a,78,80,79,79,n/a,n/a,78,68,75,73,70,68,74,73,76,77,74,73,78,73,73,76,82,76,71,69,65,65 Average,,,,,,,,,,#DIV/0!,78,78,78,70,80,68,78,78,62,69,73,65,73,75,67,67,53,68,68,54,54,61,68,64,71,59,63,66,#DIV/0!,64,65,65,68,n/a,n/a,64,58,62,61,60,59,61,60,64,64,62,61,68,63,66,70,75,70,64,63,63,61 12-quarter average,,,,,,,,,,,,,,,,,,,,,,73,72,72,71,71,69,69,68,66,65,65,64,64,64,63,62,62,63,63,63,64,65,65,65,65,63,64,64,63,62,62,62,62,61,61,61,61,62,62,63,64,65,65,66,66,65 Pulp,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Low,,,,,,,,,,,45,45,45,45,30,40,30,45,35,41,40,38,38,35,37,31,30,30,27,28,28,24,32,32,32,34,35,36,32,35,35,35,39,38,30,34,33,37,35,37,33,36,36,35,37,38,38,38,39,40,41,40,41,41,40,40,39 Hi,,,,,,,,,,,50,50,50,50,60,65,65,55,55,58,58,45,45,45,43,55,38,40,39,39,39,40,47,44,45,63,63,57,42,51,51,48,50,49,44,38,41,43,43,48,39,41,47,49,49,50,51,52,51,52,56,55,53,52,51,55,56 Average,,,,,,,,,,#DIV/0!,48,48,48,48,45,53,48,50,45,50,49,42,42,40,40,43,34,35,33,34,34,32,40,38,39,49,49,47,37,43,43,42,45,44,37,36,37,40,39,43,36,39,42,42,43,44,45,45,45,46,49,48,47,47,46,48,48 12-quarter average,,,,,,,,,,,,,,,,,,,,,,48,47,46,46,45,44,43,42,40,39,38,37,37,37,37,38,38,39,39,40,41,42,43,43,42,42,42,41,40,40,40,40,40,40,40,40,41,42,42,43,43,44,45,45,46,46 Average over 12 quarters:,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, P1,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,202,199,190,183,180,176,175,172,171,170,169,167,167,166,166,166,165,165,164,164,165,166,166,168,169,171,171,170,169,168,166,166,164,161,159,156,152,148,146,144,143,142,140,137,136,135,134,132 P2,0,0,0,0,0,0,0,0,0,0,0,0,0,0,152,152,150,147,145,144,142,139,137,136,134,135,135,137,136,136,136,136,135,136,136,135,135,131,131,129,130,130,131,131,131,131,130,129,127,127,127,126,124,123,121,119,118,115,115,113,112,110,108,107,106,105,104 S1,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,113,111,109,107,104,102,102,100,99,98,98,98,99,98,98,98,98,98,98,97,97,97,97,96,95,93,92,90,90,89,89,89,88,88,87,86,86,86,86,86,87,87,86,86,86,86 S2,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,92,92,92,92,92,92,91,89,88,88,88,88,88,88,88,88,88,88,87,88,88,88,88,88,87,85,84,83,82,81,81,81,80,80,79,78,78,79,80,81,83,84,84,83,83,82 L1&L2,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,76,75,73,71,72,71,70,68,67,67,67,66,67,68,69,70,68,67,67,68,68,69,69,69,68,67,66,65,66,66,65,64,62,61,61,60,60,61,62,63,65,66,67,67,68,68 S3&L3,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,73,72,72,71,71,69,69,68,66,65,65,64,64,64,63,62,62,63,63,63,64,65,65,65,65,63,64,64,63,62,62,62,62,61,61,61,61,62,62,63,64,65,65,66,66,65 Pulp,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,48,47,46,46,45,44,43,42,40,39,38,37,37,37,37,38,38,39,39,40,41,42,43,43,42,42,42,41,40,40,40,40,40,40,40,40,41,42,42,43,43,44,45,45,46,46 All grades average per quarter,,,,82,165,155,155,145,155,221,120,112,112,109,105,101,106,103,95,96,98,94,97,99,93,102,92,96,89,89,88,90,95,95,99,96,95,92,94,94,94,95,96,100,99,92,84,86,83,86,86,85,83,84,82,82,81,85,86,85,86,90,86,83,80,80,79 4-quarter average,,,,,,,,,153,180,144,130,124,113,109,107,105,104,101,100,98,96,96,97,96,98,96,96,94,91,90,89,91,92,95,96,96,96,94,94,93,94,94,96,97,96,93,90,86,85,85,85,85,84,83,83,82,83,84,84,85,87,87,86,85,82,80