On Monday (11-8-21), the U.S. Federal Reserved released its latest Financial Stability Report (FSR), which is released twice a year. In the report, the Fed said, “Stresses in China’s real estate sector could strain the Chinese financial system, with possible spillovers to the United States.” The report pointed to the size of China’s economy and financial system, and global trade links.
News in international markets
Glennon Brothers Completes Purchases of Co Fermanagh-based Balcas
In May, Glennon Brothers announced its plans to purchase Co Fermanagh, Ireland-based Balcas from its owner SHV Energy, subject to approval from competition regulators. Those approvals have now been completed. Balcas was established in Enniskillen, Northern Ireland in 1962 and consists of two divisions, Balcas Timber and Balcas Energy. Combined, the business has a turnover of £108 million a year.
Turkish Küpeliler Endustri AS Places Orders with Siempelkamp for New OSB and Particleboard Plants
Küpeliler Endustri AS — Turkish based business dealing in cement, packaging, and wood-based panel industries — has placed orders with Siempelkamp for a new OSB and particleboard plant. The continuous OSB plant will be the first of its kind to be assembled in Turkey. The second new order was placed by Küpeliler Endustri with its German partner for its particleboard division.
Brazilian Exports of Wood-Based Products Increased 36% Year-Over-Year in September 2021
According to the International Tropical Timber Organization (ITTO), the value of Brazilian exports of wood-based products (excluding pulp and paper) increased 36% year-over-year in September 2021. The value increased from US$283.2 million to US$385.8 million.
Expert says New Zealand’s Log Exports to Peak in 2026 and then Decline by a Third
According to an industry report by the investment house Forsyth Barr, New Zealand’s forestry sector is about to undergo major changes as raw log exports fade due to dwindling supplies and domestic demand increases from the home building industry.
16 Million Seedlings Hand Planted as New South Wales Recovers from the Black Summer Bushfires
More than 16 million pine and hardwood seedling have been hand planted in the New South Wales, Australia’s (NSW) forests this year to help rebuild the forestlands that were destroyed by the devastating Black Summer bushfires of 2019–2020. The trees will grow for approximately 30-years and then be harvested for renewable timber products.
Mercer International Inc. Plans New Sawmill Investment Project in Arneburg, Germany
Mercer International Inc. has announced that it is once again pursuing a new sawmill investment project for the Saxony-Anhalt, Germany region. The original plans were brought to a standstill due to the COVID-19 pandemic. In fact, during the summer Mercer submitted the building application to the responsible planning office of the Stendal district.
Timber Supply in U.K. Finally Catching Up with Demand
According to the U.K.’s Timber Trades Federation’s (TTF) Nick Boulton, TTF’s head of technical and trade, “After a year of record production and nine months of near record structural softwood imports it is highly likely the UK is at a point where there is sufficient volume of wood at UK ports and in the UK timber supply chain to satisfy construction demand.”
Nova Scotia Forestry Innovation Transition Trust Investing $9.8 Million in the Family Forest Network
Established following the closure of the Northern Pulp Mill in New Glasgow, Nova Scotia in January 2020, the Nova Scotia Forestry Innovation Transition Trust recently announced that it is investing $9.8 million (CAD) in the Family Forest Network (FFN) for a five-year pilot project. It will focus on ecologically sensitive forest treatments on 200 small private wood lots in the province.
China’s New Construction Starts Decline for Sixth Consecutive Month in September
For the sixth month in a row, China’s new construction starts declined in September. This is the longest continuous monthly declines since March–August in 2015. According to Reuters calculations based on January-September data released by the National Bureau of Statistics on Monday (10-18-21), new construction starts in September fell -13.54% from a year earlier, the third month of double-digit declines.