News in international markets


The Fed Says China’s Real Estate Issues Could Impact the U.S.

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.

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.

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.”