The US Department of Commerce has preliminary determined that hardwood plywood (HWPW) assembled and exported from Vietnam to the US used Chinese core materials. The agency ruled that the HWPW are subject to significant antidumping and countervailing duties that could be as high as 200%.
News in international markets
Australia’s Consumer Confidence Declines for Tenth Consecutive Month in August
Australia’s Westbank Corp., in a survey of 1,200 respondents released on Tuesday, reveals that Australia’s consumer sentiment continues to fall as surging inflation and interest rates increase, coupled with declining home values all weigh on the outlook for householders.
Australia’s Major City Skylines Could Soon Feature 50-Story Mass Timber Skyscrapers
In an effort to decarbonize and revitalize urban construction, Australia’s skylines may soon feature timber skyscrapers up to 50-stories tall. The proposed timber skyscraper buildings are made possible by using a hybrid construction and engineered mass timber around a concrete core.
US Wood Pellet Exports Increase Month-Over-Month and Year-Over-Year in June 2022
According to data released on Thursday by the US Department of Agriculture’s Foreign Agricultural Service, the US exported 832,092.2 metric tons of wood pellets in June, up month-over-month from May’s 740,605.0 metric tons. It is also up from 603,794.9 metric tons in June 2021.
BSW Group Ltd. Announces Proposed Closure of Its Boat of Garten Sawmill Facility at End of September
Citing a downturn in demand across the global timber industry, the unprovoked war in Ukraine, and increasing energy costs, the BSW Group Ltd., with headquarters located in Earlston in the Scottish Borders, announced on Wednesday that it is proposing the closure of its Boat of Garten sawmill.
Brazilian Exports of Wood-Based Products Increase Year-Over-Year in June 2022
According to the International Tropical Timber Organization, in June 2022 Brazilian exports of wood-based products (except pulp and paper) increased 22% in value compared to June 2021, rising from US$395.8 million in June 2021 to US$483.5 million in June 2022.
Tallest International Hotel to Be Built From Cross Laminated Timber and Green Steel in Adelaide, South Australia
The Adelaide building will be constructed using cross laminated timber (CLT) and green steel. When complete the building will be the tallest international hotel in the world. It will reach a height of 31 stories, 100 meters, or just shy of 330 feet in height.
Mercer International to Purchase Outstanding Shares of the Parent Company of HIT
Mercer International Inc. announced on Friday that it had entered into an agreement to acquire all of the outstanding shares of the parent company of Holzindustrie Torgau (“HIT”) for consideration of €270 million, inclusive of forecasted net working capital of approximately €43 million.
Japan’s Lumber and Panel Prices Continue to Soar, Pulling Up Home Prices
The shortage of lumber and plywood in Japan that began last year has been further aggravated by Russia’s invasion of Ukraine. Russia has ceased exporting some of its lumber to Japan in retaliation for sanctions. Lumber and panel prices in Japan have increased 10-20% in just the last 3 months.
Europe is Experiencing a Record Wildfire Year as Climate Conditions Continue to Change
Wildfire conditions in Europe are intensifying, just as Europe experiences an unprecedented heatwave. Fires in parts of France, Spain, and Portugal have already destroyed more land in 2022 than in all of 2021. To date, 517,881 hectares have been destroyed.