Princeton University is in the midst of its largest campus expansion since the early 1960’s, with six of 16 new projects using mass timber, The Princeton University Alumni Weekly reported.
Wood Markets News
US Dept. of Commerce Releases Preliminary Determinations in Fifth Administrative Review of Duties on Certain Softwood Lumber Products From Canada
The US Department of Commerce has released its preliminary determinations for the fifth administrative review (AR5) of duties on certain softwood lumber products from Canada.
US Monthly Construction Spending Climbs Month-Over-Month and Year-Over-Year in December
Total construction spending during December was estimated at SAAR of $2,096.0 billion, 0.9% above the revised November estimate of $2,078.3 billion.
Stora Enso Announces Program to Increase Profitability and Competitiveness
Stora Enso plans to initiate a new profit improvement program targeting annualized EUR 80 million improvement of the operational EBIT.
Södra Wood Announces Changes to Its Industrial Structure to Further Strengthen Competitiveness
Södra Wood said it would consolidate its sawn timber operations to achieve economies of scale by relocating production volumes to its larger production units.
Canadian Residential and Nonresidential Building Construction Costs Increase in 2023Q4
Residential building construction costs increased 0.9% in Q4, following a 1.2% increase in Q3. Nonresidential costs increased 0.7% in Q4, following a 1.3% increase in Q3.
Fixed-Rate Mortgages Tick Down in the week Ending February 1st
The 30-year fixed-rate mortgage averaged 6.63%, down from last week when it averaged 6.69%, Freddie Mac reported.
Private Sector Job Cuts Surge Month-Over-Month in January
According to Challenger, Gray & Christmas, US-based employers announced 82,307 job cuts in January, a 136% increase from 34,817 cuts announced in December.
US Weekly Jobless Claims Increase in the Week Ending January 27th
The advance figure for seasonally adjusted initial unemployment claims was 224,000, an increase of 9,000 from the previous week’s revised level of 215,000.
Tolko’s Lavington, BC, Sawmill Resumes Production Following Energy Transformer Issue
After an energy transformer issue eight weeks ago interrupted its power, Tolko’s Lavington, BC, sawmill returned to full production on Monday, The Vernon Morning Star reported.