Drax has entered into a partnership with Molpus Woodlands that will provide Drax with an option to purchase sustainably sourced woody biomass to fuel its BECCS operations in the US South.
Wood Markets News
Residential and Nonresidential Construction Employment Continues to Grow in January
Overall employment in the construction sector increased by 11,000 positions in January, NAHB analysis shows.
US Nonfarm Payroll Increases by 353,000 in January 2024; Unemployment Steady at 3.7%
Total US nonfarm payroll employment increased by 353,000 in January, similar to the revised gain of 333,000 in December. The unemployment rate held steady at 3.7%.
Brazilian Exports of Wood-Based Products Increase Year-Over-Year in December
In December, Brazilian exports of wood-based products (except pulp and paper) increased 2.0% year-over-year to US$270.8 million in value, the ITTO reported.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for January
The University of Michigan’s Index of Consumer Sentiment increased 13.3% month-over-month to a reading of 79.0 in January, up from 69.7 in December.
Princeton University Embraces Mass Timber in Six New Campus Projects
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.
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.