Metsä Group said change negotiations concerning its Merikarvia sawmill have ended, and it has decided to close down operations by the end of June.
Wood Markets News
Mortgage Applications Decline in the Week Ending February 23rd, as Interest Rates Climb Above 7%
Mortgage loan application volume decreased 5.6% on a seasonally adjusted basis from one week earlier, the MBA reported.
US Housing Market Gained $2.4 Trillion in Value Year-Over-Year in December
As of December 2023, the US housing market gained $2.4 trillion in value over the last year, bringing its total value to $47.5 trillion, Redfin reported.
US Real GDP Increases at an Annual Rate of 3.2% in 2023Q4, BEA Reports in Its “Second” Estimate
US real GDP increased at an annual rate of 3.2% in Q4, following an increase of 4.9% in Q3.
Western Forest Products Completes Kiln Upgrade at Its Saltair Sawmill in BC; Announces Additional $35 Million Investment in BC
Western Forest Products has completed the installation of a continuous dry kiln at its Saltair Sawmill in BC and has plans for two additional kilns at other facilities in BC.
Ingka Investments Expands Forestland Portfolio in Finland and Baltics
Ingka Investments has acquired 23,883 hectares in Europe—of which 19,276 hectares are forestland—in Finland, Estonia, and Latvia.
Large West Virginia Hardwood Sawmill Operator Closes All Facilities Without Warning
West Virigina’s Allegheny Wood Products closed all of its facilities on February 23rd without warning, WCHS-TV reported.
FHFA House Price Index Increases Month-Over-Month and Year-Over-Year in December
The Federal Housing Finance Agency House Price Index® increased 0.1% month-over-month in December (seasonally adjusted).
S&P CoreLogic Case-Shiller US National Home Price Index Rises 5.5% Year-Over-Year in December
The S&P CoreLogic Case-Shiller US National Home Price NSA Index reported an annual gain of 5.5% in December, up from 5.1% in November.
The Conference Board’s US Consumer Confidence Index Moves Lower in February
The Conference Board Consumer Confidence Index® declined to a reading of 106.7 in February, down from January’s revised reading of 110.9.