Citing its inability to access economically viable fiber in the region, West Fraser Timber announced it will permanently close its Fraser Lake, BC, sawmill after an orderly wind-down.
Wood Markets News
US Homeowner Renovation and Maintenance Expenditures Expected to Weaken Through Q3
The Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University has released its quarterly Leading Indicator of Remodeling Activity (LIRA).
Södra Announces Price Increases for Timber
Södra has announced that it has implemented a timber price increase, effective January 18th. The change applies to normal logs and small sawn assortments of spruce and pine.
Ukraine’s State-Run Forests Auction 1 Million Cubic Meters of Wood and Increase Harvesting in 2024
Ukraine’s state-run enterprise Forests of Ukraine has put up more than 1 million cubic meters of wood for auction, General Director Yuriy Bolokhovets said on Monday, Interfax-Ukraine reported.
Canadian Government Provides Funding to Help Expand Ontario-Based Modular Home Builder Amid Housing Crisis
Ontario’s BECC Modular will receive $2.5 million (CAD) from the Canadian government to upgrade its facility, increase production, and create skilled trade jobs, Ontario Construction News reported.
The Conference Board US Leading Economic Index® Declines Again in December
The Conference Board Leading Economic Index® (LEI) declined 0.1% in December to a reading of 103.1 (2016=100), following a decline of 0.5% in November.
Fannie Mae’s Economic and Strategic Research Group Releases January Commentary on the US Housing Market
According to the ESR Group, the housing market is expected to begin a gradual return to a more normal balance in 2024, following years of substantial movement.
Associated Builders and Contractors Construction Backlog Indicator Inches Higher in December
The Associated Builders and Contractors Construction Backlog Indicator increased to 8.6 months in December, up from 8.5 months in November.
US Existing-Home Sales Decline in December
Total US existing-home sales recorded a 1.0% month-over-month decrease in December to a seasonally adjusted rate of 3.78 million. Year-over-year, sales were down 6.2%.
Construction of 14-Story Mass Timber Tower at University of Toronto Aided by Federal Contribution
Natural Resources Canada announced it was making a contribution of $3.9 million (CAD) to the University of Toronto for the construction of a 14-story mass timber academic tower.