China’s log imports in Q1 totaled 9.27 million cubic meters, valued at $1,606 billion (USD), which is down 7% in volume and 18% in value when compared to 2022Q1. The average price for imported logs was US $173 (CIF) per cubic meter, down 12% from the same period last year.
Wood Markets News
WoodWorks Innovation Network Announces New Partnership With the Canadian Wood Council
The WoodWorks Innovation Network (WIN) announced a new partnership with Canadian Wood Council which will expand the number of Canadian projects on WIN, making it a one-stop resource for users seeking to explore mass timber and light-frame projects.
Lack of Lumber Industry Workers in Maine Has the Potential to Cause Lumber Prices to Increase
A recently released study by the University of Maine found that the state’s logging industry supported fewer jobs and generated less economic output and labor income in 2021 than in the five previous years.
State-Level Review of Construction Sector Employment for April
Across the 48 states which reported construction sector data (both residential and non-residential), 24 states reported an increase in April compared to March, while 24 states reported losing construction sector employment during the same period.
Lack of Inventory in Several Metro Areas Keeping Home Prices Elevated
Redfin is reporting that the median US home-sale price fell 2.7% during the four weeks ending May 14th, the smallest decline in over a month. Monthly mortgage payments hit a record high due to still-high prices and elevated mortgage rates.
US National Interagency Fire Center Wildfire Update for the Week Ending May 19th
As of Friday, May 19th, six large wildfires have burned 57,491 acres in four states. One large new wildfire was reported in Massachusetts during the week. Nationally, 16,053 wildfires have burned 477,661 acres.
Conifex Timber Announces Downtime at Its Mackenzie, BC, Sawmill
Conifex Timber Inc. announced Friday that it has decided to take unscheduled downtime for four weeks at its Mackenzie, BC, sawmill starting on June 5th. The company is estimating that approximately 16 million board feet will come out of production.
Northern Ontario’s Ginoogaming First Nation Exploring Construction of Indigenous-Run OSB or LSL Mill
Northern Ontario Business is reporting that the Ginoogaming First Nation wants to put some underutilized hardwood resources in northwestern Ontario to work by making building materials.
Mortgage Applications for New Home Purchases Declined Month-Over-Month in April
The Mortgage Bankers Association (MBA) is reporting that mortgage applications for new home purchases decreased 11% month-over-month but were up 4.1% year-over-year.
Townhouse Construction Slowed in 2023Q1
Sata from the US Census Bureau’s Starts and Completions by Purpose and Design for Q1, with additional analysis provided by the National Association of Home Builders, shows single-family attached starts totaled 29,000 during Q1.