Interfor will indefinitely curtail operations at its Nairn Centre and Gogama sawmills in Ontario, citing weak markets and US trade pressures, Northern Ontario Business reported.
Wood Markets News
State-Level Construction Employment Data for February
The construction industry lost a net 13,000 jobs in February, the BLS and NAHB reported.
US Mortgage Rates Decline in the Week Ending April 23
The 30-year fixed-rate mortgage averaged 6.23%, down from 6.30% the previous week, Freddie Mac reported.
BC Wildfire Service Reports Five Fires Burning Out of Control
Five of 14 active wildfires in BC are burning out of control, with several newly sparked fires pushing activity higher across multiple regions, BCWS says.
Ghamoud Starts Production at Algeria’s First Continuous Particleboard Plant
Ghamoud has launched Algeria’s first continuous particleboard plant, with 100,000 cubic meters of annual capacity.
US Weekly Initial Jobless Claims Increase in the Week Ending April 18
The advance figure for seasonally adjusted initial unemployment claims was 214,000, an increase of 6,000 from the previous week.
Mass Timber Construction Moves Into Mainstream in Canada
Mass timber construction is gaining ground in Canada, driven by code changes, rising capacity, and demand, with 140 projects underway in 2024.
Baby Boomers Lead US Home Buying and Selling; First-Time Buyer Share Hits Record Low
Baby Boomers lead US home buying and selling activity, while first-time buyers fell to a record-low 21% share, NAR reported.
BTG Pactual TIG Completes $370 Million First Close for Latin America Timberland Strategy
BTG Pactual TIG raised $370 million in a first close for its newest core Latin America timberland strategy, targeting $1.5 billion for investments across Chile, Uruguay, and Brazil over five years.
US Mortgage Applications Rise in the Week Ending April 17
Mortgage loan application volume increased 7.9% on a seasonally adjusted basis from one week earlier, MBA reported.