Timberlink’s NeXTimber facility in South Australia has pressed its first CLT panel. The commissioning of the CLT line follows the production of the facility’s first GLT beam in August.
Wood Markets News
Mortgage Applications Inched Higher in the Week Ending October 6th
Mortgage loan application volume increased 0.6% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.
Producer Price Index for Final Demand Up Month-Over-Month and Year-Over-Year in September
The Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.5% in September.
US Consumer Credit Outstanding Shrinks Month-Over-Month but Rises Year-Over Year in August
Consumer credit outstanding reached $4.97 trillion (SAAR) in August, a monthly decrease of $15.6 billion, according the Federal Reserve and NAHB.
West Fraser Announces Third Expansion at Its Newberry, SC, Sawmill
West Fraser announced plans to invest $17.7 million in the third expansion in 10 years at its Newberry, South Carolina, sawmill facility, the Longview News-Journal reported.
Södra Announces Price Increases on Spruce and Pine Timber
Södra, citing strong demand for forest raw materials from family forestry, announced that it was raising the price for spruce and pine timber effective immediately.
Mortgage Credit Availability Increases for Second Consecutive Month in September
The Mortgage Bankers Association’s Mortgage Credit Availability Index increased 0.6% to a reading of 97.2 in September.
NFIB Small Business Optimism Index Declines in September, Remaining Below 49-Year Average
The NFIB Small Business Optimism Index (SBOI) declined 0.5 points to a reading of 90.8 in September.
Rayonier Advanced Materials to Temporarily Idle Témiscaming, Quebec, Paperboard Operation and One High-Yield Pulp Line
Rayonier is temporarily curtailing production at its Témiscaming, Quebec, paperboard operation and one of its high-yield pulp lines for 3 weeks, beginning on October 7th.
Fannie Mae’s Home Purchase Sentiment Index® Declines in September as Mortgage Rates Climb
In September, the Fannie Mae Home Purchase Sentiment Index® declined by 2.4 points to a reading of 64.5 as elevated mortgage rates continued to dampen already gloomy consumer housing sentiment.