Hancock confirmed that, effective October 1st, it began an “indefinite curtailment of production at the company’s Madison Lumber Mill location (New Hampshire),” The Conway Daily Sun reported.
Wood Markets News
European Commission Proposes 12-Month Delay to Deforestation Regulation
The European Commission said it would propose delaying implementation of a law banning the import of commodities linked to deforestation by a year, Reuters reported.
Stora Enso Preparing to Sell Part of Its Forest Assets in Sweden
Stora Enso is preparing to sell approximately 12% of its total forest assets of 1.4 million hectares (3.46 million acres) in Sweden.
US Mortgage Rates Inch Higher in the Week Ending October 3rd
The 30-year fixed-rate mortgage averaged 6.12%, up from last week when it averaged 6.08%, Freddie Mac reported.
US Weekly Initial Jobless Claims Increase in the Week Ending September 28th
The advance figure for seasonally adjusted initial unemployment claims was 225,000, an increase of 6,000 from the previous week.
US Private Sector Job Cuts Ease in September
US-based employers announced 72,821 cuts in September, a 4% decrease from August, Challenger, Gray & Christmas reported.
US Dept. of Commerce Revises New Duties for Softwood Lumber Products From Canada
The US Department of Commerce has revised two antidumping duty rates for imports of certain softwood lumber products from Canada. These rates are effective September 24th.
Doman Building Materials Group Acquires CM Tucker Lumber Companies
BC-based Doman Building Materials Group has acquired South Carolina-based CM Tucker Lumber Company for US$255 million in cash.
Hancock Lumber Signs Letter of Intent to Acquire Tiny Homes of Maine
Hancock Lumber announced it has signed a letter of intent and plans to acquire Tiny Homes of Maine, a manufacturer of tiny homes on wheels.
Mortgage Applications Decline in the Week Ending September 27th
Mortgage loan application volume decreased 1.3% on a seasonally adjusted basis from one week earlier, MBA reported.