The Canadian Press and CKPGToday are reporting that as of Monday morning, there are currently 420 wildfires burning in nine provinces and two territories within Canada. Of those 420 wildfires, more than 200 continue to burn out of control.
Wood Markets News
Canadian Industrial Product Price Index and Raw Materials Price Index Both Decline in May
The prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), declined 1.0% month-over-month in May. Year-over-year, prices were 6.3% lower. This marks the largest year-over-year decline since October 2009.
Mercer Reopens Former Structurlam Mass Timber Facility in Conway, Arkansas
The Northwest Arkansas Democrat Gazette reported that production at the former Structurlam mass timber plant located in Conway, Arkansas, resumed on Thursday, June 15th.
Available US Homes for Sale Drop 6% Year-Over-Year in the Four-Week Period Ending June 11th
Redfin reported that the total number of US homes for sale dropped 6% year-over-year during the four weeks ending on June 11th. This marks the largest decline in 13 months.
US Building Materials Costs Continued to Decline in May
The prices of goods used in residential construction ex-energy and not seasonally adjusted declined 0.1% in May, following a 0.2% decline in April. Year-to-date, the index has gained 0.3%.
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for June
The Index of Consumer Sentiment rose to a reading of 63.9 in June, up from 59.2 in May. This is a month-over-month increase of 7.9% and up 27.8% year-over-year (50.0 in June 2022).
US National Interagency Fire Center Wildfire Update for the Week Ending June 16th
As of Friday, June 16th, 10 large wildfires have burned 80,000 acres in seven states. During the week, one large new wildfire was reported in North Carolina and another in Oregon. Since January 1st, 21,305 wildfires have burned 644,918 acres.
British Columbia Changes Its Stumpage Updates From Quarterly to Monthly
The Director of the Timber Pricing Branch at the BC Ministry of Forests issued a memorandum on May 31st regarding BC stumpage lags. Starting on June 1, 2023, stumpage updates will occur monthly rather than quarterly.
Stora Enso Announces Closure of Its Näpi Sawmill in Estonia, Plus Other Facilities in Finland, the Netherlands, and Poland
Stora Enso announced that it will close its Sunila pulp production unit in Finland, the De Hoop containerboard site in the Netherlands, one containerboard line at its Ostrołęka site in Poland, and the Näpi sawmill in Estonia. The closures would target a reduction of approximately 600 employees.
Canadian Housing Starts Declined Month-Over-Month in May
The Canadian Mortgage and Housing Corporation reported that the standalone monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada declined 23% in May to 202,494 units, compared to April’s 261,357 units.