According to reporting by Reuters, the European Commission on Thursday said it had closed an antitrust investigation in the wood pulp sector, as it had found insufficient evidence to pursue the probe.
Wood Markets News
Canadian Investment in Building Construction Increased in April
Statistics Canada reported that investment in building construction increased by 0.4% to $20.3 billion (CAD) in April. Investment in single-family homes decreased 2.1% to $7.7 billion, marking its lowest level since November 2021.
30-Year Fixed-Rate Mortgage Falls, but 15-Year Rate Rises in the Week Ending June 15th
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending June 15th. The 30-year fixed-rate mortgage averaged 6.69%, down from last week when it averaged 6.71%.
Canadian Home Sales Rose 5.1% in May, Building on April’s Double-Digit Increase
The Canadian Real Estate Association reported that home sales posted over the Canadian MLS® Systems were up 5.1% nationally between April and May, building on the double-digit jump in April and smaller gains recorded in February and March.
US Weekly Jobless Claims Unchanged in the Week Ending June 10th
The advance figure for seasonally adjusted initial unemployment claims was 262,000 during the week ending on Saturday, June 10th. This is unchanged from the previous week’s revised level of 262,000. The 4-week moving average was 246,750—an increase of 9,250 from the previous week.
BC’s Skeena Sawmills and Bioenergy Plant Reopen as They Wait Word on a Provincial Grant
The Terrace Standard reported Wednesday that the Skeena Bioenergy plant reopened on Monday, June 5th, following a resumption of operations at Skeena Sawmills next door on Wednesday, May 31st.
Metsä Group to Construct New Kerto® LVL Mill in Äänekoski, Finland
Metsä Group announced that it has decided to invest approximately EUR 300 million to construct a new Kerto® LVL mill in Äänekoski, Finland, to produce beams and panel products used in the construction industry.
Maine’s Knickerbocker Group to Build Modular Homes to Help State With Housing Crisis
According to News Center Maine, Maine’s Knickerbocker Group, best known for custom building multi-million-dollar coastal homes, has begun a new venture—building small modular homes, called prefab pods. The company aims to help Maine meet its ongoing housing crisis.
Producer Price Index for Final Demand Declined in May; Up 1.1% Year-Over-Year
The Producer Price Index (PPI) for final demand, seasonally adjusted, declined 0.3% in May, after increasing 0.2% April and after declining 0.4% March. On an unadjusted basis, the index for final demand advanced 1.1% year-over-year.
Mortgage Applications Increase in the Week Ending June 9th
According to the Mortgage Bankers Association’s Weekly Mortgage Application Survey for the week ending June 9th, the Market Composite Index—a measure of mortgage loan application volume—rose 7.2% on a seasonally adjusted basis from one week earlier.