Singapore’s Nanyang Business School recently announced that work has finished on Toyo Ito & Associates’ “Gaia” project, according to the Global Construction Review. The zero-energy building is billed as Asia’s largest mass timber building.
Wood Markets News
Saskatchewan Investing in Preservation and Maintenance of Northern Roads That Support the Forest Industry
Saskatchewan announced a $6 million (CAD) investment in the preservation and maintenance of northern roads that support the Saskatchewan forest industry. This one-time investment will fund gravel work and brush clearing on several northern roads.
Chinese Custom Officials Report Imported Logs Declined in Volume and Value in Q1
China’s log imports in Q1 totaled 9.27 million cubic meters, valued at $1,606 billion (USD), which is down 7% in volume and 18% in value when compared to 2022Q1. The average price for imported logs was US $173 (CIF) per cubic meter, down 12% from the same period last year.
WoodWorks Innovation Network Announces New Partnership With the Canadian Wood Council
The WoodWorks Innovation Network (WIN) announced a new partnership with Canadian Wood Council which will expand the number of Canadian projects on WIN, making it a one-stop resource for users seeking to explore mass timber and light-frame projects.
Lack of Lumber Industry Workers in Maine Has the Potential to Cause Lumber Prices to Increase
A recently released study by the University of Maine found that the state’s logging industry supported fewer jobs and generated less economic output and labor income in 2021 than in the five previous years.
State-Level Review of Construction Sector Employment for April
Across the 48 states which reported construction sector data (both residential and non-residential), 24 states reported an increase in April compared to March, while 24 states reported losing construction sector employment during the same period.
Lack of Inventory in Several Metro Areas Keeping Home Prices Elevated
Redfin is reporting that the median US home-sale price fell 2.7% during the four weeks ending May 14th, the smallest decline in over a month. Monthly mortgage payments hit a record high due to still-high prices and elevated mortgage rates.
US National Interagency Fire Center Wildfire Update for the Week Ending May 19th
As of Friday, May 19th, six large wildfires have burned 57,491 acres in four states. One large new wildfire was reported in Massachusetts during the week. Nationally, 16,053 wildfires have burned 477,661 acres.
Conifex Timber Announces Downtime at Its Mackenzie, BC, Sawmill
Conifex Timber Inc. announced Friday that it has decided to take unscheduled downtime for four weeks at its Mackenzie, BC, sawmill starting on June 5th. The company is estimating that approximately 16 million board feet will come out of production.
Northern Ontario’s Ginoogaming First Nation Exploring Construction of Indigenous-Run OSB or LSL Mill
Northern Ontario Business is reporting that the Ginoogaming First Nation wants to put some underutilized hardwood resources in northwestern Ontario to work by making building materials.