The US National Interagency Fire Center reported on Monday that the total number of large wildfires and complexes currently burning in the US has been reduced to 32 from last week’s report of 72. More than 463,512 acres are currently burning across 8 different states.
Wood Markets News
BlueSource Sustainable Forest Co. Buys 29,019 Acres of Forestland in Michigan
Bluesource Sustainable Forest Co. announced today that it has purchased 29,019 acres of forestland in Michigan from The Lyme Timber Company. The land will be part of 90+ North American forest carbon projects covering over 4-million acres.
Potential Agreement Reached to End Seven-Week Weyerhaeuser Strike in Oregon and Washington
Springfield Oregon Television reported on Friday that progress toward ending a strike between Weyerhaeuser workers and the company, in Oregon and Washington State, might be nearing an end after a federal mediator was brought in.
US Commerce Department Corrects Softwood Lumber Subsidies for Non-Selected Canadian Companies
On October 11, 2022, the US Department of Commerce published a notice in the Federal Register, in which the department amended its notice of final results for the 2020 administrative review of the countervailing duty (CVD) order on certain softwood lumber products from Canada.
Paper Excellence Begins Shutting Down Its Crofton, BC, Pulp Mill After Union’s Strike Notice
Paper Excellence has started the controlled and orderly process of shutting down its pulp mill located in Crofton, BC. Contract negotiations reached an impasse, and the company’s request for mediation has been rejected by the union.
Floating Office Building Located on Rotterdam’s Maas River Utilizes CLT
Rotterdam is now the home of a three-story building that has been constructed on a set of 15 ‘concrete barges’ that allow it to float on Rotterdam’s Rijnhaven, a former industrial harbor located on the Maas River.
China Home Prices Decline for 13th Consecutive Month in September
According to China’s National Bureau of Statistics, as reported in Bloomberg News, home prices in China sank for the 13th consecutive month in September. New-home prices in 70 cites, excluding state-subsidized housing, dropped 0.28% from August.
Interfor Announces Q4 Lumber Production Curtailments Across All Regions
Interfor Corporation announced that it plans to reduce its lumber production output in Q4 by approximately 200 million board feet, or 17% of quarterly capacity, due to current economic conditions and market uncertainty, which have led to reduced lumber demand.
EU Timber Regulations Scheduled to be Replaced
Research from iov42, the London-based company that has created a computer platform for traceability in the timber supply chain, has found that timber importers across Austria, Belgium, France, Italy, and the UK are troublingly unprepared for the upcoming change in EU regulations.
Repair and Remodeling Activity Predicted to Slow Substantially in 2023
According to the Harvard University Joint Center of Housing Studies’ latest Leading Indicator of Remodeling Activity (LIRA), which was released on Thursday, projected year-over-year growth in repair and remodeling activity will decline from 16.1% in 2022 to 6.5% by 2023Q3.