Commonwealth Plywood Company Ltd. announced that it is reopening its sawmill located in Rapides des Joachims, Pontiac Country, Quebec. Commonwealth has invested over $ 1 million (CAD) to get the sawmill back into operation.
Wood Markets News
Hurricane Fiona’s Insured Damages in Atlantic Canada an Estimated $660 Million
The Catastrophe Indices and Quantification Inc. (IBoC) says that Hurricane Fiona caused an estimated $660 million (CAD) in insured damages. The IBoC says the storm was the costliest extreme weather event ever recorded in Atlantic Canada.
80M Project Gives DC Its First Commercial Office Building Using Mass Timber
The 80 M Street SE project, located in Washington, DC’s Navy Yard neighborhood, is the city’s first commercial office building to feature a vertical extension constructed using mass timber. It is also the first mass timber structure in DC to exceed 85 feet in height.
North Carolina Trees a Potential Source for Green Aviation Fuel
A new partnership announced last month between Envia, which turns trees and wood products into pellets that are burnt for energy, and Alder Fuels, a privately owned greed crude producer, could see a “green” aviation fuel derived from North Carolina’s trees.
Canadian Consumer Price Index Continued to Decelerate in September
Statistics Canada reported today that the Canadian Consumer Price Index (CPI) rose 6.9% in September on a year-over-year basis, reduced slightly from its 7.0% gain in August. On a monthly basis, the CPI rose 0.1%.
Mortgage Applications Decline Again in the Week Ending October 14th
According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey, for the week ending October 14, 2022, the Market Composite Index (a measure of mortgage loan application volume) decreased 4.5% on a seasonally adjusted basis from one week earlier.
Canfor Pulp Products Announces Temporary Curtailment at Its Intercontinental Pulp Mill
Canfor Pulp Products Inc. announced on Monday a temporary curtailment of its Intercontinental Pulp Mill facility due to the lack of available economic fiber in British Columbia. Regular operations are expected to resume on Monday, October 24th.
Builder Sentiment Sinks Lower for the Tenth Consecutive Month in October
On Tuesday, the National Association of Home Builders/Wells Fargo Housing Market Index reported that builder sentiment in the market for newly built single-family homes tumbled 8-points lower in October to a reading of 38—half the level it was just six months ago. This marks the tenth consecutive decline.
Wildfire Burning East of Vancouver, Washington, Doubles in Size; Evacuations Ordered
The Nakia Creek Fire, which started on Sunday, October 9th, is expanding east of Vancouver, Washington. The complex doubled in size on Sunday, October 16th, which prompted authorities to order evacuations. About 400 acres have burned thus far.
Sierra Forest Products Completes Acquisition of Weber Plywood & Lumber Company
Sierra Forest Products Inc., part of the UCS Forest Group of Companies, announced on Monday that it has completed the acquisition of Weber Plywood & Lumber Company, located in Tustin, California.