EU lawmakers backed a draft bill to ease anti-deforestation due diligence rules as talks continue over legal concerns, with a final vote expected in late November, Euronews reported.
Wood Markets News
Mass Timber Education Center Expands Auburn University’s Kreher Preserve
Auburn University’s Kreher Preserve opened a new 5,000-square-foot mass-timber education center, Architectural Record reported.
Value of Canadian Building Permits Climbs in September
The total value of Canadian building permits rose 4.5% in September to CA$11.7 billion, with residential and nonresidential intentions both increasing.
US Mortgage Credit Availability Index Rises in October
The MBA Mortgage Credit Availability Index rose 2.3% to 106.8 in October, with conventional credit leading the monthly increase.
US Mortgage Applications Increase in the Week Ending November 7
Mortgage loan application volume increased 0.6% on a seasonally adjusted basis in the week ending November 7, MBA reported.
Metsä Fibre Starts Talks on Possible 90-Day Layoffs at Four Finnish Sawmills
Metsä Fibre has begun change negotiations on possible 90-day layoffs affecting about 350 workers at its sawmills in Lappeenranta, Rauma, Renko, and Vilppula.
Metsä Group to Cut 520 Positions in Finland
Metsä Group will cut 520 permanent positions in Finland—up to 440 through redundancies—as part of its EUR 300 million savings program, with further talks ongoing abroad.
Maine Pulp Mill to Take 26-Day Downtime
Woodland Pulp and St. Croix Chipping will idle operations for 26 days, starting November 20, amid weak global pulp prices, Mainebiz reported.
University of Michigan Releases Preliminary Results of Its Consumer Sentiment Index for November
The Consumer Sentiment Index fell 6.2% to 50.3 in November, with declines across major components and higher short-term inflation expectations.
NFIB Small Business Optimism Index Falls in October
The NFIB Small Business Optimism Index fell 0.6 points to 98.2 in October as small firms reported weaker sales and profits but continued hiring challenges.