According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey, for the week ending September 30, 2022, the Market Composite Index decreased 14.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index declined 14.0% compared with the previous week.
Wood Markets News
Enviva Holds Ribbon-Cutting Ceremony for the World’s Largest Pellet Plant in Lucedale, Mississippi
Dozens of state and local elected officials joined Maryland-based Enviva Biomass at a ribbon cutting ceremony on Friday in Lucedale, Mississippi, as the world’s largest wood pellet plant reached near full operational capacity level.
Mercer International Completes Acquisition of HIT
Mercer International, a global forest products company with operations in Germany, the US, and Canada, announced on Monday that it has completed its previously announced acquisition of all of the shares of the parent company of HIT.
US Home Prices Decline for Second Consecutive Month, According to Black Knight Data & Analytics
Black Knight Inc. on Monday released its latest Mortgage Monitor Report (MMR) for August. The median home price in August declined 0.98%, a slight improvement from July’s monthly decline of 1.05%.
Job Openings and Labor Turnover Summary Released for August 2022
On Tuesday, the US Bureau of Labor Statistics (BLS) reported the Job Openings and Labor Turnover Summary (JOLTS) for August 2022. The number and rate of job openings decreased to 10.1 million (11.1 million in July) and 6.2%, respectively.
Canadian Consumer Confidence Drops to Near-Record Lows
According to the Bloomberg Nanos Canadian Confidence Index (BBCCI) released on Monday, Canadian consumer confidence has dropped to near-record lows again amid growing concerns about the global economy.
Interfor Announces Agreement to Purchase New Brunswick-Based Chaleur Forest Products
Interfor Corporation announced today that it has reached an agreement with an affiliate of the Kilmer Group to acquire 100% of the equity interests in the entities comprising Chaleur Forest Products. Chaleur owns two sawmills in New Brunswick with a combined annual lumber production of 350 million board feet.
Roseburg Modernizing and Automating Pembroke, Ontario, MDF Facility
Roseburg announced on Friday that the automation and modernization of its Pembroke, Renfrew County, Ontario, MDF plant are continuing. The Pembroke plant produces a wide variety of high quality MDF products, as well as manufacturing MDF mouldings onsite.
Metsä Fiber’s New State-Of-The-Art Sawmill in Rauma, Finland, Is Fully Operational
Metsä Fiber, part of the Metsä Group, announced on Friday that its new state-of-the-art sawmill in Rauma, Finland, is now fully operational as a continuous sawn timber production facility. Its annual capacity is 750,000 cubic meters of pine sawn timber, and the annual use of pine logs sourced in Finland is ~1.5 million cubic meters.
Brazilian Exports of Wood-Based Products Decline Year-Over-Year in August 2022
According to the International Tropical Timber Organization, Brazilian exports of wood-based products (except pulp and paper) in August 2022 declined 2% in value compared to August 2021, falling from US$412.6 million in August 2021 to US$404.6 million in August 2022.