Interfor announced that in response to persistently weak lumber conditions, it will indefinitely curtail operations at its sawmills in Meldrim, Georgia, and Summerville, South Carolina.
Wood Markets News
US Dept. of Commerce Publishes New Duties for Softwood Lumber Products From Canada
The US Department of Commerce has published the new antidumping and countervailing duty rates for imports of Canadian softwood lumber products in the Federal Register.
US Home Prices Increase 0.2% in July, The Smallest Month-Over-Month Increase Since January 2023
The Redfin Home Price Index ticked up 0.2% for the second consecutive month in July, on a seasonally adjusted basis. On a year-over-year basis, home prices rose 6.8%.
Canadian New-Home Prices Edge Higher in July
The national index edged up 0.2% month-over-month in July. Year-over-year, the index increased 0.1% July.
Single-Family Built-For-Rent Construction Posts Year-Over-Year Gain in Q2
There were approximately 23,000 SFBFR starts during Q2, almost 10% higher than 2023Q2, the Census Bureau and NAHB reported. Over the last four quarters, 83,000 such homes began construction.
New Zealand’s Winstone Pulp International Plans to Shut Down Operations Due to High Energy Costs
New Zealand’s Winstone Pulp International said it plans to shut down its entire operation as a result of high wholesale energy prices, RNZ reported.
Canadian Consumer Price Index Increases at Slowest Pace Since March 2021
The CPI increased 2.5% year-over-year in July. The increase was at the slowest pace since March 2021 and was down from a 2.7% gain in June.
Interfor Completes Sale of Its Philomath, OR, Sawmill to Timberlab
On June 27th, Timberlab completed the purchase from Interfor Corporation of its sawmill and 80-acre property in Philomath, Oregon, The Philomath News reported.
Teamsters Canada Delivers Strike Notice to CPKC; CN Delivers Lockout Notice
Teamsters Canada served a 72-hour strike notice to CPKC, saying it will walk out at 12:01 AM on August 22nd, barring a last-minute agreement, FreightWaves reported.
Investment in Canadian Building Construction Rises in June
Investment in building construction grew 2.8% to $21.4 billion (CAD) in June, following a modest increase of 0.8% in May.