On November 2, 2021, the British Columbia government announced that it would defer logging on 2.6 million hectares of old growth forests. At the same time the B.C. government gave the First Nations 30 days to indicate whether they agreed or disagreed with deferrals. The Huu-ay-aht First Nation has now provided an answer for the government: It disagrees with the deferrals, and it will make its own decisions on how it manages its own treaty lands.
Wood Markets News
Dongwha Enterprises Celebrates Opening of New Laminated Flooring and Medium-Density Fiberboard Facility in Vietnam
Dongwha Enterprises, Korea’s top wood materials manufacturer, held an opening ceremony for its Dongwha, Vietnam unit’s new laminated flooring and medium-density fiberboard (MDF) facility located in Thai Nguyen (near Hanoi) on December 2, 2021. The factory is located on a 500,000 square meter site and was built with a total investment of 180 billion won ($152.6 million).
The Ascent Tower, an All-Mass Timber Structure, is Rising Over Milwaukee’s Downtown
Tim Gokhman is the managing director of New Land Enterprises and a driving force behind using one of the oldest building materials to reshape Milwaukee, Wisconsin’s skyline. Gokhman’s latest project, a 25-story building named Ascent, is being built at the corners of Van Buren and Kilbourn in downtown Milwaukee.
Housing Affordability in September Slips to Its Lowest Level Since 2008, Yet Homes Remain Undervalued in Most Markets
First American Financial Corporation, the Santa Ana, California-based comprehensive title insurance protection and professional settlement services provider, has released it Real House Price Index (RHPI) for September 2021. According to the RHPI, real house prices increased 1.7% from August to September and 17.5% year-over-year.
Russian Government Announces Increases in Export Duties for Lumber Starting on January 2, 2022
The Russian government has announced an increase in export duties for lumber with a moisture content of greater than 22% and a thickness and width of more than 10 cm. From January 2 through December 31, 2022, the export duty for softwood lumber will be set at 200 euros per cubic meter.
Canadian National Railway Hopes to Reopen its Rail Network in Southern B.C. Over the Weekend
The Canadian National Railway Co. (CN) on Friday afternoon (12-3-21) said it was aiming to reopen its rail network in southern British Columbia over this weekend. This followed another round of heavy rain and strong winds, which prompted a second shutdown of service. CN said on Friday that engineers and construction crews continue to work on the Vancouver-Kamloops corridor.
After Temporary Curtailment, LP’s Peace Valley OSB Mill Back to Operating at Full Capacity
During the forestry industry downturn in 2019, Louisiana Pacific (LP) made the difficult decision to temporarily curtail production at its Peace Valley OSB mill located in Fort St. John, B.C. LP’s goal was to keep the mill in “ready state,” and LP kept a small team of 20 employees at the mill.
USDA to Issue Final Pandemic Payments to Timber Harvesters and Haulers
The U.S. Department of Agriculture (USDA) announced on Thursday (12-2-21) it will begin issuing final pandemic assistance payments to timber harvesters and timber hauling businesses through the Pandemic Assistance for Timber Harvesters and Haulers (PATHH) program starting next week. In total, $200 million will be provided to loggers and log trucking businesses.
Egger Wood Products Announces $50 Million Investment in Their Davidson County, NC Facility
Egger Wood Products, an Austrian-based manufacturer of wood-based materials, announced on Thursday (12-2-21) that it intends to invest $50 million in additional equipment for its Davidson County, North Carolina facility. Eggers has 20 plants worldwide, but the plant located in Linwood, NC is its first North American facility.
Number of Homes for Sale Hits All-Time Low, While Median Home Prices Hit Another Record High
Redfin, the Seattle-based, technology-powered real estate brokerage, is reporting that the number of homes for sale hit an all-time low in the week ending November 28, 2021. According to Redfin, during that same period, sustained demand pushed the median home price to another record high.