Groupe Lebel has announced that it is building a $40 million (CAD) wood pellet plant in Cacouna, Quebec. The new plant will be located nearby to the company’s headquarters in Rivière-du-Loup. The new pellet plant is set to begin operating in 2023, with a maximum capacity of 100,000 tons of pellets per year.
Wood Markets News
An Increasing Number of Home Sellers Are Dropping Their Prices—Is the Housing Frenzy Starting to Ease?
According to Redfin, the Seattle-based, technology-powered real estate brokerage firm, an increasing number of home-sellers are dropping their prices, yet another sign that the early 2022 housing frenzy is starting to ease as mortgage rates rapidly approach 5%.
WestRock Company to Cease Operations at its Panama City, Florida Mill by June 6, 2022
WestRock Company announced on Thursday (4-7-22) that it intends to permanently cease operations at its Panama City, Florida mill by June 6, 2022. The mill produces containerboard, primarily heavyweight kraft and fluff pulp, and has a combined annual capacity of 645,000 tons.
British Columbia Announces Mass Timber Action Plan, Part of the StrongerBC Economic Plan
On Thursday (4-7-22), Ravi Kahlon, British Columbia’s Minster of Jobs, Economic Recovery, and Innovation, announced B.C.’s Mass Timber Action Plan. The plan comes with $1.2 million (CAD) in funding for four new mass-timber housing and infrastructure projects, as part of the StrongerBC Economic Plan.
Mortgage Credit Availability Declines in March as Lending Standards Tighten
The MCAI declined by -0.7% to a reading of 125.1 in March. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The index was benchmarked to 100 in March 2012.
Canadian Employment Increases and Unemployment Edges Lower in March 2022
Statistics Canada (StatsCan) reported today (4-8-22) that total employment rose by 73,000 (+0.4%) in March, driven by an increase of 93,000 (+0.6%) in full-time work. The unemployment rate fell -0.2 percentage points to 5.3% in March, which is the lowest level since comparable data became available in 1976.
B.C. Builders Reconsider the Use of Mass Timber in Construction as Prices Surge Higher
Construction using mass timber remains a viable option and checks several boxes, including environmental, economic, and human resource factors. However, the unpredictable costs associated with mass timber construction, which includes supply chain and logistics issues, has made it a difficult scheme for many builders to embrace.
Swedish Forest Industry Joins Forces with Forest Machinery Manufacturer to Develop New Sustainable Forest Harvesting Machine
Sustainability is one of many major challenges facing the Swedish forestry industry. In 2019, a group of eight Swedish forestry companies, along with the forest machinery manufacturer Komatsu Forest, started working together to create a machine with a low-impact approach that could increase harvesting productivity and improve the operator’s environment.
U.S. Wood Pellet Exports Decline Month-Over-Month but Rise Year-Over-Year in February 2022
According to data released on Wednesday, April 6, 2022, by United States Department of Agriculture’s (USDA) Foreign Agricultural Service, the U.S. exported 628,659.8 metric tons of wood pellets in February, down when compared to the 655,656.5 metric tons exported in January.
Cross-Laminated Timber and Local Forest Products Featured in Remodeling of Quebec’s Chibougamau-Chapais Airport
The terminal highlights its proximity to the boreal forest by using locally produced wood and high-performance products such as glulam and CLT structural slabs. Timber curtain walls surround the waiting area on three sides. Engineered wood and steel components make up the roof structure.