Drax and Pathway have reached a deal that could see Drax supply over 1 million tons of pellets each year to Pathway’s proposed SAF plant on the US Gulf Coast.
Wood Markets News
Sveaskog Sells Its 50% Share in Setra Group to Mellanskog
Sveaskog and Mellanskog announced that they have signed a letter of intent regarding the sale of Sveaskog’s holding in Setra Group to Mellanskog.
Machinery Failure Forces Greenply Industries to Pause Production at Its Gujarat, India, MDF Plant
Greenply Industries announced a temporary shutdown of manufacturing operations at the MDF plant of its wholly owned subsidiary, Greenply Specialty Panels Private, CNBC-TV18 reported.
Higher Lumber Prices Push Up Building Materials Costs for New Homes in November
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—were unchanged in November, the BLS and NAHB reported.
Lower Mortgage Rates Drive Increased Market Activity Among Potential Buyers
Requests for home tours, mortgage applications, and pending sales are rising as mortgage rates decline from their four-month high in November, Redfin reported.
Canadian Building Permits Decline 3.1% in October
The total value of building permits issued in October decreased 3.1% to C$12.6 billion. Despite the decline, the value remained the fourth highest in the series.
USDA Awards $335 Million for Private Forestland Management and Conservation
The USDA announced awards of nearly $335 million to strengthen financial incentives for private forest landowners to manage their forests sustainably and to permanently conserve private forests in partnership with states.
US Producer Price Index for Final Demand Rises 0.4% in November
The Producer Price Index for final demand, seasonally adjusted, increased 0.4% in November. Final demand prices had increased 0.3% in October.
ABC Construction Backlog Indicator Unchanged in November
The ABC Construction Backlog Indicator (CBI) held steady at a reading of 8.4 months in November. The reading is down 0.1 months from November 2023.
US Mortgage Rates Decline for Third Consecutive Week
The 30-year fixed-rate mortgage averaged 6.60%, down from last week when it averaged 6.69%, Freddie Mac reported.