Wood Markets News


One Sky Forest Products and Paper Excellence Sign Co-Location Agreement

In September, One Sky Forest Products announced its intention to build and operate a new oriented strandboard (OSB) operation at an existing Prince Albert, Saskatchewan mill site. One Sky Forest Products took a step forward on Tuesday (11-30-21) in bringing that operation to fruition with the announcement that it has signed an agreement with Paper Excellence, the company behind the restart of the local pulp mill.

Chinese City of Manzhouli Temporarily Halts Rail Imports After a Sudden Spike in COVID-19 Cases

Starting on Wednesday (12-1-21), authorities said its railway port will “suspend the import of non-containerized goods including timber, coal, mineral powder, chemical fertilizers, and other products that require manual loading and unloading.” The aim is to “strengthen prevention and control” of the outbreak at ports and “effectively block the spread of overseas epidemics through imported goods.”

Construction Spending Up Month-Over-Month and Year-Over-Year in October

On Wednesday (12-1-21), The U.S. Census Bureau reported that total construction spending during October 2021 was estimated at a seasonally adjusted annual rate (SAAR) of $1,598.0 billion, 0.2% above the revised September estimate of $1,594.8 billion. The October figure is 8.6% above the October 2020 estimate of $1,471.1 billion.

Mortgage Applications Decline Sharply in Week Ending November 26, 2021

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending November 26, 2021, which includes adjustments for the Thanksgiving holiday, the Market Composite Index (a measure of mortgage loan application volume) decreased -7.2% on a seasonally adjusted basis from one week earlier.

West Fraser Temporarily Eliminates Weekend Shift at Williams Lake Plywood Mill

According to West Fraser corporate spokesperson Joyce Wagenaar, “As a result of the significant flooding in southern B.C., the province is now facing serious transportation and logistics issues impacting highways, rail, and our ports.” West Fraser’s Williams Lake mills will be operating at its usual Monday through Friday schedules; however, the company is temporarily curtailing its weekend shift at its plywood mill.

U.S. Housing Prices Increased 18.5% Year-Over-Year in Q3 2021

The Federal Housing Finance Agency (FHFA) announced today (11-30-21) their Housing Price Index (HPI) for Q3 2021. According to the report, year-over-year (Q3 2020 – Q3 2021) home prices rose 18.5%. When compared to Q2 of 2021, they were 4.2% higher. FHFA’s seasonally adjusted monthly price index for September was up 0.9% from August.