Wood Markets News


Canadian Investment in Building Construction Declined 1.9% in May

Statistics Canada (StatsCan) is reporting that investment in building construction modestly slowed in May, declining -1.9% to $19.4 billion (CAD). This was the first drop in building construction since April of 2020. Residential construction investment was down -2.7% to $14.8 billion in May, with declines in both single and multifamily construction.

Commercial and Multifamily Mortgage Delinquencies Hold Steady in June

According to Mortgage Bankers Association’s (MBA) latest monthly CREF Loan Performance Survey, the delinquency rates for mortgages backed by commercial and multifamily properties held steady in June. The MBA developed the survey to better understand the ways the COVID-19 pandemic is impacting commercial mortgage loan performance. The survey reveals that 95.2% of outstanding loan balances were current, unchanged from May.

Australia’s Building Boom Leads to a Surge in Sawmill Employment

According to analysis provided by the Australian Forest Products Association (AFPA), the COVID-19 pandemic has fueled a building boom in the country, and as a result Australia’s timber framing sawmills have increased employment by almost 25%. This analysis is in stark contrast to reported Organization for Economic Co-operation and Development (OECD) global trends that suggested that timber processing employment would fall.

Wildfire Season Well Ahead of 2020’s Disastrous Pace in California and Other States and Provinces

A dry winter and early heat waves have the entire State of California is in the grip of drought, much of it classified as extreme or exceptional. So far this year, the number of wildfires and the amount of land burned in bone dry California has greatly exceed totals for the same period in the disastrous wildfire year of 2020. Between 1st January 1, 2021 and July 4, 2021, there have been 4,599 separate fires that have scorched 114.8 square miles.

Moelven Announces $70 million Investment to Upgrade and Increase Capacity at Two Swedish Sawmills

Moelven Industriers ASA has announced that they will be investing more than SEK 600 million ($70 million) in modernizing and increasing capacity at two of their sawmills in the years to come. At the Moelven Edanesågen AB facility, the entire production process from timber sorting, timber intake, will include a new saw line and new dryer that will increase the mills capacity.