USDA is guaranteeing $115.2 million in loans to expand timber production and sawmill capacity across eight states, aiming to reduce wildfire risk and support rural economies.
Wood Markets News
US Building Material Prices Rise 3.1% Year-Over-Year in February
US construction input prices rose 1.3% in February, with residential prices up 3.1% year-over-year, the BLS and ABC reported.
US Single-Family Rent Growth Slows in January but Remains Positive
US single-family rents rose 1.3% year-over-year in January, slowing from prior gains, as more metro areas reported weakening or declining rent growth, Cotality reported.
Denmark’s Tallest Timber Building Tests Circular Construction Methods
A 260-foot mass timber tower in Aarhus, Denmark, is testing circular construction methods, incorporating reused materials and hybrid systems, Metropolis reported.
US Construction Spending Falls in January
US construction spending fell 0.3% in January to $2,190.4 billion (SAAR) but remained 1.0% above year-ago levels.
Canadian Industrial Product and Raw Materials Price Indices for February
The Industrial Product Price Index rose 0.4% in February, while the Raw Materials Price Index increased 0.6%.
US Nonresidential Construction Spending Flat in January
US nonresidential construction spending held flat at $1.245 trillion (SAAR) in January, with private activity falling for a fourth straight month, the Census Bureau and ABC reported.
Lego Plans Mass Timber Office at Virginia Manufacturing Site
LEGO plans a mass timber office at its new manufacturing facility in Virginia as part of a $1 billion, 1.7 million-square-foot development, Built Offsite reported.
US National Interagency Fire Center Wildfire Update for March 20
821 fires were reported during the week ending Friday, March 20, with 47 new large incidents and 28 large fires still uncontained.
Domtar To Restart Glenwood, AR, Sawmill on March 30
Domtar plans to restart its Glenwood, Arkansas, sawmill on March 30.