The Bureau of Labor Statistics (BLS) reported on Friday (11/13) that the Producer Price Index (PPI) for final demand increased 0.3% in October, seasonally adjusted
Wood Markets News
New Tokyo Pavilion Made of Cross-Laminated Timbers Appears to Spiraling into the Sky
The Japanese architectural firm Kengo Kuma has adapted the use of cross laminated timber (CLT) in its newly constructed temporary pavilion in Tokyo. The pavilion was designed for events and performances in Tokyo’s Harumi district.
Maibec Inc. Announces Acquisition of B.C.’s Stave Lake Cedar Mill and Prefinishing Facilities
Maibec Inc. and Waldun Forest Ltd., announced on Thursday (11/12) that they had entered into a joint agreement for Maibec’s acquisition of Stave Lake Cedar Mill prefinishing facility located in Dewdney B.C. as well as the assets and brand rights for Stave Lake Cedar Shingles, value added Western Red Cedar and Yellow Cedar Shingles.
China’s Ban on Australian Forest Products Could Actually Boost Green Triangle Processing Industry
According to one Australian forestry sector representative, China’s indefinite suspension of timber exported out Australia’s Victoria region could actually help boost Green Triangle’s processing industry. Industry sources estimate the Green Triangle timber export industry underpins around 1,000 jobs in the south-east of South Australia (SA) and western Victoria.
Kenya Faces Shortage of Timber Just as the Country’s Needs Increase
Kenya’s demand for wood and wood products is increasing faster than their outdated sawmills and lack of forestlands can produce. A logging ban, imposed in 2018 by the Kenyan government, which applies only to government owned land, which is mainly mahogany, cypress and eucalyptus, which was meant to help regenerate its forests has made the situation even more dire, albeit needed.
National Association of Realtors® Reports Metro Home Prices Increased in All Areas in Q3 2020
The National Association of Realtors® (NAR) is reporting in their latest quarterly report that due in large part to record-low mortgage rates and depleted nationwide housing inventory, median single-family home prices grew year-over-year in all 181-metropolitan statistical areas tracked by NAR, as every measured market showed sales price gains.
Builders Report that in Q3 Credit Remained Tight and was More Expensive
According to the latest from the latest National Association of Home Builders survey on financing for Acquisitions, Development and Construction (AD&C) while lenders continued to report tightening credit in Q3, borrowers reported little change in credit availability.
Trade Hostilities Between Australia and China Intensify
China officially announced a ban of logs shipped from Victoria.
Foreclosures Increase in October, Despite Ongoing Moratorium
ATTOM Data Solutions, a multi-sourced national property database, is reporting that despite a moratorium on foreclosures, in October, 6,042 U.S. properties were in the early phase of the foreclosure process. That is number is up 21% from September but remain -79% below the October 2019 level.
Consumer Price Index Unchanged in October
The U.S. Bureau of Labor Statistics (BLS) is reporting that the Consumer Price Index (CPI), excluding the volatile food and energy components (“core” CPI) was unchanged in October on a seasonally adjusted basis after rising 0.2% in September.