In their second quarter earnings report, Norbord announced that due to accelerating demand for OSB in North America, that they will be resuming a limited operating schedule, starting sometime in August, on Line 1 of its two-line Cordele, Georgia OSB mill.
Wood Markets News
Vietnam’s Wood and Wood Product Exports Increase in July
The Ministry of Agriculture and Rural Development of Vietnam is reporting that wood and wooden product exports in July were valued at $1.05 billion. A year-over-year increase of 6.2%.
FEA’s Weekly Order Survey Respondents are Reporting Their Sales Continue to Accelerate
Dealers responding to this week’s Weekly Order Survey remain positive about their current business’ status and are reporting that their sales continue to accelerate.
Freres Lumber Company Struggling to Find New Employees
Freres Lumber Co., Inc, headquartered in Lyons Oregon, has a unique and frustrating problem.
Housing Affordability Hits 18-Month Low in Second Quarter of 2020
According to the National Association of Home Builders (NAHB) /Wells Fargo Housing Opportunity Index (HOI), housing affordability declined in the second quarter of 2020.
Builder Confidence in 55+ Housing Market Back to Pre-Pandemic Level
According to the recently released National Association of Builders’ (NAHB) 55+ Housing Market Index (HMI) builder’s confidence in the single-family 55+ housing market increased 27 points to a reading of 65 in the second quarter.
Weekly Jobless Claims Decline More Than Anticipated in the Week Ending 1st August 2020
The U.S. Department of Labor is reporting that an additional 1.186 million Americans made their initial filing for unemployment benefits during the week ending on Saturday August 1st.
Mortgage Rates Hit Another Record Low in Week Ending 6th August 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending 6th August 2020.
American Wood Council and International Code Council Jointly Release Publication – Mass Timber Building and the IBC
A new publication entitled Mass Timber Building and the IBC has been jointly released by the American Wood Council (AWC) and International Code Council (ICC).
National Association of Home Builders Seeks Meeting with Commerce Sec. Wilbur Ross in Regards Current Lumber Prices
According to the National Association of Home Builders (NAHB), near record and record high lumber prices, supply chain disruptions, along with U.S. imposed tariffs on Canadian softwood lumber imports are all contributing to price volatility in the marketplace.