Residential building construction costs rose 0.8% in Q4, following a 0.9% increase in Q3. Nonresidential building construction costs also increased 0.8%.
Wood Markets News
Poor Selling Conditions Weigh on Canadian Builder Sentiment
The CHBA Housing Market Index for Q4 showed that poor selling conditions are leading to a further decline in the sentiment of Canada’s homebuilding industry, the Journal of Commerce reported.
US Job Openings and Labor Turnover Summary for December
Job openings fell to 7.6 million by the end of December, a decrease of 556,000 from the previous month. Year-over-year, openings were down by 1.3 million.
Sveza Group Implementing Robotic Systems at Its Plywood Mill to Offset Labor Shortage
Russia’s Sveza Group is investing 400 million rubles (US$3.97 million) to install robotic systems at its production facility in Tyumen to help offset an acute labor shortage.
US to Pause Tariffs on Canada and Mexico for 30 Days
President Trump announced he would pause implementation of tariffs on Mexico and Canada for 30 days, AP reported.
Southeast Timber Products Announces $120 Million Expansion of Its Ackerman, MS, Sawmill
Southeastern Timber Products plans to invest more than $120 million to expand its sawmill in Ackerman, Mississippi, WTVA reported.
Canadian Sawmill Production and Shipments Decline in November
Canadian lumber production declined 6.0% to 3,996.8 thousand cubic meters. Year-over-year, production was down 10.9%.
US Construction Spending Rises 0.5% in December
Total construction spending in December was estimated at rate of $2,192.2 billion (SAAR), 0.5% above the revised November estimate.
Brazilian Exports of Wood-Based Products Increase Year-Over-Year in December
Brazilian exports of wood-based products (excluding pulp and paper) rose 14% in value year-over-year in December, ITTO reported.
Rettenmeier Holding Acquires Large Share of Insolvent Ziegler Group’s Operations
The timber group Rettenmeier Holding has acquired the sawmill and other significant parts of the wood processing division of the insolvent Ziegler Group, BR24 reported.