The settlement acknowledges plans to transform and reopen Northern Pulp Nova Scotia in Pictou will not proceed and provides for a review process to determine whether a new, modern mill in Nova Scotia is viable.
Wood Markets News
BC’s Chief Forester Reduces Allowable Annual Cut for Part of Southern Vancouver Island
The new AAC for TFL 46 is 360,000 cubic meters, a 5.5% reduction from the previous AAC set in 2012.
Isojoen Saha Announces Significant Investment in Its Isojoki, Finland, Sawmill
Finland’s Isojoen Saha announced on Friday that it will build a new main sawmill line. The investment is one of the largest in the company’s 74-year history.
Mortgage Applications Decline in the Week Ending May 24th
Mortgage loan application volume decreased 5.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6.3% compared with the previous week.
S&P CoreLogic Case-Shiller US National Home Price NSA Index Posts 6.5% Annual Gain in March
The S&P CoreLogic Case-Shiller US National Home Price NSA Index reported an annual gain of 6.5% in March, following a 6.5% increase in February.
US Consumer Confidence Index Moves Higher in May, Ending Streak of Three Consecutive Declines
The Consumer Confidence Index® increased to 102.0 (1985=100) in May, up from an upwardly revised April reading of 97.5.
FHFA House Price Index Up 6.6% Year-Over-Year in Q1
The FHFA House Price Index rose 6.6% between 2023Q1 and 2024Q1. Prices were up 1.1% compared to 2023Q4.
Keitele Group Announces Major Investment at Its Sawmill in Keitele, Finland
Keitele Group is investing more than EUR 40 million to increase annual sawn timber capacity at its sawmill in Keitele, Finland.
Canadian Industrial Product and Raw Materials Price Indexes for April
Lumber and other wood products had the largest downward impact on the IPPI’s month-over-month movement in April, falling 1.3%.
BC Moves to Streamline and Standardize the Local Building Permit Process
BC announced a new digital Building Permit Hub to help streamline the permitting process and to get more homes built faster.