Citing tight operating margins, Stimson Lumber Company intends to permanently close its Plummer, Idaho, sawmill facility by August, The Spokesman Review reported.
Wood Markets News
Fannie Mae’s Home Purchase Sentiment Index Unchanged in April as Homebuyers Adjust to Higher Mortgage Rates
The Fannie Mae Home Purchase Sentiment Index® was unchanged in April, holding at a reading of 71.9, and is showing signs of plateauing once again.
Rayonier Advanced Materials Announces Sale of Softwood Duty Refund Rights
Rayonier Advanced Materials has reached agreement regarding the sale to OCP Lumber LLC of the company’s softwood duty refund rights.
Georgia’s First Georgia-Grown Mass Timber Project Completed
Georgia’s first Georgia-grown mass timber building utilizing a regional supply chain has been completed, the Woodworking Network reported.
IKEA Announces New Wave of Price Cuts
Ingka Group, the largest IKEA retailer with about 90% of IKEA retail sales, said it continues to lower prices despite a challenging year.
City of Beijing Ends Curbs on Multiple Home Ownership in Outer Areas to Stimulate Buying
The City of Bejing relaxed some rules on multiple home purchases after 13 years to stimulate a stagnant property market, the South China Morning Post reported.
Roseburg Provides Update on New Dillard, OR, MDF and Component Plants
Roseburg shared an update on its $700 million investment in its manufacturing operations in Southern Oregon.
Canadian Sawmill Production and Shipments Rise in February
Lumber production rose 8.9% month-over-month to 4,352.4 thousand cubic meters in February. Year-over-year, production was up 10.8%.
US Court of International Trade Orders Commerce Department to Redo Countervailing Duties on Canadian Lumber
The US Court of International Trade ordered the Department of Commerce to “better explain its refusal to check whether suppliers for investigated companies had received government subsidies,” Woodworking Network reported.
Associated Builders and Contractors Sees Additional Job Growth Potential in Nonresidential Construction in 2024
The Associated Builders and Contractors reviewed the Bureau of Labor Statistics nonfarm payroll report for April.