RFP Group has launched a US$58 million plywood mill in Russia’s Khabarovsk Territory, with a capacity of 120,000 cubic meters per year.
Wood Markets News
Interfor Cuts Lumber Production Further in Q4
Interfor will cut Q4 lumber production by ~250 million board feet (26%). Reductions are split about evenly between Canada and the US.
Georgia-Pacific to Permanently Close Its Memphis, TN, Cellulose Mill
Georgia-Pacific will permanently close its Memphis Cellulose mill and innovation center by early December, affecting about 150 employees amid weak market conditions.
Leading Indicator of Remodeling Activity Points Slow but Steady Growth Into 2026
LIRA forecasts homeowner remodeling spending will rise to 2.4% year-over-year in 2026Q1 before easing to 1.9% in 2026Q3.
US Existing-Home Listings Rise as Pending Sales Fall
New listings rose 4.1% year-over-year in early October, Redfin reported, but pending home sales fell 1.2% as affordability and economic concerns kept buyers cautious.
As Mass Timber Expands, Ironworkers Step in to Fill Labor Gap
Mass timber projects have grown more than fivefold since 2017, and ironworkers are expanding training to meet rising demand for skilled labor in the sector, WoodWorks and Construction Dive reported.
Canada to Provide New Financial Support for Softwood Lumber Sector
Canada will offer up to CA$700 billion to softwood lumber producers through loans supported by the Business Development Bank of Canada.
US Builder Confidence for Newly Built Single-Family Homes Rises in October
Confidence rose five points to 37 in October, its highest since April, although sentiment remains in negative territory, NAHB reported.
US New-Home Purchase Mortgage Applications Decrease in September
Mortgage applications for new-home purchases fell 5.0% in September but were up 6.0% year-over-year, MBA reported.
Canadian Housing Starts Rise in September
Canadian housing starts rose 14% in September to 279,234 units (SAAR), while the six-month trend increased 4.1% to 277,147 units, CMHC reported.