On May 6th, a NAFTA Panel largely upheld US countervailing duties on Canadian softwood lumber products but remanded several aspects of the investigation for clarification and potential adjustments.
Wood Markets News
US Dept. of Commerce Revises 2015–16 Antidumping Duties in Response to NAFTA Panel Ruling
On April 30th, the US Department of Commerce issued a redetermination of its antidumping duties for certain softwood lumber products from Canada.
Teal Jones Group Reaches Interim Financing Deal; Restarting Operations
Teal Jones Group has reached an interim financing deal that will allow it to restart operations and continue to reorganize its business under court protection from its creditors, The Vancouver Sun reported.
Mortgage Applications Increase in the Week Ending May 3rd
Mortgage loan application volume increased 2.6% on a seasonally adjusted basis from one week earlier, MBA reported.
MBA Mortgage Credit Availability Index Increases for the Fourth Consecutive Month in April
According to the Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI), mortgage credit availability increased in April.
South Korea Updates Regulations: New Opportunities for Wooden Multi-Family Residential Building
South Korea has announced a major change to construction regulations that will facilitate the use of wood in multi-family building, Canada Wood Group reported.
Weaker UK Construction Output Drags Down Imports of Construction Materials
UK imports of main product groups are up by just 0.2% for the first two months of 2024 when compared to the same period in 2023, The Construction Index reported.
Metsä Group’s Regenerative Forestry Principles Improve Natural State of Forests
Finnish forest owners have welcomed the measures implementing Metsä Group’s regenerative forestry principles, the company said.
Stimson Lumber Company to Permanently Close Its Plummer, ID, Sawmill
Citing tight operating margins, Stimson Lumber Company intends to permanently close its Plummer, Idaho, sawmill facility by August, The Spokesman Review reported.
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.