Articles
Lumber Prices Post Biggest Weekly Drop
BLOOMBERG — Lumber futures posted their biggest-ever weekly loss, extending a tumble from all-time highs reached last month as sawmills ramp up output and buyers hold off on purchases. Prices in Chicago fell 18% this week, the biggest decline for most-active futures in records going back to 1986. Lumber has
China’s high prices leave wood industry fearing for its survival
By Catherine Harris NEW ZEALAND STUFF — Thirty years ago the Government sold off much of its Crown forestry estate. Today it’s looking to forestry, now largely in private hands, to achieve many aims. Help offset carbon, provide enough timber for our housing industry, earn export income, and supply
Canfor Announces Re-institution of Normal Course Issuer Bid
Vancouver, BC — Canfor Corporation has announced that it has received regulatory approval to re-institute a normal course issuer bid that expired in March 2020. Under the new bid, the Company may purchase for cancellation up to 6,260,970 common shares of the Company or approximately 5% of the 125,219,400 Shares
B.C. deploys over 200 wildfire fighters to Quebec and Ontario
CBC NEWS — British Columbia is deploying more than 200 personnel to help fight wildfires in Ontario and Quebec. In a written statement, the Ministry of Forests, Lands, Natural Resource Operations and Rural Development said it was sending 184 firefighters on Friday and Saturday, and another 20 on Sunday. “COVID-19 precautions
U.S. Consumer Prices Rising at Fastest Pace in a Decade
NAHB — The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.6% in May on a seasonally adjusted basis, following an increase of 0.8% in April. It marks the largest increase since June 2009. Excluding the volatile food and energy components, “core” CPI increased by 0.7%
Investment in building construction increased 6.3%
STATISTICS CANADA — Total investment in building construction increased 6.3% to $19.9 billion. Residential construction investment performed strongly in April, rising for a 12th consecutive month. In contrast, non-residential construction has not fully returned to pre-COVID-19 levels. However, it increased by 0.9% this month. On a constant dollar basis (2012=100), investment in building construction was
Resolute Forest Spending $50M to Expand Output
Resolute Forest Products Inc. is spending $50 million to grow its lumber production after a U.S. housing boom sent demand soaring and lifted prices to record highs. The company is expanding capacity at sawmills in Ontario and Florida, it said in a statement Thursday. The funds will also go to modernizing
