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 Industry Roundup |
Lumber
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West Fraser, Canfor, Resolute, Interfor, Tolko, J.D. Irving, in virtual meeting with Canada's international trade minister, push for softwood lumber dispute to be on agenda of Ottawa summit between Prime Minister Trudeau and President Biden
Canada StockWatch (03/13)
US Court of Appeals upholds Mississippi district court decision against New England Construction, which sued top 10 lumber companies for allegedly inflating prices during pandemic; plaintiff lacks standing to sue as it did not buy directly from defendants
Pakistan Law Reporter (03/13)
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Oriented Strand Board (OSB)
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CIBC: Mid-week update published March 7 shows lumber slides modestly as mills attempt to firm prices, with W. SPF down 1.9% since March 3 to US$365/mbf, and SYP 2x4 flat at US$481/mbf; OSB pricing unchanged in North Central, South East and Western Canada
CIBC World Markets Inc. (03/10)
West Fraser is committed to reopening of, and long-term investment in, Allendale, South Carolina, OSB mill acquired from GP in 2021; CEO says Allendale, shut since 2019, will be ‘one of our best positioned and lowest cost assets’
Industry Intelligence Inc. (03/10)
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Engineered Wood Products (EWP)
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Single-family home to be built in Highland, Virginia, will use mass timber, most likely sourced from plants in Dothan, Alabama, and Fayetteville, Arkansas; contractor expects mass timber construction to increase, driving pricing to be more competitive
Reporter Newspapers & Atlanta Intown (03/13)
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Joinery, Doors & Millwork
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Los Angeles-based private equity firm Platinum is reportedly expected to pay between AU$600M and AU$700M for Jeld-Wen's Australasian arm; earlier price expectations for the business were about AU$1B
Australian, The (03/10)
Carter Lumber to invest US$26M expanding in South Carolina, creating 80 jobs; it will renovate a Florence County facility to manufacture roof and floor trusses, as well as hanging interior door units, and serve as a millwork warehouse for stock mouldings
South Carolina Dept. of Commerce (03/10)
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Cement / Concrete
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Adani Group stocks are on an upswing after its $2.15 billion loan pre-payment
Quartz (03/13)
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Steel / Iron
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SteelAsia to equip its Calaca steel plant in Batangas, Philippines, with AI developed by Germany's SMS Group; technology to help SteelAsia boost output without increasing carbon footprint
Business Mirror (Philippines) (03/13)
Algoma Steel Appoints EllisDon as Construction Manager for Electric Arc Furnace Project
Algoma Steel Inc. (03/13)
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Wood Construction
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Almost 50% of Swedes want to see national focus on timber construction; 64% think their municipality should build climate-smart buildings, 71% believe Sweden should continue to invest in climate-smart materials for construction: Novus survey from Sodra
Sodra Skogsagarna Ekonomisk Forening (03/10)
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Metal Construction Materials
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DuPont showcases Tedlar film solutions for roofing industry at International Roofing Expo; Tedlar has provided long-lasting protection on metal surfaces around the world for years
PR Web (03/13)
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Building & Construction Use
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Global Building Products reaches out to custom coatings provider DVUV for UV powder coatings as pre-finishing for standard door and frame components; UV powder coatings offer alternative to less environmentally-friendly solvent coatings, company notes
Products Finishing (03/10)
Researchers develop cellulosic film with hydrophobic and oil, gas, water vapor barrier properties using paper waste; film contains starch, calcium carbonate, regenerated cellulose coated with AKD, shows potential packaging, construction, agriculture use
Sustainability (03/10)
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Building Codes / Construction Standards
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Bill that would allow Minnesota loggers to haul 9.5 ft.-long logs heads to Minnesota House of Representatives; proponents say it would boost logging industry efficiency, help loggers and truckers economically, meet modern building construction standards
Mesabi Tribune, The (MN) (03/10)
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Office / Non-Residential Furniture
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HNI to acquire Kimball International in cash and stock transaction valued at about US$485M; transaction is expected to close by mid-2023 and combined company will have pro forma annual revenue of about US$3.1B
HNI Corp. (03/13)
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Building Products & Wood
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Royal Plywood introduces Chêne Noyer, a collection of pre-finished, ready-to-install European oak and domestically sourced American walnut veneer panels
Royal Plywood Co. (03/13)
Ethisphere names Owens Corning as one of the 2023 World’s Most Ethical Companies, the sixth consecutive year company has been recognized with the honor
Business Wire (03/13)
Canada's international trade minister at meeting with lumber industry leaders reiterates that the only acceptable resolution to softwood lumber dispute with US is one that protects Canadian jobs, communities
States News Service (03/13)
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Homebuilding
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Residential Construction & Real Estate
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Zillow: US set record in 2022 for most 'million-dollar' cities where typical home is worth US$1M+, but nation has lost 58 million-dollar cities since peak in July; competition is picking up heading into spring, but sellers may have missed market's peak
PR Newswire (03/13)
US home prices fell 0.8% month-over-month in December, up 5.8% year-over-year, with San Francisco and Seattle registering annual declines; annual gain was lower than the 7.6% increase registered in November: S&P CoreLogic Case-Shiller Index
Standard & Poor's Financial Services LLC (S&P) (03/13)
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Housing Affordability
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US homebuyers with a US$2,500 monthly housing budget can afford a US$376,000 home, down from US$400,000 the prior month; sale prices grew most in Milwaukee, Wisconsin, West Palm Beach and Miami, Florida, Columbus, Ohio and Virginia Beach, Virginia: Redfin
Redfin Corp. (03/13)
John Burns Consulting: Rising incomes, falling home prices should ease affordability challenges, but changes to date aren't enough for a reset; despite declines in California, Northwest and Southwest, US resale home values still 36% above pre-Covid levels
John Burns Real Estate Consulting LLC (03/10)
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Home Improvement/Furniture
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Home Improvement / Hardware Stores
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Lowe's is testing autonomous, 400-pound security robots from Knightscope to patrol parking lots at some stores to enhance safety; robots look for known threats, including people issued criminal trespass warnings, terminated employees, domestic abusers
Business Insider (03/13)
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Construction/Real Estate
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Commercial Construction & Real Estate
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Hyundai India signs term sheet to potentially acquire GM plant in Talegaon, Maharashtra, India; proposed acquisition includes land, buildings, certain machinery and equipment for manufacturing
Automotive: Plans & Government Policies (India) (03/13)
Crow Holdings’ Southstone Yards office project in Frisco, at seven stories and 242,000-sq.-ft., is first and largest mass timber office building going up in North Texas; all the wood is southern yellow pine from southern Alabama, northern Florida
Dallas Morning News (03/10)
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Construction & Engineering
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USGBC opens registration for 2023 Greenbuild International Conference and Expo to be held in Washington, D.C., from Sept. 26-29
U.S. Green Building Council (03/13)
US construction firms added 24,000 employees in February from prior month to total of 7,918,000; employment up 3.2% year-over-year: AGC of America
The Associated General Contractors of America (AGC of America) (03/10)
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Mortgages / Home Financing
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KPMG economist expects US home prices to fall 8% in 2023, sees housing recession deepening as Fed doubles down on efforts to derail inflation; additional rate hikes could keep mortgages closer to 7% than 6% for much of the year
Fortune (03/10)
US 30-year fixed-rate mortgage averaged 6.73 percent as of March 9, up from 6.65% last week; 30-year FRM averaged 3.85% a year ago: Freddie Mac
Federal Home Loan Mortgage Corp. (Freddie Mac) (03/10)
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Interest Rates
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Commentary: Silicon Valley Bank failure presents low risk for Canadian sector; interest rates have been going up, and some banks are better at managing this change than others, but SVB was obviously poor at managing this transition, says finance professor
Canadian Press DataFile (03/13)
Commentary: Collapse of Silicon Valley Bank, broader risks to financial system will lead Fed to raise interest rates by no more than 25 basis points in March; Barclays says Fed likely to hold rates steady and pause after reaching peak rate of 5%-5.25%
USA Today Online (03/13)
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Stock
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Latest: Mar, 13 2023
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Latest Value |
Prev |
Chg |
YOY Chg |
| Watchlist |
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Bluelinx (BXC)
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78.41
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80.94
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-3.13%
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-11.22%
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Boise Cascade Co. (BCC)
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62.86
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64.99
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-3.28%
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-18.04%
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Builders Firstsource (BLDR)
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79.84
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81.64
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-2.20%
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7.41%
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Canfor Corp. (CFP.CA)
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22.36
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23.19
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-3.58%
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-21.30%
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Home Depot (HD)
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286.52
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286.31
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0.07%
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-9.56%
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Interfor (IFP.CA)
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22.66
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24.12
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-6.05%
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-41.75%
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JELD-WEN Holding Inc. (JELD)
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12.23
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12.65
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-3.32%
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-46.45%
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Lousiana Pacific (LPX)
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55.08
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55.85
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-1.38%
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-16.99%
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Lowes Companies (LOW)
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197.55
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196.66
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0.45%
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-11.10%
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Lumber Liquidators (LL)
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3.75
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3.91
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-4.09%
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-75.17%
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Masonite International Corporation (DOOR)
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87.24
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87.00
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0.28%
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-6.58%
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Owens Corning (OC)
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92.21
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93.32
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-1.19%
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2.68%
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Saint-Gobain SA (SGO) :EPA
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55.63
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56.38
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-1.33%
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3.27%
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Trex (TREX)
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48.66
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48.82
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-0.33%
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-34.28%
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West Fraser Timber (WFG)
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71.98
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72.76
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-1.07%
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-23.11%
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West Fraser Timber (WFG.CA)
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99.29
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100.97
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-1.66%
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-16.79%
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Weyerhaeuser (WY)
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30.16
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29.86
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1.00%
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-23.88%
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Wood & Building Products
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