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 Industry Roundup |
Lumber
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Private investment played big role in securing US$125M Teal Jones sawmill for Plain Dealing, Louisiana; local attorney says more than US$68M of equity has been raised, nearly half from area investors, for project that broke ground in July
Bossier Press-Tribune (12/05)
RBC: US housing market looks tough in 2023, but building material names poised to weather almost any difficulty after record profitability in last two years; West Fraser well-positioned, with US$1.32B in cash, US$772M in softwood lumber deposits at end-Q3
RBC Capital Markets LLC (12/05)
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Oriented Strand Board (OSB)
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CIBC: Mid-week update published Nov. 29 shows SPF lumber falls further, with W. SPF prices down 3.8% week-over-week to US$375/mbf, SYP 2x4 flat at US$455/mbf; OSB pricing down 9.2% to US$295/msf in North Central, and down 3.8% to US$255/msf in South East
CIBC World Markets Inc. (12/02)
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Structural Panels & SIPs
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FrameTec invests US$40M to build manufacturing facility for roof and floor trusses and wall panels in Camp Verde, Arizona; 110,000-sq.-ft. facility is expected to be fully operational by spring 2024, creating more than 180 new jobs
Arizona Commerce Authority (12/05)
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Flooring
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UK textile company HeiQ buys North Carolina-based Chem-Tex Laboratories for US$2.5M to reduce exposure to Europe's high energy prices; US subsidiary HeiQ ChemTex has leased Chem-Tex's Concord site since 2017 to develop, make textile, flooring chemicals
Alliance News (12/02)
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Steel/Iron
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India's Jindal Shadeed to invest more than US$3B to set up a green steel plant in Oman; new plant will produce high-strength automotive products for customers in the Middle East , Europe and Japan
ArabianBusiness.com (United Arab Emirates) (12/05)
#Policy: Govt cuts export duty on steel, iron ore
Indian Manufacturing News (12/05)
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Building & Construction Use
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CleanFiber--which makes building insulation from recycled paperboard--receives US$10.0M to increase local production capacity by five times in next year at Blasdell, New York, facility; expansion to include 5,200-sq.-ft. addition to 60,000-sq.-ft. site
Buffalo News (12/02)
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Office/Non-Residential Furniture
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Stora Enso makes bespoke, climate-smart store interior from 3D-printed biocomposites, which provide greater design freedom; company says biomaterials are key to decarbonizing interior production and moving away from a wasteful economy
Stora Enso Oyj (12/05)
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Building Products & Wood
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Owens Corning completes sale of Russian operations, including a composites manufacturing plant and an Insulation manufacturing plant, to Russian producer of carbon fiber and fiber-based items Umatex
Business Wire (12/05)
Hardwoods Distribution rebrands to ADENTRA, launches new website, logo, social media accounts; CEO says new name reflects 'breadth and strengths' of the business that has been transformed in recent years to 'a one-stop customer buying experience'
Hardwoods Distribution Inc. (HDI) (12/05)
CertainTeed starts construction of glass mat plant in Oxford, North Carolina, which will support manufacture of asphalt roofing shingles; Voith supplies stock preparation system and automation/digitalization solutions from its Papermaking 4.0 portfolio
Voith GmbH & Co. KGaA (12/05)
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Homebuilding
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Residential Construction & Real Estate
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Zacks: Housing prices likely to come down in 2023 as high inflation, mortgage rates turn away buyers; however, rate of decline will depend on how well sellers estimate demand, which could fall faster than expected if recession occurs, employment worsens
Zack's Commentary (12/05)
Value of Canada's building permits fell 1.4% to C$10.0B in October, residential sector losses more than offset non-residential sector gains; residential building permits fell 6.4%, single-family permits down 5.8%, multifamily down 6.9%: Statistics Canada
Statistics Canada (12/05)
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Home Improvement/Furniture
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Home Improvement/Hardware Stores
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Assa Abloy to sell Emtek and Smart Residential business in US and Canada to fully resolve alleged competitive concerns for its proposed acquisition of Spectrum Brands' Hardware and Home Improvement division; businesses outside US, Canada are not in scope
Cision (12/02)
Spectrum Brands confident that Assa Abloy's proposed sale of its Emtek and Smart Residential Business in US, Canada to Fortune Brands will resolve competitive concerns from Dept. of Justice about sale of its hardware and home improvement segment to Assa
Spectrum Brands Holdings Inc. (12/02)
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Construction/Real Estate
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Commercial Construction & Real Estate
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US construction employment in November increased by 20,000 jobs from October to 7.75 million; residential and non-residential construction firms added 16,300 employees and 3,900 employees, respectively: AGC of America
The Associated General Contractors of America (AGC of America) (12/02)
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Industrial Construction/Real Estate
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Georgia Ports Authority to remodel docks at 200-acre Ocean Terminal in Savannah to feature 2,800-ft of berth space to serve two large container ships simultaneously, with work to begin in Jan. 2023; board also adds crane to fleet order for total of eight
Georgia Ports Authority (12/05)
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Construction & Engineering
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US nonresidential construction employment increased by 16,300 positions on net in November; construction unemployment rate fell to 3.9%: Associated Builders and Contractors
Associated Builders and Contractors (12/05)
US nonresidential construction spending decreased 0.3% in October, up 9.8% year-over-year; contractors remained upbeat despite rising cost of capital, elevated materials prices and equipment shortages: Associated Builders and Contractors
Associated Builders and Contractors (12/05)
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Mortgages/Home Financing
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Realtor.com's 2023 housing market report predicts 30-year fixed mortgage rate will average 7.4%, with an early climb followed by retreat to 7.1% by year-end; existing home sales prices expected to climb 5.4%, representing a shift from current trend
The Rockdale Citizen (12/02)
Record 2% of US homes for sale were delisted in 12 weeks ending Nov. 20, up from 1.6% year ago; increase due to sellers receiving no offers for the asking price, as demand fell driven by rising mortgage rates and high home prices: Redfin
Redfin Corp. (12/02)
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Interest Rates
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Standard Chartered lists potential scenarios that could shock markets in 2023, including Fed cutting interest rates by 200 basis points should US suffer deep recession, oil crashing to US$40/barrel if global recession sets in, and Ukraine war is resolved
Business Insider (12/05)
JPMorgan says November's strong jobs report likely exaggerated and Fed still has room to taper rate hikes and pause them in Q1 2023; other analysts, investors see better-than-expected report as a factor that will pressure Fed to keep tightening for longer
Business Insider (12/02)
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Stock
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Latest: Dec, 05 2022
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Latest Value |
Prev |
Chg |
YOY Chg |
| Watchlist |
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Bluelinx (BXC)
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65.54
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69.76
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-6.05%
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-16.21%
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Boise Cascade Co. (BCC)
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70.35
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73.18
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-3.87%
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3.05%
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Builders Firstsource (BLDR)
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61.33
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63.11
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-2.82%
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-13.75%
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Canfor Corp. (CFP.CA)
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23.51
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23.82
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-1.30%
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-18.28%
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Home Depot (HD)
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319.75
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327.99
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-2.51%
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-21.59%
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Interfor (IFP.CA)
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24.33
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25.00
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-2.68%
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-28.96%
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Lousiana Pacific (LPX)
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62.60
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63.98
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-2.16%
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-11.36%
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Lowes Companies (LOW)
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205.75
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214.84
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-4.23%
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-17.27%
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Lumber Liquidators (LL)
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6.51
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6.93
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-6.06%
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-59.51%
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Owens Corning (OC)
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88.85
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91.16
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-2.54%
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-1.87%
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Saint-Gobain SA (SGO) :EPA
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45.69
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44.99
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1.56%
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-21.29%
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Trex (TREX)
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45.25
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45.15
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0.22%
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-66.43%
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West Fraser Timber (WFG)
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75.65
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77.94
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-2.94%
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-11.29%
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West Fraser Timber (WFG.CA)
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102.90
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104.91
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-1.92%
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-5.95%
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Weyerhaeuser (WY)
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31.47
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32.42
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-2.93%
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-17.90%
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Wood & Building Products
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