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Author: Kéta Kosman

US Construction Employment: Nov 2020

US Construction Employment: Nov 2020

US construction employment gained +27,000 jobs in November to a total of 7.4 million, but employment is -279,000 below its February level, the Bureau of Labor Statistics reported Friday. Residential construction employment, specifically, rose by +15,400 in November to 2.9 million. In November, employment rose in residential specialty trade contractors by +14,100. In the past seven months, +438,100 residential construction jobs were created, offsetting about 96% of the -456,800 residential construction jobs lost in March and April due to the…

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US Construction Spending: Oct and 3Q 2020

US Construction Spending: Oct and 3Q 2020

The total value of US construction put in place in October rose +1.3% from September, and +3.7% from October 2019, to a seasonally adjusted annual rate of US$1.439 trillion, according to US Census Bureau data released Tuesday. US residential construction spending in 3Q 2020 is the highest since the previous residential boom in 2005-2006. Spending is now already +2% higher than previous high in February. Housing completions in 2020 are up +10% and spending is expected to climb another +10%…

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Madison’s Softwood Lumber Prices Dec 4: sneak preview

Madison’s Softwood Lumber Prices Dec 4: sneak preview

Here is a SNEAK PEAK at tomorrow’s print for North American construction framing softwood lumber and panel prices: “Robust demand persisted, sending sawmill order files well toward the end of December.” — Madison’s Lumber Reporter In September 2015, the “recent-low” of lumber prices, benchmark commodity Western Spruce-Pine-Fir KD 2x4s were selling for US$249 mfbm. The last “recent-high” was in June 2018, when this price was US$622 mfbm. The wholesaler price of benchmark construction framing dimension softwood lumber item Western Spruce-Pine-Fir…

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North America Rail Traffic, Lumber: November 2020

North America Rail Traffic, Lumber: November 2020

The Association of American Railroads (AAR) Wednesday reported US and Canadian rail traffic volumes for November 2020. US railroads originated 900,194 carloads in November 2020, down -6%, or 55,198 carloads, from November 2019. US railroads also originated 1,136,695 containers and trailers in November 2020, up +11.5%, or 116,915 units, from the same month last year. Total US carload traffic for the first 11 months of 2020 was 10,380,769 carloads, down -14%, or 1,663,263 carloads, from the same period last year;…

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Continued Unseasonably Strong Demand Sends Lumber Prices Higher

Continued Unseasonably Strong Demand Sends Lumber Prices Higher

US housing starts were mostly flat in 2019. At this time last year softwood lumber sales improved markedly and prices started to rise from quite low levels. As the beginning of 2020 came on, the data on US home building was much improved over the previous year, sending demand for construction framing dimension softwood lumber higher. Sawmills and other lumber industry players were quite encouraged as to what the US home building market would do come spring.Usually this time of…

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Federal Register Publication – AR1 Final for Softwood Lumber Anti-Dumping Portion

Federal Register Publication – AR1 Final for Softwood Lumber Anti-Dumping Portion

The AR1 Results of Final Review have been published in today’s (11/30/2020) issue of the Federal Register confirming the effective date (today) the adjusted subsidy (AD) rates can be used going forward, until further notice, as the AD Cash Deposits.  However, as was the case with the DOC’s Preliminary instructions in 2017, the adjusted CVD rates are not yet effective.

US New Home Sales at 999,000 Annual Rate: Oct 2020

US New Home Sales at 999,000 Annual Rate: Oct 2020

October 2020 US new home sales numbers are +42% higher year-over-year while the September revision indicates two consecutive months of more than 1 million sales, a feat not reached since 2006. US new home sales in October dipped -0.3% to a seasonally adjusted annual rate of 999,000 units last month, the Commerce Department said Wednesday. September’s sales pace was revised higher to 1.002 million units from the previously reported 959,000 units. The all time high for October was 105 thousand…

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First Administrative Review (AR1) in Softwood Lumber Antidumping Duty (AD) and Countervailing Duty (CVD)

First Administrative Review (AR1) in Softwood Lumber Antidumping Duty (AD) and Countervailing Duty (CVD)

US Commerce Dept Preliminary Ruling Significantly Lowers Canada’s Softwood Lumber Duty On February 3, 2020, the U.S. Department of Commerce released its preliminary determination for the First Administrative Review (AR1) in antidumping duty (AD) and countervailing duty (CVD) investigations of imports of certain softwood lumber products from Canada. The final determination by the US Commerce Dept on Canada’s softwood lumber duty rate was supposed be in August but was delayed until November. At that time duty rates could be lowered…

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US House Prices: Sept & 3Q 2020

US House Prices: Sept & 3Q 2020

The S&P CoreLogic Case-Shiller US National Home Price NSA Index reported Tuesday a +7% annual gain in September 2020, up from +5.8% in August. Adding to pressure on home prices is the ever shrinking supply of homes for sale, already at a record low. Inventory fell to a 2.5-month supply at the end of October, according to the National Association of Realtors. While single-family home construction is rising slowly, it is not even close to meeting the demand, especially in…

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As Demand Resurges Softwood Lumber Prices Recover

As Demand Resurges Softwood Lumber Prices Recover

Just unbelievable for this time of year and if someone had predicted it a month ago they would have been met with derisive laughter, but lumber prices were actually up last week as demand increased. This is absolutely unprecedented for the week before US Thanksgiving and sawmills simply do not have enough wood in their yards to sell to ravenous customers.As one large-scale lumber trader put it at the beginning of this week, “Customers who were reluctant to book orders…

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