NEWS

The latest housing indicators - with one key exception - are showing signs of stabilization after the two-month pause due to the pandemic. The housing sector is currently underbuilt, creating pent-up demand and sensitivity to low interest rates. This puts the housing sector in a good position to recover faster than other sectors of the economy.

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Huali Floors will invest $27 million to build its first U.S. headquarters in Murray County, GA. The company is a leading manufacturer of wood plastic composite flooring, vinyl tiles, and stone plastic composites.

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U.S. hardwood flooring imports dropped 23% in the first quarter of this year despite an increase of 12% in March. In March, imports from China tumbled 85% to the lowest level in ten years as imports from Malaysia and Indonesia grew by 64% and 145%, respectively.

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ITTO: Tropical Timber Market Report (PDF)

China Customs reports that the country's exports of plywood in the first quarter of 2020 were 1.85 million cubic meters, plunging 85% vs. one year ago. Now, the three most important markets for China's plywood exports are the Philippines, the UK, and Japan.

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In response to an allegation filed by Apec International, U.S. Customs has issued a notice of final determination with respect to evasion. Customs concluded that substantial evidence demonstrates that U.S. importer Concannon brought in Chinese-origin plywood that was transshipped through Vietnam without the lawful payment of duties.

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