European softwood lumber prices remained largely stable in May, but market participants increasingly describe demand as weaker than expected, with many buyers continuing to rely on inventories accumulated earlier this year rather than placing significant new orders.
The absence of a traditional spring recovery has left suppliers facing a more competitive market environment. Although sawlog prices remain elevated in Northern Europe and several producers have announced production curtailments, the additional supply discipline has so far been insufficient to stimulate another round of lumber price increases.
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