Global Wood Markets Info spoke with sawmills, timber traders, distributors, importers and industry executives across Europe and North America during the past two weeks. Although individual markets continue to perform differently, the conversations increasingly point toward a common conclusion: the timber industry has entered a transition period where traditional market indicators no longer tell the full story.

Weak construction activity continues to dominate headlines and remains the primary reason why European softwood lumber demand has yet to recover. Residential construction is still well below the levels reached during the post-pandemic years, financing costs remain elevated and buyers continue to purchase cautiously, often limiting orders to immediate requirements. Yet, despite this subdued demand environment, the industry is no longer discussing demand alone. More conversations are beginning to focus on what happens once construction eventually returns.