{"id":99722,"date":"2026-08-26T07:18:29","date_gmt":"2026-08-26T07:18:29","guid":{"rendered":"https:\/\/www.timberindustrynews.com\/?p=99722"},"modified":"2026-08-26T15:29:46","modified_gmt":"2026-08-26T15:29:46","slug":"swedens-sawlog-rally-breaks-after-years-of-gains","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/swedens-sawlog-rally-breaks-after-years-of-gains\/","title":{"rendered":"Sweden\u2019s sawlog rally breaks after years of gains"},"content":{"rendered":"

Swedish roundwood prices fell substantially in the second quarter of 2026, extending the reversal that began at the start of the year. Pine sawlogs recorded the largest decline, dropping 12% quarter-on-quarter, while spruce fell 9%. The correction follows the exceptional rise in raw-material costs during 2024 and 2025 and comes as additional storm-damaged timber, weaker sawmill margins and lower demand for fresh logs have changed the balance of the Swedish wood market.<\/p>\n

The average calculated price for pine sawlogs under harvesting assignments fell to SEK 855\/m\u00b3 (\u20ac77\/m\u00b3) in Q2, from SEK 975\/m\u00b3 (\u20ac88\/m\u00b3) in the first quarter, according to preliminary data from the Swedish Forest Agency.<\/p>\n

Spruce sawlogs declined to SEK 1,059\/m\u00b3 (\u20ac96\/m\u00b3) from SEK 1,158\/m\u00b3 (\u20ac105\/m\u00b3). Across all sawlog assortments, the national average fell 11% quarter-on-quarter to SEK 967\/m\u00b3 (\u20ac87\/m\u00b3) from SEK 1,084\/m\u00b3 (\u20ac98\/m\u00b3).<\/p>\n

Pulpwood prices also moved lower. Softwood pulpwood dropped 8% to SEK 566\/m\u00b3 (\u20ac51\/m\u00b3), broadleaved pulpwood fell 6% to SEK 561\/m\u00b3 (\u20ac51\/m\u00b3), while fuelwood declined 5% to SEK 450\/m\u00b3 (\u20ac41\/m\u00b3).<\/p>\n

Swedish roundwood prices<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n
Assortment<\/th>\nQ2 2025<\/th>\nQ1 2026<\/th>\nQ2 2026*<\/th>\nq\/q<\/th>\ny\/y<\/th>\n<\/tr>\n<\/thead>\n
Spruce sawlogs<\/strong><\/td>\nSEK 1,236 (\u20ac112)<\/td>\nSEK 1,158 (\u20ac105)<\/td>\nSEK 1,059 (\u20ac96)<\/strong><\/td>\n-9%<\/td>\n-14%<\/td>\n<\/tr>\n
Pine sawlogs<\/strong><\/td>\nSEK 1,026 (\u20ac93)<\/td>\nSEK 975 (\u20ac88)<\/td>\nSEK 855 (\u20ac77)<\/strong><\/td>\n-12%<\/td>\n-17%<\/td>\n<\/tr>\n
Sawlogs, total<\/strong><\/td>\nSEK 1,154 (\u20ac104)<\/td>\nSEK 1,084 (\u20ac98)<\/td>\nSEK 967 (\u20ac87)<\/strong><\/td>\n-11%<\/td>\n-16%<\/td>\n<\/tr>\n
Softwood pulpwood<\/strong><\/td>\nSEK 643 (\u20ac58)<\/td>\nSEK 614 (\u20ac55)<\/td>\nSEK 566 (\u20ac51)<\/strong><\/td>\n-8%<\/td>\n-12%<\/td>\n<\/tr>\n
Broadleaved pulpwood<\/strong><\/td>\nSEK 627 (\u20ac57)<\/td>\nSEK 598 (\u20ac54)<\/td>\nSEK 561 (\u20ac51)<\/strong><\/td>\n-6%<\/td>\n-11%<\/td>\n<\/tr>\n
Fuelwood<\/strong><\/td>\nSEK 552 (\u20ac50)<\/td>\nSEK 471 (\u20ac43)<\/td>\nSEK 450 (\u20ac41)<\/strong><\/td>\n-5%<\/td>\n-18%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
Q2 2026 preliminary. Solid cubic metres excluding bark. EUR equivalents rounded.<\/em><\/h6>\n

The peak was reached in 2025<\/strong><\/p>\n

The Q2 fall is the second consecutive quarterly decline and confirms that the strong upward cycle in Swedish timber prices has broken.<\/p>\n

Spruce sawlogs averaged SEK 1,128\/m\u00b3 (\u20ac102\/m\u00b3) in Q1 2025 and climbed to SEK 1,236\/m\u00b3 (\u20ac112\/m\u00b3) in Q2. Prices remained above SEK 1,200\/m\u00b3 (around \u20ac108\/m\u00b3) through much of the remainder of the year before falling to SEK 1,158\/m\u00b3 (\u20ac105\/m\u00b3) in Q1 2026 and SEK 1,059\/m\u00b3 (\u20ac96\/m\u00b3) in Q2.<\/p>\n

Pine followed the same direction but has corrected more sharply. From SEK 958\/m\u00b3 (\u20ac87\/m\u00b3) in Q1 2025, pine reached SEK 1,026\/m\u00b3 (\u20ac93\/m\u00b3) in Q2. The latest SEK 855\/m\u00b3 (\u20ac77\/m\u00b3) average is 17% below the level recorded a year earlier.<\/p>\n

The difference between the two species is also becoming more pronounced. Spruce commanded a premium of SEK 204\/m\u00b3 (\u20ac18\/m\u00b3) over pine in Q2 2026, compared with SEK 183\/m\u00b3 (\u20ac17\/m\u00b3) in Q1 and SEK 210\/m\u00b3 (\u20ac19\/m\u00b3) a year earlier.<\/p>\n

<\/a><\/p>\n

Why pine is falling faster<\/strong><\/p>\n

One reason for the stronger decline in pine is the additional timber that entered parts of the Swedish market following the severe storms over the past year.<\/p>\n

Storm Johannes brought down large quantities of timber, particularly in central Sweden, and further storm damage added supply during the spring. S\u00f6dra explicitly cited increased raw-material availability following Storm Johannes and Storm Dave when it reduced its pine sawlog price in June. The company said the additional supply had affected pine in particular, while it continued to pay a market premium for spruce.<\/p>\n

The regional inventory figures show the effect clearly. In timber balance region 2, which was most affected by Johannes, softwood sawlog stocks reached 1.38 million m\u00b3 at the end of June, 15% more than three months earlier. Pulpwood inventories in the same region increased by 42% to 1.4 million m\u00b3.<\/p>\n

SCA has also reported that it was processing excess log inventories, mainly pine, generated by the storm. The company described producer stocks of pine as high, while spruce inventories were closer to normal levels.<\/p>\n

That difference helps explain why the national pine price fell considerably faster than spruce during Q2.<\/p>\n

But Sweden does not have a nationwide log surplus<\/strong><\/p>\n

The storm effect should not be confused with a general increase in Swedish log inventories.<\/p>\n

At the end of June, Sweden held 3.5 million m\u00b3 of softwood sawlogs, down 23% from the end of the first quarter. Pulpwood stocks stood at 5.2 million m\u00b3, down 4%, while pulp-chip stocks increased 19% to 1.0 million m\u00b3.<\/p>\n

Combined stocks of softwood sawlogs, pulpwood and pulp chips totalled 9.7 million m\u00b3, around 1.1 million m\u00b3 less than three months earlier. Sawlog inventories decreased in three of Sweden's four timber balance regions.<\/p>\n

The current market therefore has a strong regional component: storm timber has increased availability in the most heavily affected areas, particularly for pine, while inventories have been drawn down elsewhere.<\/p>\n

Sawmill economics have also changed<\/strong><\/p>\n

The other side of the price correction is the financial position of Swedish sawmills.<\/p>\n

The rapid increase in log prices during 2024 and 2025 pushed raw-material costs to levels that became increasingly difficult to recover in the softwood lumber market. Swedish producers entered 2026 with substantially higher timber costs than only two or three years earlier, while the improvement in finished-product prices was considerably more limited.<\/p>\n

Recent company results illustrate the pressure. SCA's Wood division generated operating profit of only SEK 17 million (\u20ac1.5 million) in Q2 2026, down 93% year-on-year, while the division recorded an operating loss of SEK 6 million (\u20ac0.5 million) for the first half compared with a SEK 402 million (\u20ac36 million) profit a year earlier. SCA nevertheless described demand for solid wood products as stable.<\/p>\n

This combination \u2014 relatively stable lumber demand but poor conversion margins \u2014 reduces the incentive for sawmills to continue bidding aggressively for fresh logs.<\/p>\n

The correction in roundwood prices is therefore coming from both supply and demand: more timber has been available in storm-affected regions at the same time as sawmills have become less able to absorb the exceptionally high raw-material costs reached in 2025.<\/p>\n

Pulpwood follows sawlogs lower<\/strong><\/p>\n

Pulpwood has moved in the same direction, although the decline has been less pronounced than for sawlogs.<\/p>\n

Softwood pulpwood reached SEK 656\/m\u00b3 (\u20ac59\/m\u00b3) in Q4 2025 before falling to SEK 614\/m\u00b3 (\u20ac55\/m\u00b3) in Q1 and SEK 566\/m\u00b3 (\u20ac51\/m\u00b3) in Q2. Broadleaved pulpwood declined from SEK 647\/m\u00b3 (\u20ac58\/m\u00b3) to SEK 598\/m\u00b3 (\u20ac54\/m\u00b3) and then SEK 561\/m\u00b3 (\u20ac51\/m\u00b3) over the same period.<\/p>\n

The two assortments are now almost identically priced. The difference was only SEK 5\/m\u00b3 (less than \u20ac0.50\/m\u00b3) in Q2, compared with SEK 9\/m\u00b3 (around \u20ac0.80\/m\u00b3) in Q4 2025.<\/p>\n

Delivery-timber prices confirm that the decline is not limited to harvesting assignments. National delivery-timber prices fell 7% for sawlogs and 8% for pulpwood between Q1 and Q2.<\/p>\n

Prices remain historically high<\/strong><\/p>\n

Despite the speed of the latest decline, Swedish sawlog prices have not returned to the levels seen before the 2024-25 surge.<\/p>\n

The longer series for delivery timber shows pine and spruce sawlogs trading around SEK 450-550\/m\u00b3 (\u20ac41-50\/m\u00b3) during 2019-21. Prices moved steadily higher from 2022 and accelerated strongly during 2024 and the first half of 2025.<\/p>\n

The Q2 correction therefore removes part of the exceptional increase accumulated over the past two years rather than taking the Swedish market back to its previous cost base.<\/p>","protected":false},"excerpt":{"rendered":"

Swedish roundwood prices fell substantially in the second quarter of 2026, extending the reversal that began at the start of the year. Pine sawlogs recorded the largest decline, dropping 12% quarter-on-quarter, while spruce fell 9%. The correction follows the exceptional … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":99723,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[5204],"tags":[],"class_list":["post-99722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news"],"acf":[],"yoast_head":"\nSweden\u2019s sawlog rally breaks after years of gains - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/swedens-sawlog-rally-breaks-after-years-of-gains\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sweden\u2019s sawlog rally breaks after years of gains - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"Swedish roundwood prices fell substantially in the second quarter of 2026, extending the reversal that began at the start of the year. 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Pine sawlogs recorded the largest decline, dropping 12% quarter-on-quarter, while spruce fell 9%. 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