{"id":99897,"date":"2026-09-10T06:08:37","date_gmt":"2026-09-10T06:08:37","guid":{"rendered":"https:\/\/www.timberindustrynews.com\/?p=99897"},"modified":"2026-09-10T16:49:55","modified_gmt":"2026-09-10T16:49:55","slug":"european-log-prices-the-nordic-correction-stops-at-the-german-border","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/european-log-prices-the-nordic-correction-stops-at-the-german-border\/","title":{"rendered":"European log prices: The Nordic correction stops at the German border"},"content":{"rendered":"
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Europe\u2019s softwood log market entered September with two very different price cycles running at the same time. In Sweden and Norway, the exceptional raw-material rally of 2024 and 2025 has broken. Pine has led the decline, spruce has followed and sawmills have become less willing to bid aggressively after months of weak conversion margins. Farther south and east, however, prices remain firm. Austrian spruce\/fir sawlogs averaged \u20ac122.50\/m\u00b3 in August, fresh spruce in southern Germany was marketed at \u20ac116\u2013122\/m\u00b3, and Estonian pine and spruce logs remained above \u20ac100\/m\u00b3.<\/p>\n

Finland sits between those groups. Standing-sale prices for spruce logs held above \u20ac83\/m\u00b3 in July and pine was close to \u20ac78\/m\u00b3, only 1% lower than in June. Yet roundwood purchases during January\u2013July were 19% below the previous year. Prices have therefore proved far more resistant than volumes.<\/p>\n

The market does not follow a simple north-to-south divide. Sales terms, log specifications, storm exposure and local wood availability differ considerably from one country to another. The figures are not directly comparable in every case, but the latest GWMI analysis shows clearly where raw-material pressure has eased and where it remains firmly in place.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n

<\/p>\n

Latest European softwood sawlog price signals<\/h2>\n
\n\n\n\n\n\n\n\n\n\n\n\n
Market<\/th>\nAssortment<\/th>\nLatest price<\/th>\nPeriod<\/th>\nMarket direction<\/th>\n<\/tr>\n<\/thead>\n
Austria<\/td>\nSpruce\/fir sawlogs, A-C, 2b<\/td>\n\u20ac122.50\/m\u00b3<\/td>\nAugust<\/td>\n+\u20ac1.19 m\/m<\/td>\n<\/tr>\n
Germany, Bavaria<\/td>\nFresh spruce sawlogs, 2b<\/td>\n\u20ac116-122\/m\u00b3<\/td>\nAugust<\/td>\nFirm regional contracts<\/td>\n<\/tr>\n
Estonia<\/td>\nSpruce logs<\/td>\n\u20ac109.56\/m\u00b3<\/td>\nAugust<\/td>\nBroadly stable since April<\/td>\n<\/tr>\n
Sweden<\/td>\nSpruce sawlogs<\/td>\nSEK 1,059 (\u20ac96)\/m\u00b3<\/td>\nQ2<\/td>\n-9% q\/q; -14% y\/y<\/td>\n<\/tr>\n
Latvia<\/td>\nThick spruce sawlogs<\/td>\n\u20ac99.00\/m\u00b3<\/td>\nMay<\/td>\n+4.9% since start-2026<\/td>\n<\/tr>\n
Finlanda<\/td>\nSpruce logs, standing sales<\/td>\n\u20ac83.14\/m\u00b3<\/td>\nJuly<\/td>\n-1% m\/m; -1% vs 2025 avg.<\/td>\n<\/tr>\n
Norway<\/td>\nSpruce sawlogs<\/td>\nNOK 885 (\u20ac82)\/m\u00b3<\/td>\nJune<\/td>\n-18.6% y\/y<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
Prices exclude VAT. Sales bases differ: Finland reports standing sales; Austria and the German examples are roadside prices; Swedish prices cover harvesting assignments; Norway reports average realised prices. Currency conversions are rounded and use \u20ac1 = SEK 11.03 and \u20ac1 = NOK 10.73.<\/div>\n<\/div>\n
\n
Latest spruce sawlog indicators<\/div>\n
EUR\/m\u00b3; different sales terms and periods<\/div>\n
\n
Austria<\/div>\n
<\/div>\n
122.5<\/div>\n<\/div>\n
\n
Germania<\/div>\n
<\/div>\n
119<\/div>\n<\/div>\n
\n
Estonia<\/div>\n
<\/div>\n
109.6<\/div>\n<\/div>\n
\n
Latvia<\/div>\n
<\/div>\n
99.0<\/div>\n<\/div>\n
\n
Sweden<\/div>\n
<\/div>\n
96<\/div>\n<\/div>\n
\n
Finlanda<\/div>\n
<\/div>\n
83.1<\/div>\n<\/div>\n
\n
Norway<\/div>\n
<\/div>\n
82<\/div>\n<\/div>\n<\/div>\n

Sweden\u2019s raw-material boom has broken<\/h2>\n

Sweden has recorded the clearest reversal. The national average for spruce sawlogs under harvesting assignments fell to SEK 1,059\/m\u00b3 (\u20ac96\/m\u00b3) in the second quarter, down 9% from the first quarter and 14% from a year earlier. Pine fell faster, dropping 12% quarter on quarter and 17% year on year to SEK 855\/m\u00b3 (\u20ac77\/m\u00b3). The average across all sawlog assortments declined 11% in three months.<\/p>\n

The speed of the correction comes from a collision between two changes. Storm-damaged timber lifted supply in parts of central Sweden, particularly for pine, while sawmills became less able to carry the raw-material prices accumulated during 2024-25. The decline is not evidence of a national log glut. Swedish softwood sawlog inventories stood at 3.5 million m\u00b3 at the end of June, 23% below the end of the first quarter. The surplus is regional: timber balance region 2, hit hardest by Storm Johannes, recorded a 15% quarterly increase in sawlog stocks to 1.38 million m\u00b3.<\/p>\n

That regional imbalance helps explain why pine has fallen more sharply than spruce. Storm wood added to producer stocks just as lumber demand failed to generate enough pricing power to cover the former cost of logs. Spruce continues to command a premium of SEK 204\/m\u00b3, or about \u20ac18\/m\u00b3, over pine.<\/p>\n

The decline is substantial, but Swedish logs are not cheap. Spruce stood near SEK 500\/m\u00b3 in early 2020 and pine below SEK 480\/m\u00b3. Even after the Q2 retreat, their nominal prices remain roughly twice those pre-rally levels. For sawmills, part of the cost shock has been removed; the old cost base has not returned.<\/p>\n

\n\n\n\n\n\n\n\n
Sweden<\/th>\nQ2 2025<\/th>\nQ1 2026<\/th>\nQ2 2026<\/th>\nq\/q<\/th>\ny\/y<\/th>\n<\/tr>\n<\/thead>\n
Spruce sawlogs<\/td>\nSEK 1,236<\/td>\nSEK 1,158<\/td>\nSEK 1,059 (\u20ac96)<\/td>\n-9%<\/td>\n-14%<\/td>\n<\/tr>\n
Pine sawlogs<\/td>\nSEK 1,026<\/td>\nSEK 975<\/td>\nSEK 855 (\u20ac77)<\/td>\n-12%<\/td>\n-17%<\/td>\n<\/tr>\n
Softwood pulpwood<\/td>\nSEK 643<\/td>\nSEK 614<\/td>\nSEK 566 (\u20ac51)<\/td>\n-8%<\/td>\n-12%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Norway\u2019s fall is longer and steeper<\/h2>\n

Norway has moved farther from its 2025 peak. The average spruce sawlog price fell from NOK 1,087\/m\u00b3 in June 2025 to NOK 885\/m\u00b3 in June 2026, a decline of 18.6%. Pine dropped from NOK 1,008 to NOK 713\/m\u00b3, or 29.3%. At constant exchange rates, the June levels were approximately \u20ac82\/m\u00b3 for spruce and \u20ac66\/m\u00b3 for pine.<\/p>\n

The monthly sequence shows no convincing floor. Spruce declined from NOK 1,009\/m\u00b3 in December to NOK 964 in January and NOK 885 in June. Pine moved from NOK 855 to NOK 818 and then NOK 713 over the same period. Norway\u2019s average price across all assortments fell every month during the first half, from NOK 796\/m\u00b3 in December to NOK 674 in June.<\/p>\n

The Norwegian data are realised prices from commercial fellings rather than a standardised grade quotation. Changes in assortment and regional mix can therefore affect the monthly average. The persistence of the decline across spruce, pine and pulpwood nevertheless points to a genuine reset in the market, with pine again carrying the largest adjustment.<\/p>\n

\n
Norway: twelve months of price erosion<\/div>\n
NOK\/m\u00b3, June 2025 to June 2026<\/div>\n
\n
Spruce, 2025<\/div>\n
<\/div>\n
1,087<\/div>\n<\/div>\n
\n
Spruce, 2026<\/div>\n
<\/div>\n
885<\/div>\n<\/div>\n
\n
Pine, 2025<\/div>\n
<\/div>\n
1,008<\/div>\n<\/div>\n
\n
Pine, 2026<\/div>\n
<\/div>\n
713<\/div>\n<\/div>\n<\/div>\n

Finland: log prices hold despite weak purchasing<\/h2>\n

Finland offers the strongest evidence that low trade volumes do not automatically produce cheap sawlogs. Purchases from private forests fell to less than half the June level in July, in line with the normal summer slowdown. The month was 7% stronger than July 2025 but 8% below the five-year July average. Across January-July, purchases were 19% lower than a year earlier.<\/p>\n

Log prices barely moved. Spruce averaged \u20ac83.14\/m\u00b3 in standing sales, down 1% from June and only 1% below the 2025 annual average. Pine was \u20ac77.90\/m\u00b3, also 1% lower on the month and 4% below last year\u2019s average. Birch fell more sharply, by 4% to \u20ac61.80\/m\u00b3.<\/p>\n

Between April and June, spruce increased from \u20ac81.33 to \u20ac83.65\/m\u00b3 and pine from \u20ac76.08 to \u20ac78.52\/m\u00b3. July removed only a small part of those gains. Finnish sawmills are buying less timber, but the available supply has not forced forest owners into a large price concession.<\/p>\n

\n\n\n\n\n\n\n\n
Finland standing sales<\/th>\nApril<\/th>\nMay<\/th>\nJune<\/th>\nJuly<\/th>\nvs 2025 avg.<\/th>\n<\/tr>\n<\/thead>\n
Spruce logs<\/td>\n\u20ac81.33<\/td>\n\u20ac82.86<\/td>\n\u20ac83.65<\/td>\n\u20ac83.14<\/td>\n-1%<\/td>\n<\/tr>\n
Pine logs<\/td>\n\u20ac76.08<\/td>\n\u20ac77.28<\/td>\n\u20ac78.52<\/td>\n\u20ac77.90<\/td>\n-4%<\/td>\n<\/tr>\n
Birch logs<\/td>\n\u20ac61.61<\/td>\n\u20ac63.19<\/td>\n\u20ac64.39<\/td>\n\u20ac61.80<\/td>\n-7%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Pulpwood tells a different story. Finnish standing-sale prices have fallen by about \u20ac12\/m\u00b3, or one third, from their June 2025 peak. Spruce pulpwood dropped to \u20ac24.80\/m\u00b3 in July, pine to \u20ac22.77 and birch to \u20ac23.35. Roadside delivery prices remained much higher, between \u20ac41 and \u20ac44\/m\u00b3. The gap is largely the cost of harvesting and delivery, and it is one reason direct comparisons with Baltic roadside quotations can mislead.<\/p>\n

Austria and southern Germany remain expensive<\/h2>\n

Austria has not followed the Nordic correction. The national August average for the principal spruce\/fir sawlog assortment \u2014 grades A, B and C, diameter class 2b \u2014 was \u20ac122.50\/m\u00b3 net at roadside, \u20ac1.19 more than a month earlier. In Lower Austria and Tyrol, reported ranges extended from \u20ac120 to \u20ac130\/m\u00b3.<\/p>\n

The strength is not coming from buoyant construction. Austrian building activity remains weak and sawmill inventories vary widely, from empty to fully supplied. The firmer price is instead the product of restrained forest supply. Earlier stocks in damaged areas have been cleared, the volume of beetle wood has so far remained limited and mills are taking available parcels quickly. Weak lumber demand is meeting an equally cautious log supply.<\/p>\n

The same tension is visible across the border in Bavaria. Regional forest-owner organisations quoted fresh spruce sawlogs at \u20ac116-122\/m\u00b3 in August. Amberg-Schnaittenbach reported a \u20ac122\/m\u00b3 target for better 2b material and described demand for fresh spruce as very good. Fresh pine of comparable diameter was much lower at \u20ac85\/m\u00b3. G\u00fcnzburg-Krumbach quoted \u20ac116\/m\u00b3 for fresh spruce 2b BC, while Memmingen indicated \u20ac118-120\/m\u00b3.<\/p>\n

Germany does not publish a single monthly national sawlog price comparable with Finland\u2019s series. The southern quotations are therefore market references, not a German average. They still matter because Bavaria and neighbouring regions contain a dense concentration of softwood sawmills and trade closely with Austria. The clustering of several August contracts around \u20ac116-122\/m\u00b3 shows that high spruce costs are not confined to one buyer.<\/p>\n

Quality carries a large penalty. In the Amberg market, C-grade spruce was discounted by \u20ac10\/m\u00b3, while straight beetle-damaged material was priced at roughly \u20ac82-102\/m\u00b3 depending on diameter. Sawmills may therefore lower their average intake cost through damaged or lower-grade wood, but the benchmark for fresh, good-quality spruce remains well above the latest Nordic averages.<\/p>\n

The Baltics are no longer a low-cost alternative<\/h2>\n

Estonian private-forest prices stayed close to their recent highs through August. Spruce logs averaged \u20ac109.56\/m\u00b3 and pine \u20ac104.66\/m\u00b3. Spruce was virtually unchanged from April, while pine had eased from \u20ac108.21\/m\u00b3 in January but remained above \u20ac104\/m\u00b3 for five consecutive months. These are roadside market values and are therefore closer in cost basis to the Austrian and German quotations than to Finnish standing sales.<\/p>\n

Latvia shows a similar divide between large and small material. Thick spruce sawlogs increased from \u20ac94.35\/m\u00b3 at the start of the year to \u20ac99\/m\u00b3 in May, while medium spruce reached \u20ac87.82\/m\u00b3. Thick pine held close to \u20ac95\/m\u00b3. Small pine fell to \u20ac68.50\/m\u00b3 and small spruce to \u20ac69.70\/m\u00b3, showing weaker demand for pallet, packaging and lower-yield industrial assortments.<\/p>\n

The Baltic market is therefore selective rather than weak. Large-diameter spruce suitable for higher-value lumber is holding its price; small logs are not. At the same time, competition for lower-grade wood from pulp, panel and energy buyers has pushed Latvian pulpwood much higher. Softwood pulpwood rose from \u20ac42\/m\u00b3 at the start of the year to \u20ac61.50\/m\u00b3 in May. That fibre competition places a floor under the lower end of the log market and limits the savings available through downgrading.<\/p>\n

\n
Change from the 2025 peak<\/div>\n
Principal spruce sawlog indicators<\/div>\n
\n
Norway<\/div>\n
<\/div>\n
about -18%<\/div>\n<\/div>\n
\n
Sweden<\/div>\n
<\/div>\n
-14% y\/y<\/div>\n<\/div>\n
\n
Finlanda<\/div>\n
<\/div>\n
-1% vs 2025 avg.<\/div>\n<\/div>\n
\n
Austria<\/div>\n
<\/div>\n
still firm<\/div>\n<\/div>\n<\/div>\n

European sawmills face sharply different raw material costs<\/strong><\/p>\n

Swedish and Norwegian mills are finally receiving some relief on raw material, particularly pine. That should improve conversion economics once higher-cost inventories have passed through production. The benefit is not immediate: logs bought at the top of the cycle remain in stock, and weak European construction continues to limit the price mills can obtain for softwood lumber.<\/p>\n

Finnish mills face a less favourable combination. Purchasing volumes are down, but spruce and pine log prices have moved only marginally below last year\u2019s average. Lower pulpwood prices ease competition for some fibre, yet do little to reduce the cost of the sawlog grades needed by export-oriented mills.<\/p>\n

Austrian and southern German mills remain at the expensive end of the market. Their August spruce benchmarks exceed the latest Swedish price by roughly \u20ac20-27\/m\u00b3 and the Finnish and Norwegian indicators by close to \u20ac40\/m\u00b3. Part of that gap disappears once harvesting and delivery terms are aligned, but not all of it. The Alpine market is being supported by cautious harvesting and limited damaged-wood supply even as construction demand remains subdued.<\/p>\n

The Baltic states cannot be treated as a uniform low-price sourcing region either. Estonia is already above \u20ac100\/m\u00b3 for both spruce and pine logs, and Latvia\u2019s best spruce assortments are close to that mark. Cheaper small logs exist, but their yield and end-use are different. Strong pulpwood prices also make it harder for sawmills to draw lower-quality material away from pulp and energy consumers.<\/p>\n

For the final months of 2026, the main variable is supply rather than a sudden revival in lumber demand. More storm or beetle wood would accelerate the correction, most visibly in pine and lower grades. If forest owners continue to hold back fresh harvesting, Austria, Germany and parts of the Baltics can retain high prices despite slow construction. Europe has moved past the uniform raw-material inflation of 2024-25; it has not returned to a uniformly cheaper log market.<\/p>","protected":false},"excerpt":{"rendered":"

Europe\u2019s softwood log market entered September with two very different price cycles running at the same time. In Sweden and Norway, the exceptional raw-material rally of 2024 and 2025 has broken. Pine has led the decline, spruce has followed and … Continue reading →<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":99898,"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-99897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news"],"acf":[],"yoast_head":"\nEuropean log prices: The Nordic correction stops at the German border - 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\/european-log-prices-the-nordic-correction-stops-at-the-german-border\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"European log prices: The Nordic correction stops at the German border - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"Europe\u2019s softwood log market entered September with two very different price cycles running at the same time. 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