European sawn timber markets closed 2025 in a holding pattern, with Nordic exporters navigating persistent structural headwinds amid minimal price movement and cautious buyer sentiment. The December assessment period captured a market characterized by stability rather than recovery. Prices were largely flat across Germany, France, the Benelux region and the United Kingdom, reflecting subdued construction demand, elevated sawlog costs in key producing regions and strategic inventory management by producers and buyers. Even as some specialized sectors showed tentative signs of firming, particularly in engineered wood applications, the broader Nordic export market entered 2026 facing continued pressure from weak end-user activity, ongoing industrial restructuring and lingering macroeconomic uncertainty across the continent. …North American market dynamics: North American softwood sawn timber markets entered 2026 against a backdrop of profound structural challenges and unprecedented trade policy pressures. The most significant development remained the escalation of combined countervailing and anti-dumping duties on Canadian lumber.