Norwegian log prices ease but remain high enough to squeeze sawmill margins

Norwegian log prices have eased in recent months, but the decline is modest compared with last year’s extraordinary surge. Between mid-2023 and late 2024, sawlog prices rose by more than NOK 300–350 per m³ (EUR 26–30), driven by high harvesting activity, strong export demand and tight domestic supply. Recent contracts indicate reductions of NOK 40–70 per m³ (EUR 3.5–6), depending on region, species and delivery terms. Despite this, average spruce and pine log prices remain among the highest in Northern Europe and continue to sit roughly 20–25% above the five-year average ...