Significant overcapacity in the forest industry led to production curtailments that reduced demand for pulpwood, and pulpwood prices fell during the quarter. Log demand decreased, and log prices began to decline slightly from very high levels.
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The builder cited affordability concerns and competitive conditions, and said it adjusted incentives, sales pace and production while working down spec inventory.
The forestry group cites higher logistics and input costs, a stronger krona and uneven pricing between wood supply and finished products, while pointing to small pulp-price gains late in the quarter.
Affordability limits and cautious buyers keep incentives elevated as orders rise and the builder reduces unsold completed inventory.
Model results show higher EU and UK production, lower U.S. Southeast prices, and larger trade changes than production changes after the rules take effect.
New estimates show lumber demand is more sensitive to housing starts than to GDP per capita or prices, and the revised setup produces lower long-run demand.
Standing sales prices for sawlogs and pulpwood increased, while industrial roundwood purchases from private forests remained below year-earlier and five-year levels.
Sales run at a 3.98 million annual pace as inventory rises and the 2026 forecast is lowered.
Industry groups seek a three-year bankruptcy moratorium as losses top 15 billion rubles.
Canadian shipments fall under U.S. duties, allowing European suppliers to gain share on a shrinking market.
Forecast growth is led by infrastructure spending, higher premises investment and a gradual housing-start rebound.
Daily offtake remains solid and supply from New Zealand is expected to ease from April as harvesting conditions tighten.
Sawlog harvesting drops 11% in February, while energywood totals 0.5 million m3, mostly delimbed stems and whole trees.
Forest chips fell to 9.1 million m3, while forest industry by-products rose to 10.4 million m3 in heat-only and combined heat and power generation.
Buyer market growth also raises trade probability by 1.68%, confirming demand as the main market driver.
Standing-sale softwood log prices stayed near January levels, and delivery-sale spruce and birch pulpwood stabilized while pine edged lower.
First-time buyers take 34% share as inventory rises 2.4% from January.
Weak demand, sky-high sawlog prices, deteriorating currency conditions, and weaker energy assortment revenue weighed on fourth-quarter results.
Lumber demand stayed weak through most of the quarter, while scheduled maintenance reduced pulp output.
Finnfund economist Tangeni Shatiwa says dollar weakness can improve export receipts and ease servicing costs for dollar debt held by many commodity-dependent economies.