Ferro-alloys market in Finland

Earlier Report Observations

The ferro-alloys market in Finland showed significant volatility between 2018 and 2024. Market volume expanded by over 10% to 329.8 thousand tons in 2019, but then contracted sharply by one-third to 220.1 thousand tons in 2020. A strong recovery followed in 2021, bringing consumption back to 295.5 thousand tons.

From 2022 onward, the market entered a downward phase, with volume falling to 235.2 thousand tons in 2022 and further to 193.9 thousand tons in 2023. This decline reflected broader adjustments in production and trade flows within the sector.

In 2024, market volume stabilized around 189.4 thousand tons. During this year, Afarak launched a pilot solar-powered ferro-alloy plant in Finland, aiming to reduce carbon emissions by 18%. This move signaled an industry shift towards greener production methods in line with green steel initiatives.

Production ferro-alloys in Finland

In value, 2017-2020, M $ US

Finland's ferro-alloys production declined for the second year in a row. In 2020, output was valued at 450.1 million US dollars, marking an 8.6% year-over-year decrease. Production peaked in 2018 at 613.5 million US dollars, with a 13.6% increase that year. The sharpest drop occurred in 2019, when production fell by 19.7%. Overall, from 2017 to 2020, production decreased by 16.6%, representing a compound annual growth rate of -5.9%.

Annual dynamics of production in Finland in value, 2017-2020, M $ US

In kind, 2017-2020, K t

Ferro-alloys production in Finland fell for the second consecutive year. In 2020, Finland produced 504.9 thousand tonnes, down 1.2% from 2019. Output reached its highest level in 2018 at 515.8 thousand tonnes, with a 2.1% increase that year.

Annual dynamics of production in Finland in kind, 2017-2020, K t

Exports ferro-alloys from Finland

Exports in kind, K t

Finland exported 341.3 thousand tonnes of ferro-alloys in 2020, a 44.2% increase compared to the previous year. Exports saw their largest rise in 2018, growing by 53.2%, while the biggest decline was in 2019, with a 16.1% drop. From 2017 to 2020, exports grew by 85.4%, corresponding to a compound annual growth rate of 22.9%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, K t

From 2017 to 2020, the United States, Sweden, and the Netherlands were the top destinations for Finland's ferro-alloys exports by volume. The United States accounted for 21.4% of exports, Sweden for 20.9%, and the Netherlands for 16.9%. Together, these three countries represented 59.2% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, M $ US

Finland's ferro-alloys export value declined for the second consecutive year. In 2020, exports totaled 288.9 million US dollars, down 1.3% from 2019. The highest value was recorded in 2018 at 320.3 million US dollars, with a 40.6% increase that year. The largest decrease occurred in 2019, when exports fell by 8.6%. Over the period from 2017 to 2020, export value increased by 26.8%, equating to a compound annual growth rate of 8.2%.

Annual dynamics of product's exports from Finland in value, 2017-2020, M $ US

Between 2017 and 2020, Sweden, the United States, and the Netherlands were the leading destinations for Finland's ferro-alloys exports by value. Sweden accounted for 21.6% of export value, the United States for 20.6%, and the Netherlands for 16.8%. Collectively, these three countries made up 59.1% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports ferro-alloys to Finland

Imports in kind, K t

In 2020, Finland imported 56.5 thousand tonnes of ferro-alloys, a 2.0% increase from the previous year. Imports reached their lowest point in 2019 at 55.4 thousand tonnes, with a 15.7% decline that year. The highest volume was in 2018 at 65.7 thousand tonnes, when imports rose by 4.6%. From 2017 to 2020, imports decreased by 10.1%, corresponding to an annualized rate of -3.5%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, K t

From 2017 to 2020, Norway, Ukraine, and Russia were the main sources of ferro-alloys imports to Finland by volume. Norway accounted for 40.7% of imports, Ukraine for 16.0%, and Russia for 6.1%. Together, these three countries represented 62.8% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, M $ US

Finland's ferro-alloys import value fell for the second year in a row. In 2020, imports amounted to 114.1 million US dollars, a significant 17.1% decrease year-over-year. The peak value was in 2018 at 170.6 million US dollars, with a 22.7% increase that year. The sharpest drop was in 2019, when imports declined by 19.3%. Overall, from 2017 to 2020, import value decreased by 17.9%, equating to an annualized rate of -6.4%.

Annual dynamics of product's imports to Finland in value, 2017-2020, M $ US

Between 2017 and 2020, Norway, Brazil, and Ukraine were the primary sources for Finland's ferro-alloys imports by value. Norway accounted for 24.8% of import value, Brazil for 22.5%, and Ukraine for 9.2%. Together, these three countries made up 56.4% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020