Ferro-chromium market in Finland

Earlier Report Observations

From 2018 to 2019, the Finnish ferro-chromium market maintained stable production levels around 510–515 thousand tons, supported by steady global demand for stainless steel. Domestic market volume grew to 280 thousand tons in 2019, reflecting this sustained demand. However, in 2020, the COVID-19 pandemic caused global supply chain disruptions, leading to a sharp contraction in Finland's domestic ferro-chromium consumption, which fell to 169 thousand tons.

The market rebounded to 236 thousand tons in 2021, driven by continued global stainless steel demand. A significant shift occurred in 2022 when environmental regulations, including the implementation of chromium dust recovery units to cut emissions, affected production processes. This contributed to a drop in output and, alongside Finland's increased share in global exports, led to a further decline in domestic market volume to 174 thousand tons.

In 2023, the adoption of innovative technologies like plasma arc furnaces improved production efficiency by about 12%, but this transition period coincided with reduced output volumes. By 2024, a modest recovery in European Union crude steel production boosted demand for ferro-chromium, allowing Finnish production to rise slightly to 374 thousand tons, while the domestic market volume stabilized at approximately 143 thousand tons.

Production ferro-chromium in Finland

In value, 2017-2020, M $ US

Finland's ferro-chromium production value declined for the second year in a row. In 2020, output was valued at 450.1 million US dollars, marking an 8.6% decrease from the previous year. Production peaked in 2018 at 613.5 million US dollars, which represented a 13.6% increase that year. The largest decline occurred in 2019, with a 19.7% drop. Overall, between 2017 and 2020, production fell by 16.6%, equivalent to an annualized decline of 5.9%.

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

In kind, 2017-2020, K t

Finland's ferro-chromium production volume also declined for the second consecutive year. In 2020, the country produced 504.9 thousand tonnes, which was 1.2% lower than in 2019. Production reached its highest level in 2018 at 515.8 thousand tonnes, representing a 2.1% increase that year.

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

Exports ferro-chromium from Finland

Exports in kind, K t

In 2020, Finland exported 341.0 thousand tonnes of ferro-chromium, reflecting a sharp 44.2% increase compared to the previous year. Exports saw their largest decline in 2019, dropping by 16.1%, while the largest increase was recorded in 2018 at 53.6%. Between 2017 and 2020, exports grew by 86%, equivalent to an annualized growth rate of 23.0%.

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 main destinations for Finland's ferro-chromium 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-chromium export value declined for the second consecutive year. In 2020, exports amounted to 286.4 million US dollars, indicating a 1.2% decrease from the previous year. The highest value was recorded in 2018 at 318.9 million US dollars, which represented a 43.6% increase that year. The largest decline occurred in 2019, with a 9.1% drop. Overall, between 2017 and 2020, export value increased by 29%, with a compound annual growth rate of 8.9%.

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

From 2017 to 2020, Sweden, the United States, and the Netherlands were the top buyers of ferro-chromium from Finland by value. Sweden accounted for 21.8% of export value, the United States for 19.9%, and the Netherlands for 17.0%. Combined, these three countries represented 58.7% of total export value.

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-chromium to Finland

Imports in kind, K t

In 2020, Finland imported 5.9 thousand tonnes of ferro-chromium, representing a moderate 5.9% increase compared to the previous year. Imports reached their lowest point in 2019 at 5.2 thousand tonnes, which was a 39.2% decline that year. The highest volume was recorded in 2018 at 8.5 thousand tonnes. Overall, between 2017 and 2020, imports decreased by 32.2%, equivalent to an annualized decline of 12.2%.

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

From 2017 to 2020, Russia, Turkey, and Ukraine were the main sources of ferro-chromium imports to Finland by volume, together accounting for 66.9% of total imports.

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-chromium import value declined for the second consecutive year. In 2020, imports amounted to 11.1 million US dollars, which was 21.8% lower than in 2019. The highest value was recorded in 2018 at 20.5 million US dollars, representing a 5.0% increase that year. The largest decline occurred in 2019, with a 30.4% drop. Overall, between 2017 and 2020, import value decreased by 42.8%, equivalent to an annualized decline of 17.0%.

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

From 2017 to 2020, Russia, Turkey, and Kazakhstan were the main sources of ferro-chromium imports to Finland by value. Russia accounted for 44.6% of import value, Turkey for 16.4%, and Kazakhstan for 6.8%. Together, these three countries represented 67.8% of total import value.

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

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