Finland: Market for Chromium Ores and Concentrates 2024

Market Size for Chromium Ores and Concentrates in Finland

The Finnish chromium ore and concentrate market contracted to $X in 2022, approximately reflecting the previous year. Overall, consumption, however, continues to indicate a prominent expansion. Chromium ore and concentrate consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Chromium Ores and Concentrates in Finland

In value terms, chromium ore and concentrate production fell slightly to $X in 2022 estimated in export price. Over the period under review, production saw a mild shrinkage. The pace of growth appeared the most rapid in 2013 when the production volume increased by 3.3% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Exports of Chromium Ores and Concentrates

Exports from Finland

In 2022, approx. X tons of chromium ores and concentrates were exported from Finland; rising by 211% against 2021. Over the period under review, exports, however, showed a dramatic setback. The growth pace was the most rapid in 2017 when exports increased by 1,260%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, chromium ore and concentrate exports surged to $X in 2022. Overall, exports, however, continue to indicate a dramatic decline. The growth pace was the most rapid in 2017 when exports increased by 1,575%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X tons) was the main destination for chromium ore and concentrate exports from Finland, with a 98% share of total exports. It was followed by Estonia (X tons), with a 2.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia totaled -11.5%.

In value terms, Russia ($X) remains the key foreign market for chromium ores and concentrates exports from Finland, comprising 98% of total exports. The second position in the ranking was held by Estonia ($X), with a 2.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Russia amounted to -12.5%.

Export Prices by Country

The average chromium ore and concentrate export price stood at $X per ton in 2022, reducing by -26.8% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chromium ore and concentrate export price decreased by -4.8% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average export price increased by 47%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Estonia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+34.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Chromium Ores and Concentrates

Imports into Finland

After two years of growth, supplies from abroad of chromium ores and concentrates decreased by -67.3% to X tons in 2022. Over the period under review, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 191% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, chromium ore and concentrate imports shrank remarkably to $X in 2022. In general, imports showed a abrupt curtailment. The growth pace was the most rapid in 2021 with an increase of 208%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Africa (X tons) constituted the largest chromium ore and concentrate supplier to Finland, accounting for a 56% share of total imports. Moreover, chromium ore and concentrate imports from South Africa exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was held by Sweden (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from South Africa amounted to -19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-2.1% per year) and Sweden (+78.8% per year).

In value terms, the largest chromium ore and concentrate suppliers to Finland were South Africa ($X), Sweden ($X) and the Netherlands ($X), with a combined 88% share of total imports.

Sweden, with a CAGR of +113.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average chromium ore and concentrate import price stood at $X per ton in 2022, with an increase of 9.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 31%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+19.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :