Finland: Market for Iron and Steel Wire 2025

Market Size for Iron and Steel Wire in Finland

The Finnish iron and steel wire market fell slightly to $X in 2021, waning by -3.9% against the previous year. In general, consumption saw a slight contraction. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Production of Iron and Steel Wire in Finland

In value terms, iron and steel wire production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt decline. Iron and steel wire production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Iron and Steel Wire

Exports from Finland

In 2021, iron and steel wire exports from Finland surged to X tons, with an increase of 219% against 2020 figures. Over the period under review, exports, however, saw a abrupt decrease. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron and steel wire exports soared to $X in 2021. In general, exports, however, recorded a abrupt slump. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X tons) was the main destination for iron and steel wire exports from Finland, accounting for a 62% share of total exports. Moreover, iron and steel wire exports to Russia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold. The third position in this ranking was held by Estonia (X tons), with a 3.1% share.

From 2012 to 2021, the average annual growth rate of volume to Russia totaled -6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+53.6% per year) and Estonia (-11.9% per year).

In value terms, Russia ($X) remains the key foreign market for iron and steel wire exports from Finland, comprising 69% of total exports. The second position in the ranking was taken by Estonia ($X), with a 7.5% share of total exports. It was followed by Belarus, with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia stood at -7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (-11.3% per year) and Belarus (+231.1% per year).

Export Prices by Country

The average iron and steel wire export price stood at $X per ton in 2021, which is down by -21% against the previous year. Overall, the export price continues to indicate a mild slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 58%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+34.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron and Steel Wire

Imports into Finland

In 2021, approx. X tons of iron and steel wire were imported into Finland; with a decrease of -16.1% against the year before. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 224%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, iron and steel wire imports skyrocketed to $X in 2021. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 35%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

The Czech Republic (X tons), Sweden (X tons) and Slovakia (X tons) were the main suppliers of iron and steel wire imports to Finland, together accounting for 55% of total imports.

From 2012 to 2021, the biggest increases were recorded for Slovakia (with a CAGR of +17.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Sweden ($X) and Slovakia ($X) were the largest iron and steel wire suppliers to Finland, with a combined 52% share of total imports.

Slovakia, with a CAGR of +17.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average iron and steel wire import price amounted to $X per ton, jumping by 41% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 220% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, 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 Germany ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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