Report Update Nov 1, 2024

Finland - Iron Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights

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Finland: Iron Ore Market 2024

Iron Ore Market Size in Finland

The Finnish iron ore market surged to $X in 2021, picking up by 106% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a buoyant increase. Iron ore consumption peaked in 2021 and is expected to retain growth in the immediate term.

Iron Ore Exports

Exports from Finland

In 2021, overseas shipments of iron ores and concentrates decreased by -44% to X tons, falling for the seventh year in a row after three years of growth. In general, exports saw a dramatic decline. The most prominent rate of growth was recorded in 2013 when exports increased by 44% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, iron ore exports soared to $X in 2021. Over the period under review, exports showed a precipitous contraction. The growth pace was the most rapid in 2013 when exports increased by 45%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons) was the main destination for iron ore exports from Finland, with a 91% share of total exports. Moreover, iron ore exports to Turkey exceeded the volume sent to the second major destination, Denmark (X tons), tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey stood at -35.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (-29.1% per year) and Sweden (-9.0% per year).

In value terms, Turkey ($X) emerged as the key foreign market for iron ores and concentrates exports from Finland, comprising 98% of total exports. The second position in the ranking was taken by Denmark ($X), with a 2.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Turkey amounted to -30.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (-30.2% per year) and Sweden (-3.8% per year).

Export Prices by Country

In 2021, the average iron ore export price amounted to $X per ton, surging by 110% against the previous year. Overall, the export price enjoyed strong growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Denmark ($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 (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Ore Imports

Imports into Finland

In 2021, approx. X tons of iron ores and concentrates were imported into Finland; growing by 43% on 2020 figures. The total import volume increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron ore imports surged to $X in 2021. Overall, imports recorded resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Sweden (X tons) constituted the largest supplier of iron ore to Finland, with a 69% share of total imports. Moreover, iron ore imports from Sweden exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume from Sweden totaled -1.6%.

In value terms, Sweden ($X) constituted the largest supplier of iron ores and concentrates to Finland, comprising 70% of total imports. The second position in the ranking was held by Russia ($X), with a 30% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Sweden amounted to +2.1%.

Import Prices by Country

The average iron ore import price stood at $X per ton in 2021, rising by 73% against the previous year. In general, the import price saw notable growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Russia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+4.6%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for iron ores and concentrates in the world?

The countries with the highest volumes of iron ore consumption in 2020 were China, Australia and Russia, together comprising 74% of global consumption.

What are the largest producers of iron ores and concentrates in the world?

Australia constituted the country with the largest volume of iron ore production, comprising approx. 48% of total volume. Moreover, iron ore production in Australia exceeded the figures recorded by the second-largest producer, Brazil, threefold. The third position in this ranking was occupied by Russia, with a 15% share.

What are the leading suppliers of iron ores and concentrates to Finland?

In value terms, Sweden constituted the largest supplier of iron ore to Finland, comprising 72% of total imports. The second position in the ranking was occupied by Russia, with a 28% share of total imports.

What are the leading importers of iron ores and concentrates from Finland?

In value terms, Sweden remains the key foreign market for iron ore exports from Finland.

What is the average export price for iron ores and concentrates in Finland?

The average iron ore export price stood at $117 per ton in 2020, stabilizing at the previous year.

What is the average import price for iron ores and concentrates in Finland?

In 2020, the average iron ore import price amounted to $124 per ton, picking up by 4.5% against the previous year.

This report provides an in-depth analysis of the iron ore market in Finland. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 07101000 - Iron ores and concentrates (excluding roasted iron pyrites)
Prodcom 07101010 -
Prodcom 07101020 -

Country coverage:

Finland

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Finland
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023