Finland: Iron Ore Market 2021

Iron Ore Market Size in Finland

The Finnish iron ore market reduced markedly to $X in 2019, with a decrease of -X% 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). Over the period under review, consumption faced a abrupt shrinkage. The growth pace was the most rapid in 2010 when the market value increased by X% year-to-year. Iron ore consumption peaked at $X in 2011; however, from 2012 to 2019, consumption remained at a lower figure.

Iron Ore Exports

Exports from Finland

In 2019, the amount of iron ores exported from Finland expanded modestly to X tons, growing by X% compared with 2018 figures. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Exports peaked in 2019 and are expected to retain growth in the immediate term.

In value terms, iron ore exports surged to $X in 2019. Overall, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2008 when exports increased by X% against the previous year. Exports peaked in 2019 and are expected to retain growth in years to come.

Exports by Country

The Netherlands (X tons), Egypt (X tons) and Sweden (X tons) were the main destinations of iron ore exports from Finland, with a combined X% share of total exports.

From 2007 to 2019, the biggest increases were in Sweden (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), the Netherlands ($X) and Sweden ($X) appeared to be the largest markets for iron ore exported from Finland worldwide, together accounting for X% of total exports.

Sweden (+X% per year) saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average iron ore export price stood at $X per ton in 2019, picking up by X% against the previous year. Overall, export price indicated a resilient increase from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, iron ore export price increased by +X% against 2014 indices. The pace of growth was the most pronounced in 2011 an increase of X% y-o-y. Over the period under review, average export prices attained the maximum in 2019 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2019, the country with the highest price was Sweden ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Sweden, while the prices for the other major destinations experienced more modest paces of growth.

Iron Ore Imports

Imports into Finland

In 2019, iron ore imports into Finland shrank slightly to X tons, leveling off at the previous year. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure at X tons in 2011; however, from 2012 to 2019, imports stood at a somewhat lower figure.

In value terms, iron ore imports amounted to $X in 2019. In general, imports, however, enjoyed a perceptible expansion. The growth pace was the most rapid in 2010 when imports increased by X% year-to-year. Over the period under review, imports hit record highs at $X in 2011; however, from 2012 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, Sweden (X tons) constituted the largest iron ore supplier to Finland, with a X% share of total imports. Moreover, iron ore imports from Sweden exceeded the figures recorded by the second-largest supplier, Russia (X tons), threefold.

From 2007 to 2019, the average annual rate of growth in terms of volume from Sweden was relatively modest.

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

From 2007 to 2019, the average annual rate of growth in terms of value from Sweden amounted to +X%.

Import Prices by Country

In 2019, the average iron ore import price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, import price indicated noticeable growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, iron ore import price increased by +X% against 2016 indices. The pace of growth was the most pronounced in 2008 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2011; however, from 2012 to 2019, import prices failed to regain the momentum.

Average prices varied noticeably amongst the major supplying countries. In 2019, the country with the highest price was Russia ($X per ton), while the price for Sweden stood at $X per ton.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Sweden.

Source: IndexBox Platform

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