Turnover in the industry remains stable

The turnover of metals industry companies (steel products, non-ferrous metals, castings and metallic minerals) in Finland decreased by approximately 9 per cent in 2024 from 2023. In 2024, their turnover in Finland amounted to slightly less than EUR 14 billion. Last year, turnover was burdened by producer prices that were substantially lower than in the previous year, and by industrial action in early 2024.

In January-April of this year, the turnover of metals industry companies in Finland was 11 per cent higher than twelve months earlier.

The combined production volume of the industry (turnover deflated by the change in producer prices)  was 2 per cent higher in January-May this year than in the corresponding period of last year.

The number of personnel employed by metals industry companies in Finland at the end of June was 0.7 per cent lower than at the end of March. The industry employed approximately 16,000 people in June.

Compared to the corresponding period of last year, global steel production declined by 2.2 per cent during the January–June period of this year. Production volumes have contracted almost all over the world, with growth being seen only in Africa. Production volumes fell by 3.3 per cent in the EU, 1.9 per cent in Asia and 0.6 per cent in North America.

China, India, Japan and the United States were the largest steel producers in January–June. China accounted for approximately 55 per cent of global steel production.