Turnover and production volumes 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, revenue was burdened by producer prices that were substantially lower than in the previous year, and by industrial action in early 2024.

The combined production volume of the industry (turnover deflated by the change in producer prices) was one per cent higher in January–February 2025 than in the corresponding period of last year.

The number of personnel employed by metals industry companies in Finland at the end of March was on par with the end of December. The industry had approximately 16,200 employees in March.

Compared to the corresponding period of the previous year, global steel production declined by 0.4 per cent during the January–March period of 2025. Production volumes have contracted in the EU (2.5%) and grown in territories such as Asia (0.5%) and South America (0.5%). North American production is at last year’s level.

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.