Turnover in the sector remains flat

The turnover of metals industry companies (steel products, non-ferrous metals, castings and metallic minerals) in Finland decreased by approximately nine 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–July of this year, the turnover of metals industry companies in Finland was two per cent higher than twelve months earlier.

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

At the end of September, metals industry companies in Finland employed 0.6 per cent more people than at the end of June. The industry employed approximately 16,100 people in September.

Compared to the corresponding period of last year, global steel production declined by 1.6 per cent during the January–September period of 2025. Production volumes by region have decreased almost everywhere. Growth has been seen only in Africa and the Middle East. Production volumes fell by 3.7 per cent in the EU and 1.5 per cent in Asia. In North America, the production volume has remained unchanged.

China, India, the United States and Japan were the largest producers in January–September. China accounted for approximately 54 per cent of global steel production in the first part of the year.