Scandinavia: Pig Iron Market 2024

Pig Iron Market Size in Scandinavia

In 2023, the Scandinavia pig iron market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Over the period under review, consumption, however, saw a strong increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Pig Iron Production in Scandinavia

In value terms, pig iron production dropped to $X in 2023 estimated in export price. The total production indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2022, and then contracted in the following year.

Pig Iron Exports

Exports in Scandinavia

After three years of growth, overseas shipments of pig iron and spiegeleisen decreased by X% to X tons in 2023. In general, exports saw a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, pig iron exports dropped to $X in 2023. Overall, exports recorded a abrupt decline. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Norway dominates exports structure, amounting to X tons, which was near X% of total exports in 2023. Finland (X tons) held a relatively small share of total exports.

Norway was also the fastest-growing in terms of the pig iron and spiegeleisen exports, with a CAGR of X% from 2012 to 2023. Finland (X%) illustrated a downward trend over the same period. Norway (X p.p.) significantly strengthened its position in terms of the total exports, while Finland saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Norway ($X) remains the largest pig iron supplier in Scandinavia, comprising X% of total exports. The second position in the ranking was taken by Finland ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Norway stood at X%.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable expansion. The pace of growth was the most pronounced in 2018 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2022, and then fell in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Norway ($X per ton), while Finland stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Finland (X%).

Pig Iron Imports

Imports in Scandinavia

Pig iron imports reduced to X tons in 2023, shrinking by X% compared with 2022 figures. Overall, imports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports reached the peak of X tons. From 2019 to 2023, the growth of imports failed to regain momentum.

In value terms, pig iron imports plummeted to $X in 2023. Over the period under review, imports recorded a perceptible reduction. The most prominent rate of growth was recorded in 2022 when imports increased by X%. As a result, imports reached the peak of $X, and then dropped sharply in the following year.

Imports by Country

Sweden was the key importer of pig iron and spiegeleisen in Scandinavia, with the volume of imports finishing at X tons, which was near X% of total imports in 2023. It was distantly followed by Finland (X tons), mixing up a X% share of total imports.

Sweden was also the fastest-growing in terms of the pig iron and spiegeleisen imports, with a CAGR of X% from 2012 to 2023. Finland (X%) illustrated a downward trend over the same period. Sweden (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) constitutes the largest market for imported pig iron and spiegeleisen in Scandinavia, comprising X% of total imports. The second position in the ranking was held by Finland ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in Sweden totaled X%.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2023, declining by X% against the previous year. Over the period under review, the import price, however, enjoyed modest growth. The pace of growth appeared the most rapid in 2022 an increase of X%. As a result, import price attained the peak level of $X per ton, and then shrank significantly in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Finland ($X per ton), while Sweden stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Finland (X%).

Source: IndexBox Platform