Skip to main content

Nordic Countries

The summer period is a quiet time in the Nordic countries - or at least, that’s how it usually is. But the never-ending non-ferrous pricing roller-coaster is now taking another turn and market players are doing their best to hold on.

The current cocktail of a falling LME and increasing sales deductions from LME rates is pushing scrap prices lower, while rising inflation and interest rates are creating increased economic uncertainty and insecurity within the Scandinavian recycling industry. For the moment, it is difficult to see what could change the situation for the better.

As in many other countries, the increase in inflation caused by higher energy prices, among other factors, is affecting activity levels in this region. Denmark reported 8.2% inflation in June, the highest level since 1983, while Sweden recorded 8.7% and Finland 7.8%. Meanwhile, Norway announced a 6.3% increase in consumer prices in June.

GDP growth in these countries is expected to be affected both for 2022 and 2023. For next year, Sweden is expecting decreased growth of 1.1% compared to 1.4% for Denmark and 2.2% for Norway, with Finland the highest on 2.8%.