Our history
Jernkontoret (literally, The Iron Office) represents the interests of the Swedish steel industry in all matters except the labour market. Its first by-laws were approved in 1747 by King Fredrik I. This makes Jernkontoret Sweden's oldest trade association and one of the oldest in Europe.
Jernkontoret is a corporation under public law with private ownership and is linked to the individual steelworks and not to specific persons or companies.
These by-laws required Jernkontoret to work for reasonable prices for various types of iron and facilitate financing of the iron trade by paying the interest on loans granted by the Bank of Sweden weighed iron. In time, all Swedish ironworks joined Jernkontoret. The partnership of an ironworks cannot be redeemed and is cancelled only if production is discontinued or the partnership is transferred to another works involved in iron production.
In the 1760s Jernkontoret was granted the right to run its own lending business, a right which is no longer exercised. Formally however, Jernkontoret could claim to be Sweden's next oldest bank, second only to the Bank of Sweden.
During its first year Jernkontoret started the advisory service and technical research activities that have substantially contributed to its central position within the Swedish iron and steel industry.
Jernkontoret’s seal since 1747.
The two cornucopias filled with fruits and flowers symbolise riches and abundance. The symbol for iron shows that all this wealth is built on iron. The chest below with its long chain is an emblem of Jernkontoret’s former banking activities.
In the first half of the 18th century, Sweden was the largest iron exporter in the world. By the end of the 1730's the export of iron accounted for three-quarters of the total value of Swedish exports. Nevetheless, in 1729 a pricefall occurred which became more acute in the years that followed. The owners of the ironworks received less and less for their product.Using all ways available, the authorities tried to save an industry so vital to the country but these attempts yielded meagre results.
In 1743, Anders Nordencrantz, an ingenious businessman and assiduous writer on economic and political affairs, proposed that the crisis would be alleviated through the establishment of a 'jernkontor'-a kind of trading company. This he saw as an organisation that would buy up all Swedish iron and release iy onto the market only when the price had risen to a reasonable level. Following discussions, this proposal was revised to cover just the support purchase of iron.
An agreement to establish an association was concluded by appointed representatives of the ironmasters on 17th March 1744, in Stockholm. The formation of this association marks the origins of Jernkontoret. Amongst the owners of the ironworks, however, support for the association was not so widespread as the promoters had hoped for.
Negotiations concerning the organisation of Jernkontoret continued over the following years and, on the initiative of the iron exporter and politician Thomas Plomgren, a reworked proposal was put forward. The driving forces behind this new proposal were the people who would subsequently form Jernkontoret's board; the mineinspector Erik Stockenström the district judge and ironworks owner in Värmland, Carl Gustav Löwenhjelm, and the ironmaster, Jean Lefebure.This proposal was approved in secret committee and, on 29th December 1747, king Fredrik I gave his sanction to Jernkontoret by way of a royal decree. This may be said to be Jernkontoret's corporate charter.
