Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Latvia - 2023

Contents:

1. Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Latvia (CIF) - 2023
2. Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Latvia (FOB) - 2022
3. Imports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Latvia
4. Exports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Latvia

Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Latvia (CIF) - 2023

The average import price for iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses stood at $766 per ton in August 2023, dropping by -4.1% against the previous month. Over the period under review, the import price recorded a abrupt curtailment. The most prominent rate of growth was recorded in February 2023 an increase of 12% m-o-m. Over the period under review, average import prices reached the peak figure at $1,173 per ton in December 2022; however, from January 2023 to August 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Turkey ($3,178 per ton), while the price for Poland ($720 per ton) was amongst the lowest.

From December 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Turkey (+6.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Latvia (FOB) - 2022

The average export price for iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses stood at $1,220 per ton in 2022, jumping by 36% against the previous year. Overall, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses increased by +81.7% against 2020 indices. The growth pace was the most rapid in 2018 when the average export price increased by 73% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($1,898 per ton), while the average price for exports to Estonia ($802 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Latvia

In 2022, approx. 7.4K tons of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses were imported into Latvia; with a decrease of -10.6% against the previous year's figure. Over the period under review, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +7.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +38.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 55%. As a result, imports reached the peak of 8.3K tons, and then shrank in the following year.

In value terms, imports of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses soared to $8.8M in 2022. In general, imports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 153% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils to Latvia in 2022:

1. Lithuania (4992.1 tons)
2. Poland (1125.1 tons)
3. Ukraine (554.3 tons)
4. Portugal (322.9 tons)
5. United Kingdom (158.9 tons)
6. Estonia (116.7 tons)
7. Moldova (62.5 tons)

Exports of Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils in Latvia

For the fourth consecutive year, Latvia recorded growth in overseas shipments of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses, which increased by 15% to 1.2K tons in 2022. Overall, total exports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +24.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +91.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 54% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, exports of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coilses skyrocketed to $1.5M in 2022. Over the period under review, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Iron or Non-Alloy Steel; Bars and Rods, Hot-Rolled, in Irregularly Wound Coils from Latvia in 2022:

1. Sweden (557.0 tons)
2. Iceland (428.4 tons)
3. Finland (172.3 tons)
4. Norway (33.9 tons)
5. Denmark (23.3 tons)
6. Estonia (9.4 tons)

Source: IndexBox Market Intelligence Platform