Price for Ferrous Waste and Scrap; of Stainless Steel in Latvia - 2023
Contents:
- Price for Ferrous Waste and Scrap; of Stainless Steel in Latvia (FOB) - 2023
- Price for Ferrous Waste and Scrap; of Stainless Steel in Latvia (CIF) - 2023
- Exports of Ferrous Waste and Scrap; of Stainless Steel in Latvia
- Imports of Ferrous Waste and Scrap; of Stainless Steel in Latvia
Price for Ferrous Waste and Scrap; of Stainless Steel in Latvia (FOB) - 2023
In November 2023, the average export price for ferrous waste and scrap; of stainless steels amounted to $1,788 per ton, flattening at the previous month. Over the period from November 2022 to November 2023, it increased at an average monthly rate of +1.2%. The most prominent rate of growth was recorded in February 2023 when the average export price increased by 33% m-o-m. The export price peaked at $2,002 per ton in April 2023; however, from May 2023 to November 2023, the export prices remained at a lower figure.
Average prices varied noticeably for the major overseas markets. In November 2023, the country with the highest price was Estonia ($1,790 per ton), while the average price for exports to Lithuania stood at $1,490 per ton.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+2.9%).
Price for Ferrous Waste and Scrap; of Stainless Steel in Latvia (CIF) - 2023
In December 2023, the average import price for ferrous waste and scrap; of stainless steels amounted to $1,696 per ton, waning by -2.9% against the previous month. Overall, the import price saw a pronounced curtailment. The growth pace was the most rapid in October 2023 an increase of 11% against the previous month. Over the period under review, average import prices attained the maximum at $2,213 per ton in December 2022; however, from January 2023 to December 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Kazakhstan ($1,793 per ton), while the price for Germany ($375 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+15.7%), while the prices for the other major suppliers experienced a decline.
Exports of Ferrous Waste and Scrap; of Stainless Steel in Latvia
Exports of ferrous waste and scrap; of stainless steels from Latvia contracted significantly to 15K tons in 2022, reducing by -22.2% against 2021. Over the period under review, total exports indicated a temperate expansion from 2019 to 2022: its volume increased at an average annual rate of +3.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +39.8% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 80%. As a result, the exports reached the peak of 19K tons, and then shrank notably in the following year.
In value terms, exports of ferrous waste and scrap; of stainless steels fell to $33M in 2022. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 165% against the previous year. As a result, the exports attained the peak of $35M, and then declined modestly in the following year.
| Export of Ferrous Waste and Scrap; of Stainless Steel in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 14.3 | 11.4 | 31.2 | 32.6 | 31.6% |
| Lithuania | 0.6 | 0.7 | 1.1 | 0.4 | -12.6% |
| India | 0.9 | 0.3 | 1.8 | 0.2 | -39.4% |
| Others | 0.4 | 0.6 | 0.4 | 0.1 | -37.0% |
| Total | 16.1 | 13.1 | 34.6 | 33.3 | 27.4% |
Top Export Markets for Ferrous Waste and Scrap; of Stainless Steel from Latvia in 2022:
- Estonia (14.2K tons)
- Lithuania (0.2K tons)
- India (0.1K tons)
Imports of Ferrous Waste and Scrap; of Stainless Steel in Latvia
In 2022, overseas purchases of ferrous waste and scrap; of stainless steels decreased by -54.3% to 6.1K tons, falling for the second consecutive year after two years of growth. In general, imports faced a deep contraction. The pace of growth appeared the most rapid in 2020 when imports increased by 60%. As a result, imports reached the peak of 15K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of ferrous waste and scrap; of stainless steels shrank sharply to $14M in 2022. Over the period under review, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 85% against the previous year. As a result, imports reached the peak of $26M, and then shrank sharply in the following year.
| Import of Ferrous Waste and Scrap; of Stainless Steel in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 7.4 | 9.9 | 17.8 | 7.2 | -0.9% |
| Lithuania | 2.5 | 2.2 | 3.7 | 4.5 | 21.6% |
| Ukraine | N/A | N/A | 1.0 | 0.8 | -20.0% |
| Kazakhstan | 0.1 | N/A | 0.3 | 0.6 | 81.7% |
| Uzbekistan | N/A | N/A | N/A | 0.4 | 0% |
| Estonia | 0.4 | 0.5 | 0.7 | 0.3 | -9.1% |
| Germany | 0.1 | 0.1 | 0.1 | 0.2 | 26.0% |
| Iceland | N/A | 0.7 | N/A | N/A | 0% |
| Belarus | 0.8 | 0.6 | 2.1 | N/A | 62.0% |
| Others | 0.2 | N/A | 0.2 | 0.3 | 14.5% |
| Total | 11.4 | 14.0 | 25.9 | 14.3 | 7.8% |
Top Suppliers of Ferrous Waste and Scrap; of Stainless Steel to Latvia in 2022:
- Russia (2999.9 tons)
- Lithuania (1797.6 tons)
- Ukraine (343.8 tons)
- Germany (283.4 tons)
- Kazakhstan (200.0 tons)
- Uzbekistan (196.5 tons)
- Estonia (133.6 tons)
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This report provides an in-depth analysis of the market for metal remelting scrap ingots in Latvia.
682
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
139
This report provides an in-depth analysis of the market for metal remelting scrap ingots in Latvia.
682
This report provides an in-depth analysis of the global market for metal remelting scrap ingots.
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