Price for Hot-Rolled Wire Rod in Coils in Latvia - 2023
Contents:
- Price for Hot-Rolled Wire Rod in Coils in Latvia (CIF) - 2022
- Price for Hot-Rolled Wire Rod in Coils in Latvia (FOB) - 2022
- Imports of Hot-Rolled Wire Rod in Coils in Latvia
- Exports of Hot-Rolled Wire Rod in Coils in Latvia
Price for Hot-Rolled Wire Rod in Coils in Latvia (CIF) - 2022
The average import price for hot-rolled wire rods in coils stood at $1,101 per ton in 2022, with an increase of 24% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled wire rod in coils import price increased by +103.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 64% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($1,484 per ton), while the price for Ukraine ($872 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Hot-Rolled Wire Rod in Coils in Latvia (FOB) - 2022
In 2022, the average export price for hot-rolled wire rods in coils amounted to $1,106 per ton, picking up by 23% against the previous year. Over the period under review, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled wire rod in coils export price increased by +64.7% against 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of 43% against the previous year. As a result, the export price reached the peak level of $1,114 per ton; afterwards, it flattened through to 2022.
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 ($1,722 per ton), while the average price for exports to Estonia ($727 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 (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Hot-Rolled Wire Rod in Coils in Latvia
In 2022, approx. 7.8K tons of hot-rolled wire rods in coils were imported into Latvia; declining by -6% against 2021. In general, total imports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +9.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +44.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 54%. As a result, imports attained the peak of 8.3K tons, and then dropped in the following year.
In value terms, hot-rolled wire rod in coils imports surged to $8.6M in 2022. Over the period under review, imports, however, posted significant growth. The pace of growth was the most pronounced in 2021 with an increase of 153% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Hot-Rolled Wire Rod in Coils in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 2,103 | 1,567 | 4,569 | 5,701 | 39.4% |
| Poland | 974 | 785 | 1,222 | 1,308 | 10.3% |
| Ukraine | 98.3 | N/A | 1,210 | 508 | 72.9% |
| Portugal | N/A | N/A | N/A | 442 | 0% |
| United Kingdom | N/A | N/A | N/A | 248 | 0% |
| Estonia | 163 | 132 | 101 | 164 | 0.2% |
| Moldova | 38.8 | 88.4 | 138 | 92.3 | 33.5% |
| Russia | 74.4 | 269 | 31.2 | N/A | -35.2% |
| Others | 226 | 68.6 | 82.7 | 115 | -20.2% |
| Total | 3,677 | 2,910 | 7,354 | 8,579 | 32.6% |
Top Suppliers of Hot-Rolled Wire Rod in Coils to Latvia in 2022:
- Lithuania (5248.0 tons)
- Poland (1182.5 tons)
- Ukraine (582.6 tons)
- Portugal (339.4 tons)
- United Kingdom (167.1 tons)
- Estonia (125.5 tons)
- Moldova (65.7 tons)
Exports of Hot-Rolled Wire Rod in Coils in Latvia
In 2022, approx. 1.2K tons of hot-rolled wire rods in coils were exported from Latvia; rising by 16% against the previous year's figure. In general, total exports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +21.7% 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 +80.2% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 44% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.
In value terms, hot-rolled wire rod in coils exports skyrocketed to $1.4M in 2022. Overall, exports recorded significant growth. The growth pace was the most rapid in 2021 with an increase of 45%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.
| Export of Hot-Rolled Wire Rod in Coils in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Sweden | 237 | 489 | 573 | 639 | 39.2% |
| Iceland | N/A | N/A | N/A | 425 | 0% |
| Finland | 169 | 125 | 324 | 199 | 5.6% |
| Norway | 75.6 | 32.1 | 3.3 | 58.5 | -8.2% |
| Denmark | 8.0 | 17.8 | 32.6 | 23.5 | 43.2% |
| Estonia | 66.1 | 2.7 | 33.7 | 6.9 | -52.9% |
| Others | 15.7 | 2.4 | 0.2 | 26.0 | 18.3% |
| Total | 571 | 669 | 968 | 1,379 | 34.2% |
Top Export Markets for Hot-Rolled Wire Rod in Coils from Latvia in 2022:
- Sweden (558.5 tons)
- Iceland (429.6 tons)
- Finland (172.8 tons)
- Norway (34.0 tons)
- Denmark (23.3 tons)
- Estonia (9.5 tons)
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