Price for Steel, Stainless; Ingots and Other Primary Forms in Latvia - 2023
Contents:
- Price for Steel, Stainless; Ingots and Other Primary Forms in Latvia (CIF) - 2022
- Price for Steel, Stainless; Ingots and Other Primary Forms in Latvia (FOB) - 2022
- Imports of Steel, Stainless; Ingots and Other Primary Forms in Latvia
- Exports of Steel, Stainless; Ingots and Other Primary Forms in Latvia
Price for Steel, Stainless; Ingots and Other Primary Forms in Latvia (CIF) - 2022
The average import price for steel, stainless; ingots and other primary formses stood at $2,957 per ton in 2022, waning by -12.1% against the previous year. Over the period under review, the import price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2020 an increase of 161%. As a result, import price attained the peak level of $7,081 per ton. From 2021 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Lithuania ($5,667 per ton), while the price for Azerbaijan ($2,634 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+6.0%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Steel, Stainless; Ingots and Other Primary Forms in Latvia (FOB) - 2022
The average export price for steel, stainless; ingots and other primary formses stood at $10,226 per ton in 2022, increasing by 3.2% against the previous year. Overall, the export price showed a resilient increase. The most prominent rate of growth was recorded in 2014 an increase of 2,408% against the previous year. As a result, the export price reached the peak level of $98,333 per ton. From 2015 to 2022, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Uruguay ($50,306 per ton), while the average price for exports to Finland ($6,197 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 Uruguay (+406.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Steel, Stainless; Ingots and Other Primary Forms in Latvia
For the fourth consecutive year, Latvia recorded growth in purchases abroad of steel, stainless; ingots and other primary formses, which increased by 7.2% to 777 tons in 2022. Over the period under review, imports continue to indicate significant growth. The growth pace was the most rapid in 2021 when imports increased by 427% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, imports of steel, stainless; ingots and other primary formses contracted to $2.3M in 2022. Overall, imports posted a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 361% against the previous year.
| Import of Steel, Stainless; Ingots and Other Primary Forms in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Azerbaijan | N/A | N/A | 1,024 | 1,898 | 85.4% |
| Lithuania | 112 | 132 | 212 | 224 | 26.0% |
| Russia | N/A | N/A | 259 | N/A | 0% |
| Others | 99.6 | 842 | 945 | 176 | 20.9% |
| Total | 212 | 974 | 2,440 | 2,297 | 121.3% |
Top Suppliers of Steel, Stainless; Ingots and Other Primary Forms to Latvia in 2022:
- Azerbaijan (720.6 tons)
- Lithuania (39.5 tons)
Exports of Steel, Stainless; Ingots and Other Primary Forms in Latvia
In 2022, exports of steel, stainless; ingots and other primary formses from Latvia skyrocketed to 68 tons, jumping by 54% compared with the previous year's figure. Overall, exports, however, recorded a abrupt contraction.
In value terms, exports of steel, stainless; ingots and other primary formses soared to $694K in 2022. Over the period under review, exports saw strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 85% against the previous year. As a result, the exports attained the peak of $811K. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Steel, Stainless; Ingots and Other Primary Forms in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lithuania | 103 | 398 | 400 | 338 | 48.6% |
| Estonia | N/A | 44.2 | 21.3 | 135 | 74.8% |
| Germany | N/A | N/A | N/A | 119 | 0% |
| Uruguay | N/A | N/A | 4.0 | 81.2 | 1930.0% |
| Finland | N/A | 0.4 | 9.0 | 12.6 | 461.2% |
| Denmark | 332 | 367 | N/A | 2.1 | -81.5% |
| Others | 3.6 | 0.7 | 1.0 | 5.4 | 14.5% |
| Total | 438 | 811 | 435 | 694 | 16.6% |
Top Export Markets for Steel, Stainless; Ingots and Other Primary Forms from Latvia in 2022:
- Lithuania (39.7 tons)
- Estonia (18.4 tons)
- Germany (5.3 tons)
- Finland (2.0 tons)
- Uruguay (1.6 tons)
- Denmark (0.1 tons)
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