Report Update: May 1, 2024

Latvia - Iron Or Steel Stranded Wire, Ropes And Cables - Market Analysis, Forecast, Size, Trends And Insights

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Steel Stranded Wire Price in Latvia - 2023

Steel Stranded Wire Price in Latvia (CIF) - 2022

The average steel stranded wire import price stood at $2,223 per ton in 2022, rising by 31% against the previous year. Overall, import price indicated a notable increase 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, steel stranded wire import price increased by +88.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 44% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($6,181 per ton), while the price for Turkey ($1,519 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Steel Stranded Wire Price in Latvia (FOB) - 2022

The average steel stranded wire export price stood at $3,714 per ton in 2022, picking up by 5.7% against the previous year. Over the period under review, the export price enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2021 an increase of 75% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($7,918 per ton), while the average price for exports to Estonia ($1,948 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 Spain (+20.5%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports in Latvia

In 2022, imports of iron or steel stranded wire, ropes and cables into Latvia fell markedly to 3.3K tons, with a decrease of -20% against 2021 figures. Overall, imports recorded a perceptible downturn. The most prominent rate of growth was recorded in 2021 with an increase of 12%. As a result, imports attained the peak of 4.2K tons, and then fell markedly in the following year.

In value terms, steel stranded wire imports totaled $7.4M in 2022. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +18.0% 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 +68.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 61%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Import of Steel Stranded Wire in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Lithuania	272	36.2	544	1,172	62.7%
Turkey	290	207	299	805	40.5%
Ukraine	187	157	777	740	58.2%
Germany	153	157	267	674	63.9%
Spain	446	379	552	539	6.5%
United Kingdom	24.1	0.7	5.9	458	166.9%
South Korea	72.5	245	60.7	444	83.0%
Sweden	311	581	793	311	0.0%
Portugal	2.7	39.0	N/A	308	385.0%
China	133	66.6	67.2	283	28.6%
Netherlands	85.1	31.0	104	236	40.5%
Thailand	N/A	N/A	N/A	232	0%
Russia	1,880	1,654	2,390	223	-50.9%
Others	668	854	1,237	1,001	14.4%
Total	4,524	4,406	7,098	7,425	18.0%

Top Suppliers of Steel Stranded Wire to Latvia in 2022:

Lithuania (649.6 tons)
Turkey (529.7 tons)
Ukraine (459.0 tons)
Spain (267.2 tons)
Portugal (172.6 tons)
China (163.6 tons)
Sweden (159.2 tons)
United Kingdom (157.6 tons)
Thailand (123.3 tons)
South Korea (122.4 tons)
Russia (119.5 tons)
Germany (109.1 tons)
Netherlands (76.2 tons)

Steel Stranded Wire Exports in Latvia

In 2022, exports of iron or steel stranded wire, ropes and cables from Latvia amounted to 808 tons, with an increase of 1.8% against 2021 figures. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 133%. As a result, the exports reached the peak of 1.5K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, steel stranded wire exports expanded markedly to $3M in 2022. The total export value increased at an average annual rate of +9.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 32%. As a result, the exports attained the peak of $3M; afterwards, it flattened through to 2022.

Export of Steel Stranded Wire in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Lithuania	823	1,611	990	842	0.8%
Sweden	682	588	786	756	3.5%
Russia	22.0	60.0	195	472	177.9%
Spain	130	11.3	96.0	143	3.2%
Denmark	110	129	178	136	7.3%
Estonia	250	167	81.6	130	-19.6%
Finland	63.7	117	82.5	123	24.5%
France	102	114	152	122	6.1%
Others	121	249	230	277	31.8%
Total	2,303	3,046	2,791	3,001	9.2%

Top Export Markets for Steel Stranded Wire from Latvia in 2022:

Lithuania (423.5 tons)
Sweden (124.8 tons)
Russia (68.2 tons)
Estonia (66.5 tons)
Finland (26.0 tons)
France (24.0 tons)
Spain (22.8 tons)
Denmark (22.0 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the steel stranded wire market in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 25931130 - Iron or steel stranded wire, ropes and cables (including stranded wires and wire ropes with or without attached fittings not electrically insulated) (excluding electrically insulated)

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023