Lithuania: Cold-Rolled Steel Products Market 2024

Cold-Rolled Steel Products Market Size in Lithuania

In 2022, after two years of growth, there was significant decline in the Lithuanian cold-rolled steel products market, when its value decreased by X% to $X. In general, consumption, however, recorded a resilient expansion. As a result, consumption attained the peak level of $X, and then reduced remarkably in the following year.

Cold-Rolled Steel Products Exports

Exports from Lithuania

Cold-rolled steel products exports from Lithuania dropped to X tons in 2022, which is down by X% against the previous year. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, cold-rolled steel products exports fell significantly to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Latvia (X tons) was the main destination for cold-rolled steel products exports from Lithuania, with a X% share of total exports. Moreover, cold-rolled steel products exports to Latvia exceeded the volume sent to the second major destination, Estonia (X tons), threefold. The third position in this ranking was taken by Poland (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Latvia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (X% per year) and Poland (X% per year).

In value terms, Latvia ($X), Estonia ($X) and Poland ($X) appeared to be the largest markets for cold-rolled steel products exported from Lithuania worldwide, with a combined X% share of total exports. Russia, Sweden, Ukraine, Belarus and the Netherlands lagged somewhat behind, together accounting for a further X%.

Sweden, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cold-rolled steel products export price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2021, and then reduced rapidly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to the Netherlands ($X 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 Poland (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Cold-Rolled Steel Products Imports

Imports into Lithuania

After two years of growth, supplies from abroad of flat-rolled products of iron or steel (not further worked than cold-rolled) decreased by X% to X tons in 2022. Over the period under review, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2021, and then fell markedly in the following year.

In value terms, cold-rolled steel products imports fell to $X in 2022. Overall, imports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, Poland (X tons) constituted the largest cold-rolled steel products supplier to Lithuania, with a X% share of total imports. Moreover, cold-rolled steel products imports from Poland exceeded the figures recorded by the second-largest supplier, Sweden (X tons), twofold. Finland (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (X% per year) and Finland (X% per year).

In value terms, Poland ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than cold-rolled) to Lithuania, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by Sweden, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Sweden (X% per year).

Import Prices by Country

The average cold-rolled steel products import price stood at $X per ton in 2022, growing by X% against the previous year. In general, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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