Latvia - Hot-Rolled Non-Alloy Steel Wire Rods - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Hot-Rolled Non-Alloy Steel Wire Rod in Latvia - 2023
Contents:
- Price for Hot-Rolled Non-Alloy Steel Wire Rod in Latvia (CIF) - 2023
- Price for Hot-Rolled Non-Alloy Steel Wire Rod in Latvia (FOB) - 2022
- Imports of Hot-Rolled Non-Alloy Steel Wire Rod in Latvia
- Exports of Hot-Rolled Non-Alloy Steel Wire Rod in Latvia
Price for Hot-Rolled Non-Alloy Steel Wire Rod in Latvia (CIF) - 2023
In August 2023, the average import price for hot-rolled non-alloy steel wire rods amounted to $802 per ton, remaining relatively unchanged against the previous month. Over the period under review, the import price, however, recorded a mild decline. The most prominent rate of growth was recorded in December 2022 an increase of 29% against the previous month. As a result, import price reached the peak level of $1,173 per ton. From January 2023 to August 2023, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Turkey ($3,178 per ton), while the price for Poland ($720 per ton) was amongst the lowest.
From September 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Turkey (+6.1%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Hot-Rolled Non-Alloy Steel Wire Rod in Latvia (FOB) - 2022
The average export price for hot-rolled non-alloy steel wire rods stood at $1,090 per ton in 2022, with an increase of 22% against the previous year. Overall, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled non-alloy steel wire rod export price increased by +65.4% against 2020 indices. The pace of growth was the most pronounced in 2014 when the average export price increased by 42%. As a result, the export price reached the peak level of $1,101 per ton; afterwards, it flattened through to 2022.
Prices varied noticeably by country of destination: 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 Non-Alloy Steel Wire Rod in Latvia
In 2022, approx. 7.8K tons of hot-rolled non-alloy steel wire rods were imported into Latvia; which is down by -5.7% compared with 2021. Overall, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +9.9% 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 +45.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 55%. As a result, imports attained the peak of 8.3K tons, and then fell in the following year.
In value terms, hot-rolled non-alloy steel wire rod imports soared to $8.6M in 2022. In general, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 153% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.
Import of Hot-Rolled Non-Alloy Steel Wire Rod in Latvia (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Lithuania | 2.1 | 1.6 | 4.6 | 5.7 | 39.5% |
Poland | 1.0 | 0.8 | 1.2 | 1.3 | 9.1% |
Ukraine | 0.1 | N/A | 1.2 | 0.5 | 71.0% |
Portugal | N/A | N/A | N/A | 0.4 | 0% |
United Kingdom | N/A | N/A | N/A | 0.2 | 0% |
Estonia | 0.1 | 0.1 | 0.1 | 0.1 | 0.0% |
Others | 0.3 | 0.4 | 0.3 | 0.2 | -12.6% |
Total | 3.6 | 2.9 | 7.4 | 8.6 | 33.7% |
Top Suppliers of Hot-Rolled Non-Alloy Steel Wire Rod to Latvia in 2022:
- Lithuania (5.3K tons)
- Poland (1.2K tons)
- Ukraine (0.6K tons)
- Portugal (0.3K tons)
- United Kingdom (0.2K tons)
- Estonia (0.1K tons)
Exports of Hot-Rolled Non-Alloy Steel Wire Rod in Latvia
For the fourth consecutive year, Latvia recorded growth in shipments abroad of hot-rolled non-alloy steel wire rods, which increased by 17% to 1.3K tons in 2022. In general, total exports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +19.0% 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 +68.4% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 35% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the near future.
In value terms, hot-rolled non-alloy steel wire rod exports skyrocketed to $1.4M in 2022. Overall, exports saw significant growth. The growth pace was the most rapid in 2021 with an increase of 45%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.
Export of Hot-Rolled Non-Alloy Steel Wire Rod in Latvia (Thousand USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Sweden | 237 | 489 | 573 | 612 | 37.2% |
Iceland | N/A | N/A | N/A | 425 | 0% |
Finland | 147 | 125 | 324 | 199 | 10.6% |
Norway | 73.5 | 32.1 | 3.3 | 58.5 | -7.3% |
Netherlands | 24.5 | 0.1 | N/A | 27.0 | 3.3% |
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 | 2.3 | 0.2 | 26.0 | 18.3% |
Total | 571 | 669 | 968 | 1,379 | 34.2% |
Top Export Markets for Hot-Rolled Non-Alloy Steel Wire Rod from Latvia in 2022:
- Sweden (540.5 tons)
- Iceland (429.6 tons)
- Finland (172.8 tons)
- Netherlands (36.1 tons)
- Norway (34.0 tons)
- Denmark (23.3 tons)
- Estonia (9.5 tons)
This report provides an in-depth analysis of the market for hot-rolled non-alloy steel wire rod 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 24106110 - Ribbed or other deformed wire rod (of non-alloy steel)
- Prodcom 24106120 - Wire rod of free-cutting steel
- Prodcom 24106130 - Wire rod used for concrete reinforcing (mesh/cold ribbed bars)
- Prodcom 24106140 - Wire rod for tyre cord
- Prodcom 24106190 - Other wire rod (of non-alloy steel)
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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