Price for Iron or Steel; Cast Articles in Latvia - 2023
Contents:
- Price for Iron or Steel; Cast Articles in Latvia (FOB) - 2023
- Price for Iron or Steel; Cast Articles in Latvia (CIF) - 2022
- Exports of Iron or Steel; Cast Articles in Latvia
- Imports of Iron or Steel; Cast Articles in Latvia
Price for Iron or Steel; Cast Articles in Latvia (FOB) - 2023
The average export price for iron or steel; cast articleses stood at $4,316 per ton in August 2023, growing by 15% against the previous month. Overall, the export price, however, recorded a mild reduction. Over the period under review, the average export prices attained the peak figure at $5,392 per ton in January 2023; however, from February 2023 to August 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In August 2023, the country with the highest price was Finland ($6,068 per ton), while the average price for exports to Lithuania ($2,352 per ton) was amongst the lowest.
From December 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+5.4%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Iron or Steel; Cast Articles in Latvia (CIF) - 2022
The average import price for iron or steel; cast articleses stood at $2,421 per ton in 2022, increasing by 34% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($6,125 per ton), while the price for Sweden ($727 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+13.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Iron or Steel; Cast Articles in Latvia
Iron or steel; cast articles exports from Latvia skyrocketed to 2.9K tons in 2022, rising by 15% against 2021. The total export volume increased at an average annual rate of +7.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 23% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, iron or steel; cast articles exports surged to $14M in 2022. Over the period under review, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +17.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +79.3% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Iron or Steel; Cast Articles in Latvia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Norway | 3.7 | 2.7 | 3.0 | 4.3 | 5.1% |
| Sweden | 2.0 | 2.1 | 2.8 | 3.5 | 20.5% |
| Finland | 0.9 | 0.7 | 0.8 | 1.3 | 13.0% |
| Estonia | 0.7 | 0.8 | 1.3 | 1.2 | 19.7% |
| Lithuania | 0.4 | 0.7 | 0.8 | 0.9 | 31.0% |
| United Kingdom | N/A | N/A | N/A | 0.9 | 0% |
| Russia | 0.1 | 0.1 | 0.2 | 0.3 | 44.2% |
| Germany | N/A | N/A | 0.1 | 0.1 | 0.0% |
| Others | 0.6 | 0.5 | 0.5 | 1.2 | 26.0% |
| Total | 8.5 | 7.6 | 9.5 | 13.6 | 17.0% |
Top Export Markets for Iron or Steel; Cast Articles from Latvia in 2022:
- Sweden (722.3 tons)
- Norway (719.6 tons)
- Lithuania (381.8 tons)
- Finland (380.1 tons)
- Estonia (368.0 tons)
- United Kingdom (63.5 tons)
- Germany (43.5 tons)
- Russia (36.1 tons)
Imports of Iron or Steel; Cast Articles in Latvia
In 2022, approx. 3K tons of iron or steel; cast articleses were imported into Latvia; which is down by -31.6% against 2021. In general, imports continue to indicate a mild descent. The most prominent rate of growth was recorded in 2021 with an increase of 83% against the previous year. As a result, imports reached the peak of 4.3K tons, and then dropped notably in the following year.
In value terms, iron or steel; cast articles imports fell to $7.2M in 2022. Over the period under review, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +7.3% 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 +57.5% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 72% against the previous year. As a result, imports reached the peak of $7.8M, and then dropped in the following year.
| Import of Iron or Steel; Cast Articles in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 1,662 | 986 | 2,095 | 2,778 | 18.7% |
| Turkey | 923 | 461 | 1,706 | 1,451 | 16.3% |
| Lithuania | 1,315 | 1,156 | 1,179 | 942 | -10.5% |
| India | 426 | 293 | 476 | 436 | 0.8% |
| United Kingdom | 0.8 | 3.1 | 464 | 430 | 713.1% |
| France | 263 | 397 | 505 | 290 | 3.3% |
| Poland | 233 | 244 | 185 | 152 | -13.3% |
| Sweden | 29.2 | 114 | 165 | 122 | 61.1% |
| Belarus | 88.6 | 186 | 229 | 72.6 | -6.4% |
| Others | 842 | 701 | 796 | 478 | -17.2% |
| Total | 5,783 | 4,540 | 7,799 | 7,151 | 7.3% |
Top Suppliers of Iron or Steel; Cast Articles to Latvia in 2022:
- Germany (1157.3 tons)
- Turkey (742.5 tons)
- India (210.9 tons)
- Sweden (167.7 tons)
- Lithuania (159.5 tons)
- France (139.4 tons)
- United Kingdom (96.6 tons)
- Belarus (81.9 tons)
- Poland (63.7 tons)
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