Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in Latvia - 2023

Contents:

1. Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in Latvia (CIF) - 2023
2. Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in Latvia (FOB) - 2022
3. Imports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in Latvia
4. Exports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in Latvia

Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in Latvia (CIF) - 2023

The average import price for stainless steel bars and rods, angles, shapes and sectionses stood at $4,966 per ton in October 2023, declining by -3.3% against the previous month. Over the period under review, import price indicated a buoyant expansion from October 2022 to October 2023: its price increased at an average monthly rate of +7.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, import price for stainless steel bars and rods, angles, shapes and sectionses decreased by -2.0% against June 2023 indices. The most prominent rate of growth was recorded in November 2022 when the average import price increased by 118% against the previous month. The import price peaked at $6,746 per ton in February 2023; however, from March 2023 to October 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was Poland ($6,281 per ton), while the price for Lithuania ($3,382 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Denmark (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Stainless Steel Bars and Rods, Angles, Shapes and Sections in Latvia (FOB) - 2022

The average export price for stainless steel bars and rods, angles, shapes and sectionses stood at $1,601 per ton in 2022, with an increase of 70% against the previous year. Overall, the export price continues to indicate strong growth. The pace of growth appeared the most rapid in 2013 an increase of 417% against the previous year. As a result, the export price reached the peak level of $5,018 per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

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 Russia ($9,991 per ton), while the average price for exports to Sweden ($1,169 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 Norway (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in Latvia

In 2022, imports of stainless steel bars and rods, angles, shapes and sectionses into Latvia skyrocketed to 1.5K tons, rising by 107% against 2021. Over the period under review, imports posted a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of stainless steel bars and rods, angles, shapes and sectionses soared to $4.7M in 2022. Overall, total imports indicated a remarkable 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, imports increased by +61.3% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Stainless Steel Bars and Rods, Angles, Shapes and Sections to Latvia in 2022:

1. Denmark (501.7 tons)
2. Poland (365.1 tons)
3. Lithuania (200.6 tons)
4. Germany (117.8 tons)
5. Estonia (95.4 tons)
6. Netherlands (82.8 tons)
7. Italy (77.7 tons)

Exports of Stainless Steel Bars and Rods, Angles, Shapes and Sections in Latvia

In 2022, after three years of growth, there was significant decline in overseas shipments of stainless steel bars and rods, angles, shapes and sectionses, when their volume decreased by -34.2% to 2K tons. Overall, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 68% against the previous year.

In value terms, exports of stainless steel bars and rods, angles, shapes and sectionses expanded remarkably to $3.3M in 2022. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 70% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Top Export Markets for Stainless Steel Bars and Rods, Angles, Shapes and Sections from Latvia in 2022:

1. Sweden (1699.6 tons)
2. Denmark (170.1 tons)
3. Russia (82.3 tons)
4. Finland (31.5 tons)

Source: IndexBox Market Intelligence Platform