Price for Wire of Other Alloy Steel in Latvia - 2023
Contents:
- Price for Wire of Other Alloy Steel in Latvia (CIF) - 2023
- Price for Wire of Other Alloy Steel in Latvia (FOB) - 2022
- Imports of Wire of Other Alloy Steel in Latvia
- Exports of Wire of Other Alloy Steel in Latvia
Price for Wire of Other Alloy Steel in Latvia (CIF) - 2023
The average import price for wire of other alloy steels stood at $1,449 per ton in August 2023, picking up by 27% against the previous month. Over the period under review, the import price recorded a slight expansion. The growth pace was the most rapid in December 2022 an increase of 56% month-to-month. Over the period under review, average import prices hit record highs at $2,280 per ton in January 2023; however, from February 2023 to August 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was China ($4,618 per ton), while the price for Turkey ($1,085 per ton) was amongst the lowest.
From October 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Finland (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Wire of Other Alloy Steel in Latvia (FOB) - 2022
The average export price for wire of other alloy steels stood at $2,573 per ton in 2022, picking up by 27% against the previous year. In general, the export price saw a prominent increase. The pace of growth was the most pronounced in 2013 when the average export price increased by 335%. As a result, the export price attained the peak level of $2,585 per ton; afterwards, it flattened through to 2022.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($5,282 per ton), while the average price for exports to Estonia ($1,478 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 Germany (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Wire of Other Alloy Steel in Latvia
Wire of other alloy steel imports into Latvia surged to 7.3K tons in 2022, jumping by 54% against 2021. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 109% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.
In value terms, wire of other alloy steel imports soared to $9.3M in 2022. Overall, imports saw a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 72% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.
| Import of Wire of Other Alloy Steel in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | 207 | 660 | 1,943 | 4,871 | 186.6% |
| Finland | 809 | 1,047 | 1,445 | 1,466 | 21.9% |
| China | 440 | 330 | 215 | 1,457 | 49.1% |
| Lithuania | 283 | 248 | 435 | 407 | 12.9% |
| Russia | 166 | 799 | 1,501 | 361 | 29.6% |
| Poland | 104 | 163 | 231 | 203 | 25.0% |
| Others | 382 | 360 | 447 | 563 | 13.8% |
| Total | 2,390 | 3,608 | 6,216 | 9,328 | 57.4% |
Top Suppliers of Wire of Other Alloy Steel to Latvia in 2022:
- Turkey (4.7K tons)
- China (1.2K tons)
- Finland (0.6K tons)
- Russia (0.3K tons)
- Lithuania (0.2K tons)
- Poland (0.1K tons)
Exports of Wire of Other Alloy Steel in Latvia
In 2022, approx. 41 tons of wire of other alloy steels were exported from Latvia; which is down by -56.1% compared with 2021. Overall, exports saw a dramatic decrease. The smallest decline of -17.3% was in 2020.
In value terms, wire of other alloy steel exports contracted significantly to $106K in 2022. Over the period under review, exports saw a sharp reduction. The smallest decline of -12.9% was in 2020.
| Export of Wire of Other Alloy Steel in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Kazakhstan | N/A | N/A | N/A | 40.3 | 0% |
| Hong Kong SAR | N/A | N/A | N/A | 39.0 | 0% |
| Belarus | 230 | 153 | 113 | 11.8 | -62.8% |
| Estonia | 18.0 | 3.4 | 8.2 | 5.1 | -34.3% |
| Russia | 7.3 | 9.2 | 0.3 | 4.9 | -12.4% |
| Lithuania | 1.4 | 5.0 | 3.7 | 4.3 | 45.4% |
| Uzbekistan | N/A | 48.5 | 53.6 | N/A | 10.5% |
| Others | 15.6 | 17.7 | 10.6 | 0.6 | -66.2% |
| Total | 272 | 237 | 189 | 106 | -27.0% |
Top Export Markets for Wire of Other Alloy Steel from Latvia in 2022:
- Kazakhstan (20.6 tons)
- Hong Kong SAR (7.4 tons)
- Belarus (6.5 tons)
- Estonia (3.4 tons)
- Lithuania (1.8 tons)
- Russia (1.3 tons)
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