Estonia: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in Estonia

The Estonian market for hot-rolled non-alloy steel wire rods soared to $X in 2023, jumping by X% against the previous year. Over the period under review, consumption, however, recorded a noticeable shrinkage. Hot-rolled non-alloy steel wire rod consumption peaked at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in Estonia

In value terms, hot-rolled non-alloy steel wire rod production surged to $X in 2023 estimated in export price. In general, production, however, saw a noticeable decline. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2023, production stood at a somewhat lower figure.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from Estonia

In 2023, approx. X tons of hot-rolled non-alloy steel wire rods were exported from Estonia; which is down by X% compared with the year before. In general, exports showed a noticeable contraction. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, hot-rolled non-alloy steel wire rod exports declined notably to $X in 2023. Over the period under review, exports showed a noticeable setback. The pace of growth appeared the most rapid in 2018 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Finland (X tons) was the main destination for hot-rolled non-alloy steel wire rod exports from Estonia, with a X% share of total exports. Moreover, hot-rolled non-alloy steel wire rod exports to Finland exceeded the volume sent to the second major destination, Latvia (X tons), eightfold.

From 2012 to 2023, the average annual rate of growth in terms of volume to Finland stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Lithuania (X% per year).

In value terms, Finland ($X) remains the key foreign market for hot-rolled non-alloy steel wire rods exports from Estonia, comprising X% of total exports. The second position in the ranking was taken by Latvia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value to Finland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Lithuania (X% per year).

Export Prices by Country

The average export price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2023, shrinking by X% against the previous year. In general, export price indicated a tangible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2022, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Latvia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports into Estonia

In 2023, supplies from abroad of hot-rolled non-alloy steel wire rods increased by X% to X tons, rising for the eighth year in a row after two years of decline. Overall, imports recorded a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports hit record highs in 2023 and are likely to see steady growth in the near future.

In value terms, hot-rolled non-alloy steel wire rod imports rose sharply to $X in 2023. Over the period under review, imports enjoyed a significant increase. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked in 2023 and are expected to retain growth in the near future.

Imports by Country

Spain (X tons), Algeria (X tons) and Norway (X tons) were the main suppliers of hot-rolled non-alloy steel wire rod imports to Estonia, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Norway (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled non-alloy steel wire rod suppliers to Estonia were Spain ($X), Algeria ($X) and Norway ($X), together accounting for X% of total imports.

Norway, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the import price recorded a perceptible setback. 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 at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from Turkey ($X per ton) and Poland ($X per ton), while the price for Ukraine ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Belarus (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform