Latvia: Cold-Rolled Steel Products Market 2024

Cold-Rolled Steel Products Market Size in Latvia

In 2023, the Latvian cold-rolled steel products market decreased by X% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption showed mild growth. Cold-rolled steel products consumption peaked at $X in 2015; however, from 2016 to 2023, consumption remained at a lower figure.

Cold-Rolled Steel Products Exports

Exports from Latvia

In 2023, overseas shipments of flat-rolled products of iron or steel (not further worked than cold-rolled) decreased by X% to X tons, falling for the eighth year in a row after four years of growth. Overall, exports faced a dramatic shrinkage. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The exports peaked at X tons in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

In value terms, cold-rolled steel products exports declined dramatically to $X in 2023. Over the period under review, exports faced a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for cold-rolled steel products exports from Latvia, with a X% share of total exports. Moreover, cold-rolled steel products exports to the Netherlands exceeded the volume sent to the second major destination, Lithuania (X tons), twofold. Estonia (X tons) ranked third in terms of total exports with an X% share.

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

In value terms, the Netherlands ($X), Turkey ($X) and Lithuania ($X) appeared to be the largest markets for cold-rolled steel products exported from Latvia worldwide, together comprising X% of total exports.

In terms of the main countries of destination, Turkey, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average cold-rolled steel products export price amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2022, and then fell in the following year.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Sweden ($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 Finland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cold-Rolled Steel Products Imports

Imports into Latvia

Cold-rolled steel products imports into Latvia expanded modestly to X tons in 2023, rising by X% on 2022. Overall, imports, however, faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2023, imports remained at a lower figure.

In value terms, cold-rolled steel products imports contracted remarkably to $X in 2023. Over the period under review, imports, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Lithuania (X tons) constituted the largest supplier of cold-rolled steel products to Latvia, accounting for a X% share of total imports. Moreover, cold-rolled steel products imports from Lithuania exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. Sweden (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Lithuania amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Sweden (X% per year).

In value terms, the largest cold-rolled steel products suppliers to Latvia were Poland ($X), Lithuania ($X) and Sweden ($X), with a combined X% share of total imports. Turkey, Denmark, Finland, Estonia, Slovakia, Russia and China lagged somewhat behind, together accounting for a further X%.

Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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 cold-rolled steel products import price stood at $X per ton in 2023, dropping by X% against the previous year. Over the period under review, the import price, however, recorded a measured expansion. The most prominent rate of growth was recorded in 2021 an increase of X%. The import price peaked at $X per ton in 2022, and then fell remarkably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform