Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in Latvia - 2023

Contents:

1. Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in Latvia (FOB) - 2022
2. Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in Latvia (CIF) - 2023
3. Exports of Ferrous Waste and Scrap; of Tinned Iron or Steel in Latvia
4. Imports of Ferrous Waste and Scrap; of Tinned Iron or Steel in Latvia

Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in Latvia (FOB) - 2022

In 2022, the average export price for ferrous waste and scrap; of tinned iron or steels amounted to $391 per ton, with a decrease of -8.3% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 62% against the previous year. The export price peaked at $668 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Estonia.

From 2012 to 2022, the rate of growth in terms of prices for Slovakia amounted to +115.0% per year.

Price for Ferrous Waste and Scrap; of Tinned Iron or Steel in Latvia (CIF) - 2023

The average import price for ferrous waste and scrap; of tinned iron or steels stood at $346 per ton in November 2023, stabilizing at the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 8.8% against the previous month. The import price peaked at $402 per ton in April 2023; however, from May 2023 to November 2023, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In November 2023, the country with the highest price was Lithuania ($349 per ton), while the price for Estonia totaled $331 per ton.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Estonia (+0.3%).

Exports of Ferrous Waste and Scrap; of Tinned Iron or Steel in Latvia

In 2022, after three years of growth, there was significant decline in shipments abroad of ferrous waste and scrap; of tinned iron or steels, when their volume decreased by -5.6% to 29K tons. Overall, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 723% against the previous year.

In value terms, exports of ferrous waste and scrap; of tinned iron or steels reduced to $12M in 2022. In general, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 531%.

Top Export Markets for Ferrous Waste and Scrap; of Tinned Iron or Steel from Latvia in 2022:

1. Estonia (29.5K tons)

Imports of Ferrous Waste and Scrap; of Tinned Iron or Steel in Latvia

In 2022, purchases abroad of ferrous waste and scrap; of tinned iron or steels decreased by -1.4% to 9K tons for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 235% against the previous year.

In value terms, imports of ferrous waste and scrap; of tinned iron or steels rose notably to $3.6M in 2022. In general, imports, however, posted a significant increase. The growth pace was the most rapid in 2020 with an increase of 119% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.

Top Suppliers of Ferrous Waste and Scrap; of Tinned Iron or Steel to Latvia in 2022:

1. Finland (4.8K tons)
2. Estonia (3.7K tons)
3. Lithuania (0.5K tons)

Source: IndexBox Market Intelligence Platform