Lithuania: Market for Raw Steel And Steel Semi-Finished Products 2024

Market Size for Raw Steel And Steel Semi-Finished Products in Lithuania

The Lithuanian market for raw steel and steel semi-finished products surged to $X in 2022, growing by X% against the previous year. In general, consumption, however, recorded a noticeable decline. Consumption of peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Raw Steel And Steel Semi-Finished Products in Lithuania

In value terms, production of raw steel and steel semi-finished products soared to $X in 2022 estimated in export price. Over the period under review, production recorded a significant increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Lithuania

In 2022, overseas shipments of raw steel and steel semi-finished products were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of raw steel and steel semi-finished products totaled $X in 2022. Over the period under review, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The UK (X tons), Sweden (X tons) and Latvia (X tons) were the main destinations of exports of raw steel and steel semi-finished products from Lithuania, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X) remains the key foreign market for raw steel and steel semi-finished products exports from Lithuania, comprising X% of total exports. The second position in the ranking was taken by the UK ($X), with a X% share of total exports. It was followed by Russia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Sweden stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Russia (X% per year).

Export Prices by Country

The average export price for raw steel and steel semi-finished products stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the export price, however, posted resilient growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Poland ($X 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 the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Lithuania

In 2022, purchases abroad of raw steel and steel semi-finished products was finally on the rise to reach X tons after two years of decline. Overall, imports, however, recorded a deep downturn. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of raw steel and steel semi-finished products soared to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Norway (X tons) constituted the largest raw steel and steel semi-finished products supplier to Lithuania, accounting for a X% share of total imports. Moreover, imports of raw steel and steel semi-finished products from Norway exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Norway amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Germany (X% per year).

In value terms, Poland ($X), Norway ($X) and Latvia ($X) appeared to be the largest raw steel and steel semi-finished products suppliers to Lithuania, with a combined X% share of total imports.

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

Import Prices by Country

In 2022, the average import price for raw steel and steel semi-finished products amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price, however, saw a strong expansion. The most prominent rate of growth was recorded in 2015 when the average import price increased by X%. The import price peaked at $X per ton in 2021, and then dropped rapidly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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