Latvia: Pig Iron Market 2020

Pig Iron Market Size in Latvia

The revenue of the pig iron market in Latvia amounted to $X in 2018, coming down by -X% against the previous year. Overall, pig iron consumption continues to indicate a significant curtailment. The growth pace was the most rapid in 2011 with an increase of X% year-to-year. In that year, the pig iron market reached its peak level of $X. From 2012 to 2018, the growth of the pig iron market failed to regain its momentum.

Pig Iron Production in Latvia

In value terms, pig iron production totaled $X in 2018 estimated in export prices. Overall, pig iron production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 with an increase of X% against the previous year. In that year, pig iron production reached its peak level of $X. From 2012 to 2018, pig iron production growth remained at a lower figure.

Pig Iron Exports

Exports from Latvia

Pig iron exports from Latvia totaled X tons in 2018, rising by X% against the previous year. In general, pig iron exports continue to indicate an outstanding expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X% year-to-year. In that year, pig iron exports attained their peak and are likely to continue its growth in the immediate term.

In value terms, pig iron exports stood at $X in 2018. Overall, pig iron exports continue to indicate an extraordinary increase. The growth pace was the most rapid in 2018 when exports increased by X% year-to-year. In that year, pig iron exports attained their peak and are likely to continue its growth in the immediate term.

Exports by Country

Russia was the key exporter of pig iron and spiegeleisen in the world, with the volume of exports recording X tons, which was approx. X% of total exports in 2018. Ukraine (X tons) ranks second in terms of the total exports with a X% share, followed by Brazil (X%) and India (X%). The following exporters - South Africa (X tons), China (X tons) and Germany (X tons) - together made up X% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Latvia (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the largest pig iron supplier from Latvia, comprising X% of global exports. The second position in the ranking was occupied by Ukraine ($X), with a X% share of global exports. It was followed by Brazil, with a X% share.

From 2007 to 2018, the average annual growth rate of value in Russia amounted to +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Ukraine (+X% per year) and Brazil (-X% per year).

Export Prices by Country

In 2018, the pig iron export price in Latvia amounted to $X per ton, dropping by -X% against the previous year. Over the period under review, the export price indicated a mild expansion from 2007 to 2018: 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. Based on 2018 figures, pig iron export price decreased by -X% against 2013 indices. The most prominent rate of growth was recorded in 2013 an increase of X% y-o-y. In that year, the export prices for pig iron and spiegeleisen attained their peak level of $X per ton. From 2014 to 2018, the growth in terms of the export prices for pig iron and spiegeleisen failed to regain its momentum.

Average prices varied noticeably amongst the major exporting countries. In 2018, major exporting countries recorded the following prices: in South Africa ($X per ton) and Russia ($X per ton), while China ($X per ton) and India ($X per ton) were amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Russia, while the other leaders experienced more modest paces of growth.

Pig Iron Imports

Imports into Latvia

In 2018, the pig iron imports into Latvia stood at X tons, rising by X% against the previous year. Over the period under review, pig iron imports, however, continue to indicate a drastic slump. The most prominent rate of growth was recorded in 2018 when imports increased by X% y-o-y. Latvia imports peaked at X tons in 2012; however, from 2013 to 2018, imports stood at a somewhat lower figure.

In value terms, pig iron imports totaled $X in 2018. Overall, pig iron imports, however, continue to indicate an abrupt drop. The most prominent rate of growth was recorded in 2018 when imports increased by X% year-to-year. Latvia imports peaked at $X in 2012; however, from 2013 to 2018, imports stood at a somewhat lower figure.

Imports by Country

In 2018, the U.S. (X tons) represented the key importer of pig iron and spiegeleisen, creating X% of total imports. Italy (X tons) ranks second in terms of the total imports with a X% share, followed by Turkey (X%). The following importers - Germany (X tons), Mexico (X tons), Taiwan, Chinese (X tons), Thailand (X tons), Spain (X tons), the Netherlands (X tons), Poland (X tons) and Belgium (X tons) - together made up X% of total imports.

Imports into the U.S. increased at an average annual rate of +X% from 2007 to 2018. At the same time, Mexico (+X%), the Netherlands (+X%), Turkey (+X%) and Poland (+X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. By contrast, Italy (-X%), Germany (-X%), Spain (-X%), Belgium (-X%), Taiwan, Chinese (-X%) and Thailand (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of the U.S., Turkey and Mexico increased by +X%, +X% and +X% percentage points, while Belgium (-X p.p.), Spain (-X p.p.), Taiwan, Chinese (-X p.p.), Thailand (-X p.p.) and Italy (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported pig iron and spiegeleisen into Latvia, comprising X% of global imports. The second position in the ranking was occupied by Italy ($X), with a X% share of global imports. It was followed by Turkey, with a X% share.

In the U.S., pig iron imports expanded at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Italy (-X% per year) and Turkey (+X% per year).

Import Prices by Country

The pig iron import price in Latvia stood at $X per ton in 2018, coming down by -X% against the previous year. Over the period under review, the pig iron import price continues to indicate a deep slump. The pace of growth was the most pronounced in 2015 when the import price increased by X% against the previous year. Latvia import price peaked at $X per ton in 2007; however, from 2008 to 2018, import prices failed to regain their momentum.

Prices varied noticeably by the country of destination; the country with the highest price was the Netherlands ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform