In November 2024, Kazakhstan’s steel enterprises produced 322,000 tons of steel, marking a 6.4% month-on-month (m/m) decline, according to data from the Statistical Committee of the Ministry of Economy, as reported by Kallanish. However, on a year-on-year (y/y) basis, steel production rose by 4.2% compared to November 2023.
Production of Flat Products Declines
Flat products production in November totaled 205,000 tons, representing a 3.8% drop compared to October 2024 and a significant 17.7% decline year-on-year. Despite this monthly decrease, overall steel output trends for the year remain strong.
Year-to-Date Steel Production Shows Growth
Between January and November 2024, Kazakhstan increased its steel production by 10% y/y, producing a total of 3.8 million tons. Flat products output during the same period rose by an impressive 18.6% to reach 2.67 million tons.
Looking back at 2023, Kazakhstan achieved a 16.4% y/y growth in steel production, reaching 3.92 million tons. However, flat products production declined by 3.6% compared to 2022, totaling 2.45 million tons.
Qarmet Steel Plant Leads the Way
The Qarmet steel plant, one of Kazakhstan’s key steel producers, produced 3 million tons of steel in the first 10 months of 2024. The plant aims to increase its annual steel output to 3.5 million tons by the end of 2024, up from 2.9 million tons in 2023. Additionally, the facility plans to raise iron ore concentrate production by 10% to 10 million tons. However, coal production is expected to decline by 2%.
Investments in Modernization and Environmental Protection
Kazakhstan’s steel industry is also benefiting from substantial investments aimed at modernizing production and addressing environmental concerns. A Kazakh investor has committed $3 billion toward these initiatives, with $1.3 billion earmarked for 2024 alone. These investments are expected to strengthen Kazakhstan’s steel sector while enhancing sustainability practices in the region.
Kazakhstan’s steel industry continues to demonstrate resilience and growth, despite short-term fluctuations in production. The sector’s ongoing investments and modernization efforts signal a commitment to long-term development and environmental responsibility.
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