News Global Market export 562 19 November 2024
The ban will last six months and is aimed at the development of domestic steel production
Starting December 1, 2024, Kazakhstan will ban the export of steel billets and semi-finished products. The Minister of Industry and Construction signed the relevant order No. 389 on November 11. The restriction will be in effect for six months and applies to the transportation of billets (HS 7206) and semi-finished products (HS 7207) by all modes of transport, Kallanish reports.
The aim of the ban is to stimulate the production of steel products with higher added value in the country. The authorities aim to strengthen the steel industry, in particular by creating conditions for the production of finished products. At the same time, on November 2, Kazakhstan extended the ban on exports of ferrous and non-ferrous scrap for another six months.
Exports of semi-finished steel products played a significant role in Kazakhstan’s trade. For example, in January-September 2024, the country supplied 11.29 thousand tons of billets and 130.32 thousand tons of pig iron to Turkey. However, the priority now is to develop domestic production and stimulate the processing of steel products at local enterprises.
This decision is part of Kazakhstan’s strategy to support the steel sector and increase its share in the country’s GDP. Such measures are expected to help create new jobs and increase value added in the industry.
As GMK Center reported earlier, in January-September 2024, Kazakhstan increased steel production by 10% compared to the same period in 2023, to 3.15 million tons. Production of flat products increased by 21.2% y/y – to 2.26 million tons.
In 2023, Kazakhstan increased steel production by 16.4% year-on-year – to 3.92 million tons. Production of flat products in the period fell by 3.6% compared to 2022, to 2.45 million tons. Ferroalloy production last year decreased by 3.6% y/y – to 2.01 million tons.
