Kazakhstan increased steel production by 10.5% y/y in July

Compared to June, steel production fell by 6.1%

In July 2023, Kazakhstan’s steelmakers increased steel production by 10.5% y/y – up to 322,22 thousand tons. This is evidenced by the data of the Bureau of National Statistics, reports Kallanish.

Compared to June 2023, steel production in the country fell by 6.1%.

In January-July 2023, steel production in Kazakhstan increased by 12.6% compared to the same period in 2022 – up to 2.29 million tons.

In July 2023, the country’s steelmakers reduced the production of flat products by 8.8% y/y – to 209.6 thousand tons. In January-July, this indicator was 1.42 million tons, decreasing by 4.5% compared to the same period of 2022.

In 2022, Kazakhstan reduced production of steel by 8.5% year-on-year – to 4.13 million tons. The production of flat rolled products in this period fell by 15.1% compared to 2021 – to 2.5 million tons.

In January 2023, the country’s government announced that it would support development of steel industry and is ready to implement constructive business proposals. In 2022, the industry launched 19 new investment projects worth 232 billion tenge (over $502 million).

As GMK Center reported earlier, Kazakhstan intends for another six months to extend the ban for scrap export. The committee of the Ministry of Industry and Infrastructure Development of the country placed the relevant draft of the order for public discussion. The ban will cover the export of scrap and waste of non-ferrous metals, as well as the export of scrap and waste of ferrous metals by road and sea transport.