Kazakhstan increased steel production by 16.4% y/y in 2023

In 2023, Kazakhstan’s steel enterprises increased steel production by 16.4% compared to 2022, to 3.92 million tons. This is evidenced by data from the Statistical Committee of the Ministry of Economy of Kazakhstan, Kallanish reports.

Last December, the country’s steelmakers produced 354.79 kt of steel, up 13.6% compared to November and 58.2% compared to December 2022.

Flat products production in December increased by 9.7% m/m, but decreased by 13.1% y/y – to 195.99 thousand tons. In 2023, flat products output fell by 3.6% y/y – to 2.45 million tons.

In December 2023, ferroalloy enterprises of Kazakhstan produced 155.3 thousand tons of products, which is 11% less than in the previous month and 3.4% y/y. In January-December ferroalloy production decreased by 3.6% y/y – to 2.01 million tons.

Last December, ArcelorMittal completed the sale of its assets in Kazakhstan to Qazaqstan Investment Corporation. QIC acquired all the shares in ArcelorMittal Temirtau and ArcelorMittal Tubular Products Aktau. Qazaqstan Steel Group and its founder Andrey Lavrentiev became the new investor. ArcelorMittal Temirtau was later renamed Qarmet.

In addition to the acquisition of assets, the Kazakh investor has pledged to invest another $3 billion in modernizing production and protecting the region’s environment, with $1.3 billion to be invested in 2024.

In 2022, Temirtau recorded the best result in rebar production over the past 14 years. It produced 436 thousand tons and shipped 427 thousand tons. The plant also produces hot-rolled and cold-rolled coils, as well as coated coils.

As GMK Center reported earlier, in 2022, Kazakhstan reduced steel production by 8.5% year-on-year – to 4.13 million tons. In the same period, flat products production decreased by 15.1% year-on-year – to 2.5 million tons.