Kazakhstan increased steel production by 22.6% y/y in November

In January-November, the country's steelmakers increased steel output by 13.4% y/y

In November 2023, Kazakhstan’s steelmakers increased steel production by 22.6% compared to the same period in 2022, to 312.3 thousand tons. This is evidenced by data from the Bureau of National Statistics, Kallanish reports.

In November, Kazakhstan increased steel production by 1.4% compared to October 2023.

In January-November, Kazakhstan’s steelmakers increased steel production by 13.4% year-on-year – to 3.56 million tons.

In November, the country’s steelmakers reduced the production of flat products by 11.4% m/m and by 13.3% y/y – to 175.02 thousand tons. In January-November, this indicator was 2.26 million tons, decreasing by 4.1% compared to the same period of 2022.

Production of ferroalloys in Kazakhstan decreased by 15% m/m last month and 4% y/y, to 165.35 thousand tons. In January-November, the indicator was 1.86 million tons (-3% y/y).

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.

As GMK Center reported earlier, ArcelorMittal recently completed the sales process of the Kazakh steel and mining enterprise Temirtau. The buyer was Qazaqstan Investment Corporation (QIC), which is controlled by the state direct investment fund.

Later, the ownership will be transferred to the new investor Qazaqstan Steel Group and its founder Andrii Lavrentiev. ArcelorMittal Temirtau is renamed in Qarmet.

In addition to the purchase of assets, the Kazakh investor is obliged to invest another $3 billion in the modernization of production and environmental protection in the region, of which $1.3 billion will be invested next year.

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.