Kazakhstan increased steel production by 9.5% y/y in 2024

The steel industry of Kazakhstan increased steel production by 9.5% in 2024 compared to 2023, up to 4.17 million tons. This is evidenced by data from the Statistical Committee of the Ministry of Economy of Kazakhstan, Kallanish reports.

Last year, flat products production increased by 18.2% compared to 2023, to 2.9 million tons. In December, Kazakhstan’s metallurgists produced 326.08 thousand tons of steel, up 12.3% m/m and 5.8% y/y. Rolled steel output for the month increased by 4.6% m/m and 14.4% y/y.

In 2024, Qarmet Iron and Steel Works of Kazakhstan exceeded its production targets for pig iron by 15%, steel – by 15%, coke – by 18%, sinter – by 12%, and in the long products shop – by 17%. In December 2024, steel production amounted to 318.8 thousand tons, up 35.7% compared to December 2023.

The improved performance of the country’s key steelmaker has a positive impact on overall production. Qarmet plans to produce 3.7 million tons of steel in 2025. In January-October 2024, the plant produced 3 million tons of steel, which is equal to the annual production volume of 2023 (about 400 thousand tons in October).

Recently, Qarmet and China’s Xinxing Ductile Iron Pipes Co agreed to build a cast iron pipe plant in Kazakhstan. The projected capacity of the plant will be 200 thousand tons per year, and the total investment will be $161 million.

Qarmet has also signed a $1 billion agreement with China Metallurgical Group to establish long-term and comprehensive cooperation in the mining and metals industry.

In 2023, Kazakhstan increased steel production by 16.4% year-on-year – to 3.92 million tons. Production of flat products in the same period fell by 3.6% compared to 2022, to 2.45 million tons.