Kazakhstan’s Steel Production Trends in 2024

In August 2024, Kazakhstan’s metallurgical enterprises recorded a 7.3% year-on-year increase in steel production, reaching 341,940 tons. This growth reflects the ongoing expansion of the nation’s steel industry, with key players boosting output.

However, production dipped slightly by 3.6% compared to July 2024, indicating some monthly volatility. Flat product production for August totaled 190,770 tons, marking a significant 23.4% decrease month-on-month and a 13.7% drop compared to August 2023.

From January to August 2024, Kazakhstan’s total steel production rose by 9.4%, reaching 2.78 million tons. During this period, flat product output surged by 24% year-on-year to 2.03 million tons, highlighting the country’s growing metallurgical capacity.

In 2023, Kazakhstan increased its annual steel production by 16.4%, reaching 3.92 million tons. Despite this increase, flat product production declined by 3.6%, totaling 2.45 million tons.

Looking ahead, Qarmet, a key steel producer in Kazakhstan, plans to boost its production in 2024. The company aims to raise steel output to 3.5 million tons, up from 2.9 million tons in 2023. Qarmet also expects to expand its iron ore concentrate production by 10%, while coal production is projected to decrease by 2%.

Qarmet, formerly known as ArcelorMittal Temirtau, came under new ownership last December when Qazaqstan Investment Corporation (QIC) acquired ArcelorMittal’s assets in Kazakhstan. As part of this acquisition, QIC pledged a $3 billion investment to modernize production facilities and enhance environmental protections, with $1.3 billion allocated for 2024.