In the month, the country's steel mills produced 292.87 thousand tons of steel
In January 2024, Kazakhstan's steel companies reduced steel production by 18.7% compared to December 2023, to 292.87 thousand tons. This is evidenced by data from the Statistical Committee of the Ministry of Economy of Kazakhstan, Kallanish reports.
Compared to January 2023, the steel production of Kazakhstan's steel mills decreased by 8.9% per year.
Production of flat products in January was 189.1 thousand tons. This corresponds to the level of December last year and is 17.6% lower than that of January 2023.
Kazakhstan's ferroalloy enterprises produced 181.38 thousand tons of products in January, an increase of 27.4% m/m and 27.4% y/y.
Last December, ArcelorMittal completed the sale of its assets in Kazakhstan to Qazaqstan Investment Corporation. QIC acquired all 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 acquiring the assets, the Kazakh investor committed to investing a further US$3 billion in modernizing production and protecting the region's environment, with US$1.3 billion to be invested in 2024.
In 2022, Temirtau recorded the best result in rebar production in the last 14 years. It produced 436 thousand tons and shipped 427 thousand tons. The plant also produces hot and cold rolled coils, as well as coated coils.
As Compraço previously reported, in 2023, Kazakhstan increased steel production by 16.4% compared to the previous year – to 3.92 million tons. In the same period, the production of flat products decreased by 3.6% year-on-year – to 2.45 million tonnes.
