The steel industry in Kazakhstan increased its steel production by 9.5% in 2024 compared to 2023, reaching 4.17 million tons, according to the Statistical Committee of the Ministry of Economy of Kazakhstan. Production of flat products rose by 18.2% year-on-year to 2.9 million tons. In December, Kazakhstan's metallurgists produced 326.08 thousand tons of steel, up 12.3% month-on-month and 5.8% year-on-year, while rolled steel output for the month increased by 4.6% month-on-month and 14.4% year-on-year.
Qarmet Iron and Steel Works exceeded its production targets for pig iron by 15%, steel by 15%, coke by 18%, sinter by 12%, and long products by 17% in 2024. In December 2024, Qarmet's steel production reached 318.8 thousand tons, a 35.7% increase compared to December 2023.
The improved performance of Qarmet has positively impacted overall production. The company plans to produce 3.7 million tons of steel in 2025. In January-October 2024, the plant produced 3 million tons of steel, matching the annual production volume of 2023.
Qarmet and China's Xinxing Ductile Iron Pipes Co recently agreed to build a cast iron pipe plant in Kazakhstan with a projected capacity of 200 thousand tons per year and a total investment of $161 million. Qarmet also signed a $1 billion agreement with China Metallurgical Group for long-term cooperation in the mining and metals industry.
In 2023, Kazakhstan increased steel production by 16.4% year-on-year to 3.92 million tons, while production of flat products fell by 3.6% compared to 2022, totaling 2.45 million tons.
