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ALMATY - Steppe Cement Ltd sold 850,424 tonnes of cement in the first half of 2025, representing an 18.2% increase from the 719,294 tonnes sold in the same period last year, according to a trading update released Monday.
The Kazakhstan-based cement producer reported revenue of KZT 20,717 million (approximately $40 million) for the period, up 35% from KZT 15,343 million (approximately $34 million) in the first half of 2024.
The average delivered price was KZT 24,361 ($47.6) per tonne, excluding VAT, compared to KZT 21,331 ($48) per tonne in the first half of 2024. Ex-factory prices rose to KZT 21,126 ($41.3) per tonne from KZT 18,873 ($42) per tonne in the comparable period.
The company noted that rising transportation and utility costs, particularly electricity, have prompted a focus on markets closer to its production facilities. Improved production levels have partially offset these increased expenses.
Kazakhstan’s domestic cement market grew by 21% in the first half of 2025, driven by favorable weather conditions and increased housing construction in the southern regions. The western regions also saw growth due to continued investment in the oil industry, while growth in the central region was more moderate.
Steppe Cement’s market share stood at 13% for the first half of 2025, a slight decrease of 0.6% from the previous year. The company estimates the total market size will reach between 12 and 13 million tonnes of cement by year-end.
The trading update also noted that a new cement plant with approximately 1.5 million tonnes of production capacity launched in the Zhambyl region in May 2025, while construction has begun on one of two planned cement plants in the Aktobe region.
Kazakhstan’s inflation rate reached 11.3% in the first half of 2025, up from 8.4% in the same period of 2024, with the national bank’s base interest rate at 16.5%, compared to 14.5% a year earlier.
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