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Steppe Cement records decline in sales

Kazakhstan: Steppe Cement sold 175,383t of cement for US$8.5m in the first quarter of 2024, down from 214,832t for US$11m in the first quarter of 2023. This represents a year-on-year decline of 18% in volume and 23% in value. Despite the decrease in sales, its production of clinker grew by 25% year-on-year.

Cement sales in Kazakhstan declined by 12% to 1.69Mt in the first quarter of 2024. Exports fell by 6%, mainly due to reduced exports to Uzbekistan. Imports remained level at 4% of domestic demand, with the majority coming from Russia. Steppe Cement anticipates a total market demand of approximately 11Mt in Kazakhstan for 2024, a 5% year-on-year decrease. Rising transport costs and an increased proportion of shipments to southern Kazakhstan resulted in low margins, according to the company.

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