Steppe Cement reported a 15 per cent decline in volumes for the first half of 2017 while turnover was up by four per cent over the same period as the Kazakhstan-based producer focussed on pricing.

In a market update for the first half of the year published on Monday, the company said sales volumes fell to 650,333t from 761,777t a year earlier. Meanwhile, turnover reached KZT8553m (US$26.2m) versus KZT8190m in 1H16.

The average price for delivered cement in the 1H17 increased to KZT13,151/t compared with KZT10,751/t in the comparative period of 2016. The ex-factory price was KZT11,147/t in 1H17 against KZT8781/t in 1H16.

Steppe Cement’s market share declined to 15 per cent in 1H17 from 18 per cent a year earlier. Exports amounted to 11 per cent of its sales compared to four per cent in 2016.

The company noted that the domestic market contracted by one per cent in the period under review. However, overall shipments from local companies increased by five per cent YoY as imports (which represent six per cent of the local market), remains flat and exports more than doubled again from 160,000t to 450,000t due to favourable exchange rates. The company currently estimates that cement consumption in Kazakhstan will be 9Mt in 2017.