Steppe Cement's market share edges up

Kazakhstan-based Steppe Cement sold 281,968t of cement for KZT6.299m in the first quarter of 2022. This brings the company’s market share to 13.7 per cent in the 1Q22 from 13.2 per cent in the 1Q21.

The Kazakh cement market expanded by 12 per cent in the 1Q22 when compared with the equivalent period in 2021. Average prices for delivered cement climbed to KZT22,341/t from KZT21,332/t.

The Kazakhstan posted revenue of KZT6.3bn (US$14m) in the three months ended 31 March 2022 up from KZT4.88bn a year earlier.

Exports from Kazakhstan fell by 50 per cent from 2021 as new factories opened in Uzbekistan, while imports to Kazakhstan increased from 6.5 to eight per cent of the market, mostly from Russia.

Steppe said it currently estimates Kazakhstan's cement market demand will stay at 11-12Mt, but said there is a high degree of uncertainty due to the geopolitical situation.