Iron ore production in Kazakhstan increased by 26% in Q1 2024

According to data obtained by SteelRadar from the Kazakhstan National Bureau of Statistics, Kazakhstan's total iron ore production increased by 26% from 10.425 million tonnes in the first quarter of 2023 to 13.138 million tonnes in the first quarter of 2024.

Production increased by 10.6% from 3.638 million tonnes in January 2023 to 4.022 million tonnes in January 2024. This upward trend continued in February, with production increasing by 37.5% to 4.187 million tonnes from 3.045 million tonnes a year earlier. The biggest increase was seen in March. Production rose by 31.7% to 4.929 million tonnes in March 2023 from 3.742 million tonnes in March 2023, while production of 4.187 million tonnes in February 2024 increased by 17.7% compared to the previous month.

Increased exports to Russia and China

Export data show the same trend. In the first quarter of 2024, iron ore exports from Kazakhstan to the key markets of Russia and China increased sharply. Exports to Russia increased by 70.7% to 1.298 million metric tonnes, compared to 760,577 metric tonnes in the same period of 2023.

Exports to China increased by a significant 19.6% to 1.839 million metric tonnes in the first quarter of 2024, compared to 1.538 million metric tonnes in the first quarter of 2023.

A more detailed look at the monthly 2024 export data shows a steady increase in shipments. January exports increased by 20.8% to 875,969 metric tonnes from 725,472 metric tonnes in January 2023. In February, exports reached 935,573 metric tonnes, a strong increase of 131.2% compared to 404,781 metric tonnes in the previous year. In March, exports increased by 17.4% to 1.371 million metric tonnes compared to 1.168 million metric tonnes in March 2023.

The first quarter of 2024 was very productive for Kazakhstan's iron ore sector, with significant growth in both production and exports. Significant production growth and strengthening export performance in key markets such as Russia and China underline Kazakhstan's growing importance in the global iron ore sector.