Steppe Cement reports lower volumes in 1H23

Kazakhstan-based Steppe Cement Ltd has reported sales volumes of 749,034t of cement in the first half of 2023, down from 837,063t in the same period a year earlier. Revenue over the same period fell from KZT19,579m (US$44.09m) to KZT16,977m. The average price for delivered cement over the 1H23 stood at KZT22,665/t (ex-VAT), compared to KZT23,391/t in the first half of 2022. The ex-factory price over the same period declined from KZT20,485/t to KZT19,205/t. 

The cement market in Kazakhstan contracted by 5.6 per cent YoY in the 1H23, reports Regulatory News Service. Exports from Kazakhstan were in line with the previous year at 0.55Mt. According to Steppe Cement, in the opening quarter of 2023 the company maintained prices at the expense of volumes. In the second quarter it opted to recover market share at the expense of pricing and ended the 1H23 with a market share of 14.1 per cent.