Steppe Cement Ltd sold 850,424t of cement in the 1H25, representing an 18.2 per cent increase from the 719,294t sold in the same period last year. The Kazakhstan-based cement producer reported revenue of KZT20,717m (US$40m) for the period, up 35 per cent from KZT15,343m in the 1H24.
The average delivered price was KZT24,361/t (US$47.60/t), excluding VAT, compared to KZT21,331/t in the 1H24. Ex-factory prices rose to KZT21,126/t from KZT18,873/t in the comparable period.
The company noted that rising transportation and utility costs, particularly electricity, have prompted a focus on markets closer to its production facilities. Improved production levels have partially offset these increased expenses.
Domestic market
Kazakhstan’s domestic cement market grew by 21 per cent in the first half of 2025, driven by favourable weather conditions and increased housing construction in the southern regions. The western regions also saw growth due to continued investment in the oil industry, while growth in the central region was more moderate.
Steppe Cement’s market share stood at 13 per cent for the 1H25, a slight decrease of 0.6 per cent from the previous year. The company estimates the total market size will reach between 12-13Mt of cement by year-end.
