Qarmet Achieves Record Production in 2024: An Overview of the Year’s Successes
Qarmet, the steel giant formerly known as ArcelorMittal Temirtau, had a stellar year in 2024, exceeding its production targets for nearly all of its key products. Under the leadership of CEO Vadim Basin, the company not only met but surpassed expectations across multiple categories, including iron, steel, coke, sinter, and long products. This achievement is even more impressive given the various challenges the global steel industry has faced in recent years.
Key Production Figures for 2024
Qarmet's production achievements in 2024 were remarkable. The company reported that it exceeded its production target for iron by 15%, steel by 15%, coke by 18%, sinter by 12%, and long products by 17%. The December 2024 production alone demonstrated significant growth, with steel production rising to 318.8 thousand metric tons, a 35.7% increase compared to December 2023. This surge in production illustrates Qarmet's improved efficiency and its ability to adapt to market demands.
Monthly and Year-End Performance
In the first ten months of 2024, Qarmet produced 3 million metric tons of steel, matching the total steel production volume for all of 2023. The company had initially set a target of 3.5 million metric tons for the year, and by October, it had already produced around 400 thousand metric tons of steel. Overall, steel product shipments were expected to total 3.2 million metric tons, further solidifying the company's ability to meet high-demand expectations.
Key Strategic Developments in 2024
One of the major accomplishments for Qarmet in 2024 was the significant progress made in its coal mining operations. The company reported the successful completion of 39 kilometers of sinking, a critical aspect of the mining process. In addition, the number of sinking teams working on the project increased dramatically from 11 in 2023 to 51 in 2024, reflecting Qarmet's strengthened commitment to expanding its coal production capacity.
Moreover, Qarmet achieved a significant cost reduction of 18% per ton of slabs compared to the previous year. This cost-cutting measure not only improved the company’s bottom line but also enhanced its competitive edge in a market known for volatile raw material prices.
Looking Ahead: Ambitious Goals for 2025
Qarmet’s business plan for 2025 sets an ambitious target of producing 3.7 million metric tons of steel. This goal represents a continued upward trajectory for the company as it seeks to build on its successes in 2024. A key factor in achieving this goal is Qarmet’s planned transition to natural gas, a significant step toward more sustainable operations. The company is preparing for the first phase of this gasification process, scheduled for implementation in the spring and summer of 2025. This transition to natural gas is seen as a historic achievement for Qarmet, aligning with the industry’s broader push toward reducing carbon emissions and improving energy efficiency.
Future Challenges and Opportunities
While Qarmet has demonstrated impressive growth in 2024, it is not without its challenges. The company’s success has been achieved in the face of a challenging global steel market, which has been impacted by fluctuating demand, geopolitical tensions, and raw material price volatility. Despite these challenges, Qarmet has positioned itself for further success in 2025 by focusing on cost reduction, improved production efficiency, and strategic investments in technology and infrastructure.
Qarmet’s transition to natural gas represents a forward-thinking move that will help the company achieve its environmental goals while maintaining production output. The shift toward greener energy solutions is particularly significant for a company that relies heavily on energy-intensive processes like steel production. This move also signals Qarmet's commitment to sustainability and its determination to reduce its carbon footprint.
Looking Ahead: 2025 and Beyond
With its goal of 3.7 million metric tons of steel for 2025, Qarmet is poised to continue its upward trajectory. The company’s efforts to increase efficiency, reduce costs, and improve sustainability position it well for future growth. As the steel industry continues to face challenges related to environmental regulations, raw material costs, and market volatility, Qarmet’s innovative approach to production and energy consumption will be key to its long-term success.
