Kazakhstan copper and gold output rise but steel falls in Jan-April

Data from the State Statistics Agency said that Kazakhstan's refined copper and gold output rose in January-April YoY, while crude steel output plunged in the same period

 Production of refined copper rose 12.1% to 120,576 tonnes in the first four months of this year, while refined gold output advanced 12.3% to 7.6 tonnes. The central bank is purchasing all of the gold refined in Kazakhstan.

 Production of crude steel plunged by 22.0% to 1.06 million tonnes.

 Kazakhmys and ENRC, as well as Glencore-controlled Kazzinc, account for a large part of Kazakhstan's metals production. ArcelorMittal owns the country's only major steel plant.

 The steel plant in Temirtau faced a sudden shock to demand in 2012 when Western financial sanctions on Iran closed the door on a market that accounted for a considerable portion of its sales last year.