Armenia`s metallurgical industry increased production volumes by 37%  in first 2 months

ArmInfo. Metallurgical industry of Armenia increased production volumes by 37% per annum in Jan-Fe  2024 (versus a 31% decline a year earlier). This is evidenced by the data of the RA Statistical Committee.

In particular, the production of copper concentrate increased by  52.7% in Armenia (from a 36.1% decline a year earlier), amounting to  52.6 thousand tons.

The production of zinc concentrate also turned its y-o-y dynamics  from a 17.3% decline towards a 5.2% increase, amounting to 1.607  thousand tons.

The volume of molybdenum concentrate produced in the country  increased by 5.7% (against a 15.9% decline a year earlier), exceeding  3,081 thousand tons.

The production of ferromolybdenum accelerated in a y-o-y decline from  20% to 42%, amounting to 778.2 tons.

Aluminum foil production significantly accelerated the rate of  y-o-y  decline from 8.1% to 36.1%, amounting to 3,163 thousand tons.

Production of steel pipes, hollow sections and fittings accelerated  in  y-o-y growth from 15.6% to 60.9%, amounting to 3,236 thousand  tons.

All metals produced in Armenia are exported, mainly to Europe and the  USA.

Notably, in 2023 the metallurgical industry of Armenia slowed down in  decline from 11% to 5%. Such dynamics were provoked by a decrease in  production volumes of aluminum foil and ferromolybdenum, zinc and  copper concentrates.