Armenia's metallurgical industry is experiencing steady growth following last year’s decline. According to the country's Statistical Committee, the sector grew by 2% from January to November 2024 compared to the same period last year, which saw a 7% downturn.
The primary driver of this growth was copper concentrate production, which reached 280.8 thousand tons, up by 6.6% year-on-year. Zinc concentrate production demonstrated even more impressive growth, surging by 29.3% to 9.5 thousand tons. Steel pipe production also maintained positive momentum, though growth slowed to 17.5%, resulting in an output of 22.9 thousand tons.
However, not all segments of the industry reported positive results. According to Finport.am, molybdenum concentrate production fell by 26% to 15.8 thousand tons, while ferromolybdenum output dropped by 42.7%, totaling just over 4 thousand tons. Aluminum foil production continued its downward trend, with a 23.7% decline to 18.1 thousand tons.
Export data from the first half of 2024 shows robust growth in shipments of key metallurgical products. Copper concentrate exports rose by 14.5% to 168.4 thousand tons, generating $267.6 million in revenue. Major importers included China (71.6%), Bulgaria (13.9%), and Serbia (5.6%). Zinc concentrate exports to Belgium increased by 17.7%, reaching 5 thousand tons and valued at $7.3 million.
Despite a decline in production, molybdenum concentrate exports grew by 49%, reaching 6 thousand tons and generating $112.5 million. Key buyers included Belgium (35.5%), Russia (17.3%), and Hong Kong (12.2%). In contrast, aluminum foil exports decreased by 22.8% to 10.1 thousand tons, with export revenue falling by 35.9% to $31.6 million. The primary destinations for foil exports were European countries, with Germany (21.4%) and Poland (20.9%) leading the list.
