Up to 5% growth of the Materials sector forecasted in Kazakhstan - research

Date: 11:18, 24-09-2020.

Almaty. September 24. KazTAG -  Up to 5% growth of the Materials sector is forecasted in the economy of Kazakhstan, said Murat Akinov, chairman ofBoard of JSC Centras Securities .
"5% growth is forecasted in the Materials sector of Kazakhstan's economy," said Akinov, speaking with an analytical review of the largest 500 companies in Kazakhstan at the Kazakhstan Growth Forum on Wednesday.
In his words, the main support for the raw materials sector can be provided by a noticeable increase in prices for gold and uranium since the beginning of the year, positive dynamics of copper and zinc in 2020 and recovery of the Chinese economy.
"There has been noticeable rise in prices for gold and uranium since the beginning of the year - by 25%. The country mines both gold and uranium from us. Kazatomprom is one of the largest players in this market. These commodities have shown an upward trend since the beginning of the year, ” he said.
According to him, the dynamics of copper and zinc in the current year is positive.
“There was decline in the spring, but the price bounced back sharply. In general, the prices are positive," he said.
The recovery of the Chinese economy to 11.5% growth in the II quarter, according to him, and a positive index of business activity will also have a positive impact on the Materials sector.

Photo source: picture from an open source

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