04
May
01:00
Tenaris sees Middle East shipments rebounding in 2016
Tenaris expects OCTG shipments in the Middle East to remain subdued throughout 2015 before rebounding in 2016 once destocking in Saudi Arabia is completed. The steel tubemaker posted a 41% on-year decline in first-quarter sales in the Middle East and Africa to $314 million due to reduced deepwater drilling activity and inventory adjustments, as well as lower Iraq sales.
Nonetheless drilling activity in the Middle East remains “strong”, most notab…
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Anonymous
Very good overview of the weekly steel market.
Anonymous