06
Nov
15:50
Tenaris anticipates slow recovery after third-quarter drilling trough
Tenaris reported a -13% on-quarter and -39% on-year drop in shipments in the third quarter to 482,000 tonnes. The firm anticipates a gradual recovery in sales and margins throughout Q4 and into 2021, Kallanish notes.
Seamless pipe sales fell -14% on-quarter and -41% on-year in Q3 to 383,000t, while welded pipe sales were down -9% on-quarter and -34% on-year to 99,000t.
Net sales dropped -18% on-quarter and -43% on-year in Q3 to $1.01 billion as drilling acti…
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Anonymous
Very good overview of the weekly steel market.
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