23
Aug
16:05
Tenaris sees Q4 Middle East rebound, pricing pressure
Tenaris expects a reduction in Middle Eastern sales in the third quarter, but then a rebound in shipments and capacity utilisation in Q4. Pricing in the region remains under pressure due to intense competition.
Tenaris’ Middle East and Africa segment tube sales declined -21% on-year in the first half of 2016 to $515 million. However, this eased from a -24% on-year drop in the first quarter, and was the mildest decline of any of the firm’s regions.
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Anonymous
Very good overview of the weekly steel market.
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