Steel Mills
April 29, 2021
Tenaris: Pipe Outlook is Improving
Written by Sandy Williams
Steel tube producer Tenaris saw global sales increase 5% sequentially to $1.18 billion in the first quarter of 2021, but results were still down 33% year-over-year. An 8% increase in volumes was offset by a 5% decrease in selling prices.
Sales jumped 31% in North America as drilling activity picked up during the first quarter. Drilling activity in Canada is subject to seasonality but is currently higher than it was a year ago. Drilling has hit bottom in the Eastern hemisphere, said Tenaris, but is expected to improve later this year.
