Steel pipe producer TMK posted a 17 percent increase in shipments in the second quarter as demand from energy producers increased, it said in a statement Tuesday.
TMK shipped 1.09 million tons of pipes in the three months. That compares with 931,000 tons a year earlier.
Shipments of large-diameter pipes declined quarter on quarter as Gazprom and Transneft cut purchases after completing projects, TMK said without giving figures. Shipments rose 34 percent in the first half from a year earlier to 377,000 tons, it said. U.S. unit TMK IPSCO's first-half shipments climbed 16 percent to 479,000 tons, the statement shows.
(Bloomberg)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
