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TMK's Q2 Shipments Rise

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)

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