Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Russia-based TMK expects demand for its steel products to remain subdued in both, Russia and Europe, on the back of COVID-19 pandemic. The company produces tubular pipes, mainly used in the oil and gas industry. The company’s CEO Igor Korytko stated they are witnessing a challenging Q2 (April-June) pressuring sales of their products, including seamless OCTG pipe.


In Q1 2020, the company’s sales volumes were 714,000mt, down by 27pc from 978,000mt in the prior-year quarter, according to TMK’s Q1 results released on May 21. Compared to the preceding quarter, sales volume declined by 20pc. Of the total Q1 2020 sales, welded pipes contributed 188,000mt, down from 293,000mt and 255,000mt in Q1 2019 and Q4 2019, respectively. Sales of seamless pipes fell by 23pc from the prior-year quarter and 18pc from the preceding quarter to 526,000mt.


Russia’s pipe market fell by 11pc from the prior-year quarter amid unfavourable economic situation and oil price volatility. In Europe, TMK’s other prominent market, demand from key pipe-consuming industries dropped, also on challenging economic environment. 

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