TMK’s shipments go down 20%

Pipe Metallurgical Company (TMK) announced the results of its performance as of June 30, 2009.

In the first half of the year, the company shipped 1,203 tons of steel pipes to consumers, which was 20% less than in the first half of 2008. TMK explained this was mainly due to the shrinking market.

‘The domestic market has reduced by 34.8% compared with a year earlier,’ the company reports.

At the same time, TMK’s OCTG shipments (most of which consisted of weldless pipes) went up by 3% in the first half of 2009. The shipments of premium class threaded-joint casings increased as well.

Then, the company’s pipe shipments went up by 7% in the second quarter of the year compared with the first quarter.

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