TMK awaits slight reduction in pipes dispatch in 2014

TMK, the Pipe Metallurgy Company, one of the world largest pipe producers for the oil and gas sector announces its operational results for Q1 2014.

The main indices for Q1 2014

In Q1 2014, TMK dispatched to the consumers 1.022 million tons of steel pipes, by 3% less than in Q1 2013, and by 8% less than in Q4 2013. This reduction happened mostly due to the decline in the demand for seamless and welded linear pipes and large diameter pipes. Seamless pipes dispatch was 626,000 tons, the same as in Q1 2013, and by 3% less than in Q4 2013. Welded pipes dispatch reduced by 9% to 396 tons versus Q1 2013, and by 16% less than in Q4 2013. OCTG pipes dispatch was 491,000 tons, the same as in Q4 2013, and by 13% more than in Q1 2013. Premium screw joints dispatch was 193,000 items, by 18% more than in Q4 2013, and by 4% less than in Q4 2013. The reduction in dispatch and worsening in the sales structure of OCTG pipes including premium joint and seamless linear pipes as well as the decline in ruble rate will negatively influence the financial results of TMK in Q1 2014 in comparison to those awaited.