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    Market Segment

    August 5, 2021

    Tenaris: North America the Most Dynamic Market

    Written by David Schollaert

    Steel tube producer Tenaris saw global sales jump 29% sequentially to $1.53 billion in the second quarter of 2021, pushing results up 17% year-over-year. A 21% increase in volumes was aided by a 6% increase in selling prices.

    Sales surged by 37% in North America, supported by a continued recovery in energy drilling activity and rising prices during the second quarter. Drilling activity in both the U.S. and Canada gained momentum in the first half of the year and is expected to gain further ground in the second half, though at a slower pace. Drilling activity in the Eastern hemisphere has begun to slowly recover after hitting bottom in Q1, said Tenaris in its quarterly report.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

    Read more from David Schollaert

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