Tenaris: North America Drove Company Growth in Q3

Steel tube producer Tenaris saw global sales jump 15% sequentially to $1.75 billion in the third quarter of 2021, with sales 73% above the same year-ago quarter. The successive increase in Q3 was driven by an 8% increase in volumes, aided by a 6% increase in selling prices.

Sales surged by 28% in North America to $901 million, supported by a steady recovery in energy drilling activity and rising prices during the third quarter. Drilling activity in both the U.S. and Canada were stable in the third quarter after gaining momentum in the first half of the year. Growth is still expected for the balance of the year, though at a slower pace. Drilling activity in the Eastern hemisphere declined 16% compared to the first nine months of 2020.

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.