Demand in North America Drives Record Quarter for Tenaris

Steel tube producer Tenaris saw global sales jump 17% sequentially to $2.057 billion in the fourth quarter ended Dec 31, 2021, with sales 82% above the same quarter a year ago.

Net earnings in Q4 were the best on record for the Luxembourg-based steel tube producer, totaling $336 million, up 3% quarter on quarter and 12% above the same quarter in 2020. For the year, Tenaris posted net income of $1.053 billion, a turnaround from the $642 million net loss the year prior.

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.

David Schollaert

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