The Canadian International Trade Tribunal (CITT) determined oil country tubular goods (OCTG) sold by Tenaris S.A. and certain exporters from South Korea, Turkey, and the Philippines are subject to antidumping tariffs.
The petitions allege that foreign producers are selling seamless and welded OCTG at unfairly low prices and, in Austria’s case, benefitting from countervailable subsidies.
Mexican steel trade group Canacero has elected TenarisTamsa’s Sergio de la Maza Jiménez as its new president of the board of directors for 2026-27.
Tenaris has closed on its buy of a Beaver Falls scrap processing yard in Pennsylvania.
Following a $2.1 milli-n outlay to restart operations, Tenaris is reactivating the heat treatment and finishing operations at its EAF mill in Koppel, Pa.
A Tenaris subsidiary, Steel Recycling Services, has acquired the Beaver Falls, Pa., scrap processing yard of SA Recycling.
The US OCTG Manufacturers Association is commending US Customs for intercepting another Thai company's attempt to illegally transship Chinese oil pipe to the US.
The US OCTG Manufacturers Association (USOMA) announced that the US Customs and Border Protection (CBP) agency made an initial affirmative determination of duty evasion practices.
Tenaris is blaming unfairly traded OCTG imports flooding the US market for its decision to lay off approximately 170 employees.
Latin American steelmaker Ternium posted a strong uptick in earnings in its fourth quarter, and sees increasing steel demand growth in Mexico.
Six US manufacturers of oil country tubular goods (OCTG) have come together to establish a Washington, D.C.-based trade association to promote the domestic industry.
Tenaris is planning to restart its operations in Blytheville, Ark.
Ternium and Tenaris have upped their stake in Brazilian steelmaker Usinas Siderúrgicas de Minas Gerais S.A. (Usiminas). Ternium’s Brazilian subsidiary Confab Industrial S.A., Ternium Investments, and Ternium Argentina, collectively known as the T/T group within the controlling group of Usiminas, closed on a previously announced acquisition of 68.7 million ordinary shares of Usiminas. The shares […]
Lourenco Goncalves, chairman, president, and CEO of Cleveland-Cliffs, has been elected as chairman of the American Iron and Steel Institute (AISI), the institute said on Monday. The election for the two-year term by AISI’s board of directors took place at the AISI General Meeting at the InterContinental Hotel-The Wharf in Washington, D.C. “Lourenco is a dynamic leader in […]
Ternium SA and its affiliates aim to take a majority stake in Brazilian flat-rolled steelmaker Usinas Siderúrgicas de Minas Gerais SA (Usiminas). The Latin American flat-rolled steelmaker said it and related companies had agreed to pay $111 million in cash for 57.7 million in ordinary shares of Usiminas. The shares will be purchased from Japan’s […]
Tenaris SA will redirect funds initially slated for the acquisition of Benteler Steel & Tube Manufacturing Corp. in Shreveport, La., to its existing operations in the US. “We will reorient our investment plan in the United States to achieve, through organic growth, the objective of strengthening our local industrial and logistics system,” Tenaris chairman and CEO Paolo […]
Tenaris SA said Feb. 5 that Benteler North America Corp. has terminated the sale of Benteler Steel & Tube Manufacturing Corp. to Tenaris, effective immediately. Luxembourg-based Tenaris had announced in July the intended acquisition of the steel pipe producer in a deal valued at $460 million. By Ethan Bernard, ethan@steelmarketupdate.com
With the recent trade case decision resulting in antidumping duties placed on both seamless and welded oil country tubular goods (OCTG) imports, Tenaris plans to ramp up its OCTG production in the US as demand and pricing remain strong, according to company executives speaking on a third-quarter earnings conference call with analysts on Friday, Nov. 4. […]
With a total investment of $150 million Canadian (US$109.9 million), Tenaris recently consolidated its seamless and welded pipe manufacturing operations in Canada into one location in Sault Ste. Marie, Ontario, to better serve the country’s energy sector. An inauguration ceremony with company executives, customers, employees, and government officials was held on Sept. 27 to mark […]
We had a big development this week with London-listed Russian steelmaker Evraz Plc announcing plans to sell its North American operations. A move like this has been rumored for some time. We’ve heard versions of it going back to Russia’s full-scale invasion of Ukraine in late February. Still, it was something of a shock to […]
Strong OCTG pricing and demand is driving higher sales for global pipemaker Tenaris. The Luxembourg-based company reported $2.8 billion in sales during the second quarter—an 18% rise from the previous quarter and an 83% jump from Q2 2021. Q2 net income also rose 18% sequentially and showed growth of 118% year-on-year to reach $634 million. […]
Steel pipe producer Tenaris has joined the Steel Manufacturers Association, the US industry trade association representing electric arc furnace producers. Additionally, Luca Zanotti, president of Tenaris’ US operations, is joining the SMA’s board of directors. “Our company is committed to supporting low emissions steelmaking with an agenda rooted in sound public policy, a strong safety […]
Luxembourg-based steel tube producer Tenaris SA is set to purchase Benteler Steel & Tube Manufacturing Corp. from Benteler North America Corp. in a deal valued at $460 million. Benteler Steel & Tube is a seamless pipe producer with production facility in Shreveport, La., that has annual capacity of 400,000 metric tons. The acquisition, which is subject […]
Tenaris will pay a hefty fine to the US Securities and Exchange Commission after a bribery investigation in which the global pipe producer neither admitted nor denied the allegations. The fine amounts to more than $78.1 million — $53.1 million for disgorgement and prejudgement interest and $25 million for a civil penalty. The investigation looked into allegedly […]
Driven by strong OCTG demand in the Americas and higher line pipe shipments in Europe and South America, steel tube producer Tenaris saw a 15% sequential rise in first quarter sales to $2.367 billion. Sales were double that of the year-ago quarter. Higher pricing, increased drilling, and falling inventories drove a 20% sequential rise in […]
If you’re feeling whiplash from the current market, I’d take some comfort in the fact that you’re not alone. I remember attending Great Designs in Steel, one of my favorite events, in Livonia, Mich., back in May 2018. My absolute favorite part of GDIS is seeing the latest vehicle models dissected – and all the […]
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 […]
Global pipe producer Tenaris is boosting production of oil country tubular goods at its welded mill in Hickman, Ark., to support growing customer demand in the U.S. “Hot rolled coil prices have begun to drop following massive gains last year, and customer demand continues to grow for domestically made pipe. These conditions make it the […]
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 […]
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 […]