In 2013, the European trend towards a decline in tubular product market capacity continued. The shrinking number of active projects coupled with investor pessimism resulted in lower consumption of tubular goods. In addition, European pipe producers were affected by increasing the raw material prices in countries where they located the production facilities.TMK Artrom was impacted by this and was reflected in the weaker financial results. Despite the adverse market conditions, TMK Artrom gained 2% in shipments year-on-year having supplied 155.2 thous. tonnes of pipe production.
TMK’s share of the European seamless pipe market increased to 7.39% from 6.45% year-on-year.
Taking into account the unfavourable market and the decline in domestic consumption in Europe of 11% year-on-year, we consider it is a good result.