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Interpipe has reduced sales and production of pipes by 25% and 32% respectively

Ukraine / Ferrous metallurgy

In the first half of the year industrial company in Ukraine Victor Pinchuk suffered significant losses due to the outbreak of coronavirus, resume duties on wheels in Russia and falling oil production around the world.

Interpipe has reduced sales and production of pipes by 25% and 32% respectively

Sales of pipe products in June 2020 Interpipe remained vulnerable and susceptible to negative effects of the pandemic COVID-19 and the global oil crisis, says the company.

Consolidated sales of pipe products to Interpipe in January – June 2020 decreased by 31.6% to 233,6 thousand tons; pipe production decreased year-on-year by 25.4% - up to 236.8%. Production of railway products increased by 8.5%, and its sales by 4.1%.

sales of OCTG recovered slightly (9.7% the previous month) on higher deliveries to Turkey, while sales in other regions declined.

"the price of oil, as well as the balance of supply and demand showed a positive trend during June, but the demand for OCTG in the United States and other regions far from recovery, and the markets remain depressed," - said Interpipe.

In the first half of 2020, Ukrainian OCTG sales fell to 55.8% compared to the same period last year (APPG).

sales linear (ordinary) pipe remained at the level of 2019 due to the constantly weak demand, but with some signs of recovery in the US and MENA

sales of mechanical (hydraulic) pipes for June has doubled on higher demand from Ukrainian and Belarusian customers, as an increasing number of equipment manufacturers have resumed work after blocking.

Increase sales of welded pipe (8.6% the previous month) was driven by pent-up demand after limited sales in the previous months and depleted stocks in Ukraine and recovery of sales in Europe.

sales of railway products dropped sharply (42.8% compared with may) after recovery from input 34,22% anti-dumping duties in the Customs Union for railway wheels from Ukraine.

"in fact, private sales to the Customs Union fell by more than 13 times compared to the previous month, but a third of that fall was offset by increased sales of Ukrainian companies", - noted in the Interpipe.

МЕТАЛЛУРГПРОМ
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