TMK and ChTPZ, accounting for some 45% of Russian large diameter pipes manufacture, decreased local sales because of Gazprom lowering its purchases.
In H1 TMK increased earnings by 11% YoY, to $1.54 billion, yet the seamless pipes increase was chiefly countered by the considerable drop in revenue from the sales of welded pipes. In particular, welded pipes sales decreased by 32.2% YoY, to 363 thousand tons, while of LDP dropped by 60.9%.
ChTPZ earnings in January-June increased by 6% YoY, to 72.5 billion rubles, with its LDP sales up by 12%, to 371 thousand tons, and its share on the Russian market increased from 26% to 35%.
In Russia ChTPZ pipe sales dropped by 13%, to 707 thousand tons.
In 2016 demand for LDP in Russia decreased by 35%, to 2.14 million tons. (Ukrainian metal)
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