Investor Presentaiton
TMK ... and Growth of OCTG Prices
U.S. distributor welded OCTG vs. HRC prices
(U.S.$/tonne, monthly average)
2 100
1 900
+61%
Prices have rallied from the low in April 2016.
Since the trough, welded OCTG prices
increased by more than 60% and seamless
OCTG prices by almost 50%
1 400
700
1 500
1 100
700
+77%
Apr-16 Dec-16 Aug-17 Apr-18
Prices have stabilized in recent months:
average welded and seamless prices by the
end of 3Q 2018 were flat when compared to
prices by the end of the previous quarter
Following the implementation of Section 232,
HRC prices grew by almost 300US$/Tn until
August when they started a downward trend
which, according to market analysts, is
expected to continue during 2019
0
300
Jan-13
Jun-14
Nov-15
Apr-17 Sep-18
Welded OCTG price
HRC price
Source: Pipe Logix, AMM
U.S. distributor seamless OCTG vs. scrap prices
(U.S.$/tonne, monthly average)
2 400
1 600
800
1.800
1 400
1 000
600
+46%
+58%
200
0
Jan-13 Jun-14 Nov-15 Apr-17 Sep-18
Apr-16 Dec-16 Aug-17 Apr-18
Seamless OCTG price
Scrap price
Source: Pipe Logix, AMM
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