Mick Pickup's questions to Tenaris SA (TS) leadership • Q4 2024
Question
Mick Pickup asked for a breakdown of the U.S. market between seamless and welded pipe, noting that Tenaris imports some seamless tubes. He questioned the company's ability to ramp up its U.S. welded production capacity if the market dynamics required it.
Answer
Luca Zanotti, President of U.S. Operations, explained that the great majority of Tenaris's U.S. sales are seamless, but the company is very well positioned to ramp up welded capacity at its plants if needed. Chairman and CEO Paolo Rocca added that this would depend on the relative pricing of welded products and the cost of hot-rolled coils, for which they rely on domestic U.S. suppliers.