(RTTNews.com) - PAO TMK (TMKS.L) Wednesday announced a 15.1 percent decline in first quarter total steel pipe shipment to 845 thousand tonnes from 995 thousand tonnes last year. The drop was mainly due to continuing decline in shipments in the American division. Seamless pipe shipments were 564 thousand tonnes, while welded pipe shipments were 281 thousand tonnes.

The company said the demand for TMK UP premium threaded connections remained weak, due to the suspension of complex oil and gas production projects in Russia and the USA.

Looking ahead, the company said the Russian and gas pipe market will be flat in the second quarter, however it expects to maintain current shipment volumes of OCTG and line pipe. TMK expects the American pipe market not to recover before the end of 2016. It projected Industrial pipe consumption in the European pipe market to be stable in the second quarter of 2016.