A summary of Tubacex, Spanish manufacturer of seamless stainless steel tube, financial performance in the first half-year of 2020.
In brief
Tubacex attributed weaker half-year results due to the effects of the Covid-19 pandemic. Pandemic-related lockdowns around the globe since March have led to a significant sales drop in the power generation market. Activity in the global seamless stainless steel tube market dropped by 50%, according to Tubacex's estimate. The impact on global demand has...