• The recovery of key markets, particularly the United States, stands out, with the Group securing orders for 7,000 tonnes in October.

• This increase is driven by strong demand for tubular products in the U.S., fuelled by rising oil and gas production and exports.

Amurrio, 12 November 2026. Tubos Reunidos secured new orders worth nearly €26 million in October, driven by renewed activity in international projects. Particularly noteworthy is the recovery of key markets such as the United States, where the Group booked orders totalling 7,000 tonnes during the month. Despite the 50% tariffs imposed by the U.S., several factors have contributed to a positive shift in market conditions for the company.

This increase is primarily attributable to strong domestic demand for tubular products in the United States, driven by rising oil production and exports and, above all, the growth in liquefied natural gas (LNG) exports. Significant price increases by U.S. tube manufacturers, whose order books are currently at full capacity, have also created new opportunities for alternative suppliers. In addition, new anti-dumping measures introduced by the Trump administration are expected to limit low-cost competition in the world's largest market.

Beyond the oil and gas sector, Tubos Reunidos has also secured significant contracts for applications in power generation, refining and petrochemicals, construction and public works machinery, and the automotive industry, across Europe, the Americas, Asia and Africa.

New Orders for Amurrio and Trápaga Mills

Among the new contracts, Amurrio Mill has secured an order from a South African engineering company to supply tubes for a power generation plant.

Meanwhile, Trápaga Mill, which specialises in large-diameter seamless tubes, has secured orders for major projects in the United States, Guyana, Kazakhstan and South Korea.

In the United States, Tubos Reunidos has won two contracts for major liquefied natural gas (LNG) projects. In Guyana, the company will supply tubes for deepwater offshore applications, to be installed on a floating production, storage and offloading (FPSO) unit.

The contract in Kazakhstan involves the supply of seamless stainless steel tubes for pipelines operating in highly corrosive environments containing hydrogen sulphide (H₂S). In South Korea, stainless steel tubes will be supplied for a power generation plant. These orders are complemented by additional stainless steel tube contracts secured by Trápaga Mill in October for projects in the nuclear sector.

The company expects this positive trend to continue over the coming months. In fact, during the first week of November, Tubos Reunidos secured a significant new order for 3,100 tonnes for Amurrio Mill from a new customer specialising in oil and gas projects in the United States. This contract marks the first step towards what is expected to become a long-term commercial partnership extending into 2027 and beyond.