Russia's TMK Says Shipments Down

TMK, Russia's largest maker of steel pipes for the oil and gas industry, said on Wednesday it had shipped 2.9 million tonnes of steel pipe to consumers in the first nine months of 2015, down 7.1 percent year-on-year.

The decrease was caused mainly by lower sales at its American Division, which was partially offset by increased shipments in Russia, it added in a statement.

TMK added that it expected to keep 2015 shipments flat year-on-year.

(Reporting by Svetlana Burmistrova; writing by Polina Devitt)