Political RisksPolitical risks in Argentina and potential project delays due to international deceleration contribute to concerns over Tenaris's future performance.
Pricing ChallengesThe outlook for OCTG pricing is unenthusiastic due to increased tariffs, higher imports, and reduced US Land activity, making it difficult to find a pricing catalyst.
Supply/Demand ImbalanceImports have significantly increased after the removal of Section 232 quotas, replacing them with higher steel tariffs, creating a supply/demand imbalance and margin pressure.