Vallourec cuts H1 outlook as N.America pricing weighs

French steel tubes maker Vallourec VK cut its half-year profit forecast on Thursday, as its tube-making business in North America continues to be affected by declines in prices.

It sees earnings before interest, tax, depreciation and amortisation (EBITDA) of less than 470 million euros ($511 million) for the first half of 2024, compared to around 502 million euros it had targeted previously.

($1 = 0.9190 euros)