Abstract: Analyzed are the production and management situations of the two big steel tube-making groups,Tenaris and Vallourec in 2020,involving such aspects as steel tube sales volume,profitability,market distribution,assets and liabilities and debt-paying ability,etc.It is regarded via the analysis that during the year the two groups both had been experiencing a tremendously difficult time for operation,having had huge losses resulting in a large scale of assets redu- ction;and that Tenaris had generally kept a stable financial status,and Vallourec had got significant progress in re-structuring its financial structure;and meanwhile the two steel tube giants hold cautiously optimistic expectation to the operation performances in 2021,and have a prediction of a limited restoration of the market share.