Abstract: Analyzed here in the essay are the production and operation of Tenaris and Vallourec steel tube groups in 2021 from the aspects of steel tube sales volume,profitability,market distribution,assets and liabilities and debt-paying ability,etc.It is regarded via the analysis that the production and operation performances of the two steel tube groups had been improved significantly in 2021 and the level of profitability basically returned to that before the COVID-19-epidemic;Tenaris group's financial situation got basically stabilized,while Vallourec group had made great improvements on liabilities and debt-paying abilities.Meanwhile the two groups hold cautiously optimistic attitude to the operating performances of the first half of 2022.