Chilean steelmaker CAP Acero saw its net loss in the accumulated period of January to September reach $46.9 million, compared to a net loss of $41.9 million in the same period of 2019, the company said.
Net revenues in the nine-month period fell 8.4 percent, year-over-year, to $333.2 million. The company attributed the weaker revenues to lower steel selling prices, which fell 13.5 percent in Jan-Sept this year, as compared to Jan-Sep 2019.
CAP Acero said steel sales volumes in Jan-Sept reached 527,286 mt, 3.5 percent up, year-over-year. The steelmaker, which is part of CAP Group, posted an EBITDA loss of $30.4 million in Jan-Sept this year, slightly down from a previous EBITDA loss of $34.4 million in the same period of 2019.