Mexican service center operator Grupo Collado announced this week that net sales fell by 9 percent in the third quarter of 2013 in comparison with the corresponding period last year, as a result of lower steel prices.
Sales revenues reached 1.24 billion Mexican pesos (US$96.9 million), down from 1.37 billion Mexican pesos (US$106.5 million) a year ago. Despite its lower revenues, steel shipments reached 92,857 metric tons between July and September, 8.8 percent more than the 85,301 metric tons shipped in the corresponding period last year. Grupo Collado reported a net loss of 24.3 million Mexican pesos (US$1.8 million) in the third quarter of this year, compared with a net loss of 47.3 million Mexican pesos (US$3.6 million) in July-September 2012.
With seven service center units in Mexico, Grupo Collado sells long steel products such as rebar, wire rod and sections, and flats products such as galvanized and pre-painted coils.