Comercial del Acero predicts 20% sales growth

Friday, June 20, 2003

Peruvian long and flat steel products distributor Comercial del Acero forecasts that its sales will rise 20% this year as a result of increased impetus from metal fabricators, business daily Gestion reported.

This would boost the company's revenue to more than US$48mn compared to US$40mn last year, the paper said.

To deal with the increased demand, the company has expanded its storage space by 300%, Comercial de Acero chief executive Eduardo Caceres was quoted as saying.

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The company now has two warehouses of 11,000 sq. m. each. It is also building a service center, he said.

Increased demand from construction, industry and mining has fuelled the growth of the fabrication industry, leading to higher sales of corrugated bars, profiles and sheet steel products, Caceres said.

The executive predicted that steel prices, which have recently stabilized, would rise again in the next few months as a result of China buying large quantities of the product on international markets.

The steel products market has grown at a rate of 10-12% this year, boosting steel imports, the paper quoted Caceres as saying.