) was low and could not cover cost and expense. 2. Business Outlook Total domestic Hot Rolled Steel consumption for Quarter 1, 2020 stood 1.51 million MT and decreased by 3.4% compared to same quarter

not revised the past financial statements which incurred high depreciation expense causing the new depreciation value to be lower. The effect from changing the estimated useful lives towards the

. Thailand registered a GDP growth of only 2.4% during 2019 against 4.1% in 2018 with the fourth quarter 2019 growth at merely 1.6%. Further, Total Hot Rolled Steel consumption for 2019 at 6.66 million MT

selling price of hot-rolled coil for the year in 2017 increase around 18.54% comparing with last year together with the well manage production of the Company, the Company can generate cash margin by Baht

12,391 10,868 Average selling price of hot-rolled coil for the year in 2017 increase around 18.54% comparing with last year together with the well manage production of the Company, the Company can generate

Management Discussion and Analysis Year Ending 31 December 2019 G J Steel Public Company Limited Page 2/14 2. Business Outlook Total Hot Rolled Steel consumption for 2019 at 6.66 MT decreased by 8% compared to

impacted due to continued weakening of international market for flat products and increase in imports of Alloy Steel and Hot Dipped Galvanized HRC into Thailand due to strengthening of Thai Baht and removal

prices on world market for Q1/2013 – Q4/2017 Processed price data from: Metal Expert Hot Rolled the prices for hot-rolled coil on the world market during the first quarter of 2016 to the fourth quarter of

370/mt. in the previous quarter. Chart of raw material reference prices on world market for Q1/2013 – Q4/2017 Processed price data from: Metal Expert Hot Rolled the prices for hot-rolled coil on the

that the trend hot rolled steel import decreased and to have confidence in domestic market which will have a direction to improve in the future. In addition, the government stimulus measures may affect