activities. Overall Domestic HRC market conditions remained subdued with downward pressure on HRC prices due to global trade tensions, high levels of imports and slowdown in Thai economy. While various
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
quarter last year. Meanwhile, imports of Hot Rolled Steel decreased by 14% and Domestic Production increased on 11.5% compared to same period last year. To regain the market share and reduce imports, the
the reestablishment of US sanctions of Iran, as well as demanding for other countries to cease crude product imports from Iran; the sanction had been in place for 90 days since it began, this resulted
with the temporary maintenance closure of some oil refineries in the last quarter of the year. Nevertheless, the current account remained in surplus with the value of imports contracted at a greater rate
announced in 2nd quarter this year. Even though the imports into the USA will always be a competitive factor given the large 4 available capacity abroad, such actions place IVL and other domestic producers as
instead of imports. However, the policy encouraged to increase production capacity and supply excess capacity to other countries. This will create problems for the steel market in other countries in the
quarter was more slowing down, with exports continuing to contract following the slowdown in the counterpart economy. This is resulting to contraction in imports of goods, industrial production and private
, VGA products were in extremely high demand, further exacerbated by delayed imports, resulting in shortage and skyrocketing price in response to market dynamics. However, in 2022, the shortage of VGA