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

quarter of 2018 continued to grow year-on-year on the back of buoyant domestic demand. Private consumption continued to gain traction, supported by improvement in income and employment. Furthermore, there

quarter, other domestic refineries had undergone Turn Around Maintenance, causing domestic supplies to drop. As for the retail market, sales volume increased 2% from the previous quarter, as such the retail

traction from the first quarter. The ongoing economic rebound was mainly driven by exports and tourism, whereas domestic spending and investment only gradually picked up. Still, the economy has yet to see

Q1-2017 (THB 18,695/ton) due to the decrease in HRC market price worldwide and a stagnant of Thai economy in the first half of 2017 causes a lower demand of steel consumption. Management’s Discussion

price of HRC in year 2017 was THB 18,690/ton, increased by 15.6% as compared with last year (THB 16,163/ton) according to HRC market price worldwide trend. - HRC cash margin (excluding depreciation) in

price: the average selling price of HRC in year 2017 was THB 18,690/ton, increased by 15.6% as compared with last year (THB 16,163/ton) according to HRC market price worldwide trend. - HRC cash margin

sectors. Tourism was heavily affected by airspace and border closures, while merchandise exports fell sharply as demand from major trading partners fell, impacting both manufacturing production and domestic

lower transfers of condominium units, and decline in hotel revenue based on market conditions. Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Consolidated Financial

still in downturn mainly from the shrink of export and import sectors which were negatively impacted by an economic slowdown of the trading partner countries with a significant drop in domestic