future. Business wise H1 2019 was challenging particularly in the most recent quarter. Business sentiment in multiple industrial segments important to us has been impacted by the macro economy and the

accidents. Business wise Q3 2019 as in Q2 the macro economy and the competitive landscape remains challenging. The continuing weakness in the steel sector had a significant volume and revenue impact, but we

of the Thai baht is making exports more challenging competitively and we are seeing some volumes repatriated on the Thai market increasing domestic competition. Revenue realized per unit product sold

more challenging for the global steel industry participants in all the regions. Careful estimation for raw material purchasing and production cost management is seriously needed in order to cope with the

. Moreover, a stagnant of Thai economy in the first half of 2017 causes a lower demand of steel consumption. According to ISITCs data, total apparent finished steel consumption of Thailand for the first 6

Analysis (MD&A) For Q3/2018 3 Executive Summary The total apparent finished steel consumption of steel industry in Thailand in the third quarter of 2018 surged to 4.66 million tons, an increase of 11.1

some marketing risk and to improve product quality to be accepted for international standard level. For the year 2018, it will be a challenging year for the Company to increase more export volume, sales

, the Company aims to diversify some marketing risk and to improve product quality to be accepted for international standard level. For the year 2018, it will be a challenging year for the Company to

. According to ISITAs data, total apparent finished steel consumption of Thailand for the first 6 months of 2017 was at 8.3 million tons, decreased by 16.4% compared to the same period of last year, while flat

2019, the price of pig iron remained stable at the same level while the price of scrap started to fall continuously. Thus it will become more challenging for the global steel industry participants in all