Steelhome Steel Weekly September 14-September 21,2012

SteelHome Weekly-Steel (Sept.14-Sept.21, 12)

SteelHome- Steel Price Index 2

China Steel Average Price 2
SteelHome- China Steel Price Index 2
SteelHome- Global Steel Price Index 3

China Steel Market Image 4

CB0 ommon Carbon Steel 4
SteelHome Steel and Raw Materials Price Indices List 4
Steel Mills and Consumers: Win-win Cooperation 5
Mismatch Between Supply and Demand Curbs Steel Price Rebounce 6
EU Imposed a Provisional Anti-dumping Duty on Chinese Organic Coated Steel 7
NDRC: China Steel Industry Profit Slumped 48.3Pct in Jan.-Jul., 2012 8
CISA: Steel Industry Transformation Should Aim at High Value-added Products 8
Don't Be Overoptimistic on Improved China Steel Price Market 9
Commentary on Thailand's Provisional Anti-dumping (AD) Duties on China-produced Coated Steel 10
Is There Strong Incentive for China Steel Price Rally? 11
How China Steel Industry Survive the "Winter"? 13
Weekly Report of China Steel Market for September 14-September 21, 2012 14
1BStainless Steel 18
Baosteel Stainless Steel Uplifts October Ex-works Price 18
Baosteel Stainless Steel Cuts Stainless HRC Export Prices for October 2012 18
Stainless Steel Inventory in Wuxi Market by September 10, 2012 18
Taigang Stainless Steel Raises Export Price For October 2012 19
Eastern Special Steel Raise Stainless Steel Ex-works Price on September 18, 2012 19
Weekly Report of China Stainless Steel Market for Sept.14-21, 2012 20
WB2 eekly Inventory 25
China Longs Inventory for September 14-September 21, 2012 25
China Flats Inventory for September 14- September 21 2012 26

Weekly Price 27

China Construction Steel Price Collection on September 21 27
China CR/HR sheet/coil Price Collection on September 21 27
China Silicon Steel Price Collection on September 21 28
China Prepainted Plate Price Collection on September 21 29
China Medium Plate Price Collection on September 21 29
China Carbon Structural Steel Price Collection on September 21 30
China Stainless Steel Price Collection on September 21 31
China Seamless Pipe Price Collection on September 21 32

SteelHome 2013 China Steel Market&2nd Coal/Coke Development Strategy Conference 33

SteelHome- Steel Price Index

China Steel Average Price

SteelHome- China Steel Price Index

SteelHome China Steel Price Index (SH_CSPI)[2012-09-21]

Index WoW% MoM% QoQ% YoY%
-13.5
Quality & Special Steel SH_CSPI-S 97.27 1.04 -4.5 -12.07 -17.78
-14.57
Stainless Steel SH_CSPI-SS 83.51 3.16 2.42 -3.26 -14.92
-11.74
Common Wire Rod 100.41 3.89 -2.77 -11.5 -14.21
-12.61
Rebar 106.8 4.27 -2.01 -11.17 -10.09
-13.94
Section Products 98.84 1.14 -4.51 -9.55 -14.32

Medium Plate 79.85 4 -2.99 -13.45

HR Plate/coil 79.51 5.22 -3.78 -13.34

CR Sheet/coil 74.9 1.62 -2.85 -9.3

Quality Wire Rod 93.67 1.42 -5.46 -12.23

Structural Steel 96.03 1.29 -4.37 -13.62

SteelHome- Global Steel Price Index

SteelHome Global Steel Price Index (SH_CSPI) [2012-09-21]

Index Week on week% Month on month% Quarter on quarter% Year on year%

Global SH_GSPI 116.67 1.82 -1.3 -9.6 -12.2

Flats SH_GSPI-F 105.47 2.41 -1.97 -10.28 -12.77

Longs SH_GSPI-L 131.62 1.64 -0.62 -9.1 -11.08

America SH_GSPI-America 121.01 0 0.44 -6.45 -7.26

Europe SH_GSPI-Europe 110.98 -0.17 1.61 -8.4 -13.06

Asia SH_GSPI-Asia 118.41 3.17 -2.94 -10.76 -12.98

China SH_GSPI-CN 119.58 3.78 -2.81 -11.72 -13.4

China Steel Market Image

Common Carbon Steel

B0

SteelHome Steel and Raw Materials Price Indices List

Following are renewed steel price indices published by SteelHome since the launching on November 1, 2004.

Full name of index Abbreviation Note
SteelHome China Steel Price Index SHCNSI daily updated
SteelHome China Steel Price Index - Longs SHCNSI-L daily updated
SteelHome China Steel Price Index - Flats SHCNSI-F daily updated
SteelHome China Steel Price Index – Special Steel SHCNSI-S daily updated
SteelHome China Steel Price Index – Stainless Steel daily updated
SteelHome China Steel Price Index – Wire Rod SHCNSI-SS daily updated
SteelHome China Steel Price Index – Rebar SHCNSI-WR daily updated
SteelHome China Steel Price Index – Section Bar SHCNSI-RB daily updated
SteelHome China Steel Price Index – Medium Plate SHCNSI-SB daily updated
SteelHome China Steel Price Index – HR Coil SHCNSI-MP daily updated
SteelHome China Steel Price Index – CR Coil SHCNSI-HR daily updated
SteelHome China Steel Price Index – Quality Wire SHCNSI-CR daily updated
SteelHome China Steel Price Index – Carbon & Alloy Structural SHCNSI-QW
daily updated
Steel SHCNSI-CA
SteelHome China Steel Price Index – Seamless Pipe daily updated
SHCNSI-SP Note
Full name of index Abbreviation
SteelHome Global Steel Price Index weekly updated
SteelHome Global Steel Price Index - Flats SHGSI weekly updated
SteelHome Global Steel Price Index - Longs SHGSI-F weekly updated
SteelHome Global Steel Price Index - America SHGSI-L weekly updated
SteelHome Global Steel Price Index - Europe SHGSI-America weekly updated
SteelHome Global Steel Price Index - Asia SHGSI-Europe weekly updated
SteelHome Global Steel Price Index - China SHGSI- Asia weekly updated
SHGSI- China
Full name of index Abbreviation Note
SteelHome China Raw Material Price Index SHCNMI daily updated
SHCNOI daily updated
SteelHome China Iron Ore Price Index SHCNDOI daily updated
SteelHome China Domestic Iron Ore Price Index SHCNIOI(USD) daily updated
SteelHome China Imported Iron Ore Price Index (USD) SHCNIOI(RMB) daily updated
SteelHome China Imported Iron Ore Price Index (RMB) SHCNCKI daily updated
SHCNSI daily updated
SteelHome China Coke Price Index
SteelHome China Ferrous Scrap Price Index

SteelHome China Ferroalloy Price Index SHCNFI daily updated
Full name of index Abbreviation Note

SteelHome China Coal Price Index SHCNCI daily updated
SteelHome China Coking Coal Price Index SHCNCCI daily updated
SteelHome China Thermal Coal Price Index SHCNTCI daily updated
SHCNPCI daily updated
SteelHome China PCI Price Index

Steel Mills and Consumers: Win-win Cooperation

Baosteel Fortify Strategic Cooperation with SKF

On September 14, 2012, Baosteel and Svenska Kullagerfabriken (SKF) fortified their further strategic cooperation
on their anniversary celebrations.

It was the third strategic partnership agreement since their first close cooperation in 1992, and the two parties from
now on will reinforce their collaboration on technology, procument, logistics, marketing and management.

Shougang Signed Strategic Cooperation Agreement with Zoomlion

On September 14, 2012, Shougang and Zoomlion Heavy Industry Science&Technology Development Co., Ltd
signed a strategic cooperation agreement.

Zoomlion was founded in 1992, and mainly engaged in the construction of major high-tec R&D and manufacturing
equipment required from construction, energy, transportation and other infrastructure construction.

Meanwhile, Shougang has been committed to high-end sheet development, and continuously extended the
product mix, gradually forming products cluster involving pipeline, container, shipbuilding, hot rolling, cold rolling
and plates.

This agreement will lay the foundation for two parties in making full use of the bilateral advantages in resources
and deepen their further cooperation.

Wuhan Steel Signed Scrap Purchase Contract with Wuchang Shipbuilding Company

It is reported that Wuhan Steel recently signed the purchase contract of scrap with local shipbuilder Wuchang
Shipbuilding Industry Company. The later one will directly supply its prime scrap to the leading steelmaker in China
via its Shuangliu production base where annual scrap production (low sulphur) is around 15000 tonnes.

The cooperation will not only shorten the supply channel of scrap to Wuhan Steel, but also secure the stable
supply of prime scrap resources.

Masteel Color Coated Plate to Align Otis Elevator

Masteel recently developed green and enviroment-friendly color coated plate successfully for Otis elevator doors.
In July 2012, Otis Elevator (Chongqing) Co.,Ltd signed first supply contract with Masteel of 90 tonnes color coated
plate.

Chongqing Steel Signed Strategic Cooperation with China State Shipbuilding Corporation

It is reported that Chongqing Steel and China State Shipbuilding Corporation (CSSC) have singed strategic
cooperation agreement recently. CSSC would increase steel purchase from Chongqing Steel and expand
cooperation in non-steel sector, marking a deepened cooperation.

CSSC buy about 2 million tonnes of steel plate each year and they claim to place half of annual their orders from
Chongqing Steel.

Sany Heavy Industry Signed Strategic Agreement with Panzhihua Steel

On October 20, Sany Heavy Industry officially signed strategic agreement with Panzhihua Steel that both of them
would take each other as the first purchase option, as steel products and engineering equipment.

Xiang Wenbo, President of Sany Heavy Industry, revealed that they may establish new production base in Sichuan

province where Panzhihua Steel locates.

Mismatch Between Supply and Demand Curbs Steel Price Rebounce

On September 20, 2012, rebar main contract prices presented a nosedive to CNY 3600 and CNY 3500 per tonne,
depleting all accumulative increase in the past few days.

Statistics showed that China’s rebar output in August 2012 totaled 15.042 million tonnes, substantially increased
by 10 percent or 1.3 million tonnes over the same period last year. The overcapacity in China’s steel industry
continues to grow.

Analyst from Central China Futures Co., Ltd indicated that China’s daily crude steel output in late August averaged
1.87 million tonnes, and in early September, the output amounted to 1.895 million tonnes, which reveals that steel
mills in China show no intentions to cut output, and the crude steel out and steel products output still maintain high
levels.

A head from one steel mill in Shandong expressed that although recent steel prices presented upward tendency,
traders performed to be inactive in purchasing and the inventory is still in the high levels.

Steel mills now show tiny interests in shuting down, especially along with the recent price hike, and thus supply in
the future will increase.

However, downstream demands for steel products sustained depression under such augmentative capacity, and
that for rebar have been affected greatly by the government’s macro-control on the real estate industry.

Meanwhile, demands for rebar from railway construction maintained sluggish as well. According to latest statistics
released by Ministry of Railways, the investments in China’s railway construction totaled 227.774 billion yuan in
January-August 2012, dropping by 28 percent or 88.695 billion yuan over prior year.

Consequently, current shrinking railway construction slacked demands for steel products acutely.

EU Imposed a Provisional Anti-dumping Duty on Chinese Organic Coated Steel

On September 19, European Union announced to impose a provisional anti-dumping duty on imports of certain
organic coated steel products originating in the People’s Republic of China. The investigation started from
December 2011. Involved Chinese producers and the result are listed below:

Chinese producers Anti-dumping tax（%）
Union Steel China ; Wuxi Changjiang Sheet Metal Co. Ltd 13.2
Zhangjiagang Panhua Steel Strip Co., Ltd; Chongqing Wanda Steel Strip Co., Ltd; 55.3
Zhangjiagang Wanda Steel Strip Co., Ltd; Jiangsu Huasheng New Construction 29.2
Materials Co. Ltd; Zhangjiagang Free Trade Zone Jiaxinda International Trade Co., Ltd
Zhejiang Huadong Light Steel Building Material Co. Ltd; Hangzhou P.R.P.T. Metal 42.5

Material Company Ltd 57.8
Angang Steel Company Limited

Anyang Iron Steel Co. Ltd
Baoshan Iron & Steel Co. Ltd
Baoutou City Jialong Metal Works Co. Ltd.
Changshu Everbright Material Technology Co.Ltd.
Changzhou Changsong Metal Composite Material Co.Ltd.
Cibao Modern Steel Sheet Jiangsu Co Ltd.
Inner Mongolia Baotou Steel Union Co.Ltd.
Jiangyin Ninesky Technology Co.Ltd.
Jiangyin Zhongjiang Prepainted Steel Mfg Co.Ltd.

Jigang Group Co., Ltd.
Maanshan Iron&Steel Company Limited
Qingdao Hangang Color Coated Sheet Co. Ltd.

Shandong Guanzhou Co. Ltd.
Shenzen Sino Master Steel Sheet Co.Ltd.
Tangshan Iron And Steel Group Co.Ltd.

Tianjin Xinyu Color Plate Co.Ltd.
Wuhan Iron And Steel Company Limited

Wuxi Zhongcai New Materials Co.Ltd.
Xinyu Iron And Steel Co.Ltd.

Zhejiang Tiannu Color Steel Co. Ltd.
All other companies

NDRC: China Steel Industry Profit Slumped 48.3Pct in Jan.-Jul., 2012

Data from National Development and Research Commission show that the profit of China steel industry
aggregated 79.3 billion yuan in the first seven months of 2012, plummeting by 48.3 percent year on year. And the
breakdown profit of ferrous metals mining and dressing and steel smelting and processing industry hit 49.2 billion
and 24.2 billion yuan respectively, losing 3 percent and 73.2 percent year on year.

Domestic steel price kept falling. In August, China composite steel price index averaged at 104.39 points, down
7.64 points compared to last month and down 30.78 percent compared to last year. Specifically, 6.5mm high speed
wire rod, 20mm medium plate, 1.0mm CRC average price reached CNY 3712 per tonne, CNY 3629 per tonne and
CNY 4567 per tonne, down 27.1 percent, 26.6 percent and 17.4 percent compared to the same period of prior
year.

China Steel and Raw Material Production in Jan.-Aug., 2012

Unit: 10000 tonnes

Product Output Y-o-Y growth Growth rate up/down
Crude steel 48157 ↑2.3% ↓8.3%
Steel Products 62770 ↑5.7% ↓7.4%
29754 ↑4.8% ↓8.9%
Coke 2023 ↑12.6% ↓9.9%
Ferroalloy

China Steel and Raw Material Imports & Exports in Jan.-Aug., 2012

Unit: 10000 tonnes

Product Imports Y-o-Y growth Exports Y-o-Y growth
Semis 25 ↓38% -- --
Steel Products 932 ↓12.3%
Iron ore ↑8.7% 3579 ↑8.6%
Coke 48605 -- -- --
-- 75
↑74%

CISA: Steel Industry Transformation Should Aim at High Value-added Products

In order to cope with overall loss of current steel industry in China, China Iron and Steel Association (CISA), The
Chinese Society for Metals, Baosteel, Ansteel, Wuhan Steel, Shougang and Hebei Iron and Steel Group signed a
proposal of strategic cooperation on September 11, 2012 to pull out of the predicament together.

Wang Haiqing, Chairman of China Iron and Steel Association (CISA) remarked that during the 12th Five Year Plan
period, the transformation of China’s steel industry should be pushed forward by technological innovation.

Targeting Steel Products for Railway and Highway Use

China’s steel industry now is transforming from real estate-depended to high value-added steel products for
railway and highway use, and steel mills now should accelerate the development of high quality special steel, steel
for oceaneering use, steel for traffic and transportation use, new energy development and storage and
transportation and.

Wu Xichun, Honorary Chairman of CISA indicated that partial high performance and high value-added steel
products like high-speed railway axles in China now still rely on imports, and although the profit margin of high-end
steel products falls, it still higher than that of common steel products.

Steel Prices Bottom out and Start Turning up

Driven by investments in infrastructure, China’s steel market ushered in a rebound. Wu pointed out, “The steel
prices recently increased by CNY 100-150 per tonne, but the market is still in the dilemma because of the nose
dive within the past three months.”

In the fourth quarter 2012, steel mills will face more pressures in making a profit due to the grievous oversupply
and bearish exports.

“China’s steel mills now should grasp the opportunity to develop the industrial chain from mining to deep
processing of steel products.” Wu added.

Don't Be Overoptimistic on Improved China Steel Price Market

China crude steel production glitters with rallied steel price

China Iron and Steel Association (CISA) released that the crude steel output of its members in early September
rose 2.9 percent to 1.565 million tonnes, ending the continuously falling trend. The production nationwide is
expected to be 1.895 million tonnes, growing 1.2 percent compared to that in late August.

As we have reported in previous articles that a retaliatory rebound struck domestic steel price and an
accompanying rise wave touched raw material prices as billet and iron ore, owing to investment projects approval
of NDRC. When steel price jump tends to be eased last week, the announcement of QE3 from U.S. Fed again
fuels market enthusiasm for a further increase.

(Click to View SteelHome Analysis on Will Approved Infrastructure Projects Revive China Steel Industry? )

Consequently, most steel mills opt for continuing production but not maintenance and production cut as long as
they could earn some profit regardless of more or less it is, a unique feature staying in China steel industry. Partly,
some low-prices raw materials are applied into production in steel mills owning short purchase period.

So some industry experts jokingly said that domestic crude steel would glitter with any favorable news, indeed the
truth, also reflecting weakly self-disciplined steel mills with regard to production cut.

Rallied crude steel would undermine steel market

Why would we worry about the improving production data? Because since this year, China economic growth
cooled down in line with global financial meltdown and its GDP growth in Q2 fell down to 7.6 percent from previous
eight percent, jeopardizing downstream demand for steel products. However, the enormous steel capacity gets
fully unleashed in the given time, pushing daily crude steel output hovering around 1.9-2.02 million tonnes and
threatening the health of China steel market, as it’s known to all that overcapacity has emerged to be a
nerve-wrecking issue for most market participants.

In a manner of speaking, the crude steel to be produced directly impacts steel market performance in future.

Another argument heats up our concern comes to that no substantial stimulus policy of great significance comes
out now, only which could ramp up steel consumption and further shore up market price under the backdrop of
slowed domestic economy development mirrored in worsening exports, slackened industrial production as well as
gloomy housing sector and unsolved financial crisis in Euro-zone and U.S.

Therefore, where would such a huge quantity of steel production go whilst the market consumption did not pick up
timely?

For more details, please refer to http://newsen.steelhome.cn/2012/09/19/n669054.html

Commentary on Thailand's Provisional Anti-dumping (AD) Duties on China-produced
Coated Steel

Thailand’s Foreign Trade Bureau of Commerce Department decided to impose provisional anti-dumping (AD)
duties of 42.88 percent and 26.22 percent separately on China-produced galvalume and ainc-aluminum coating
steel from September 8, 2012.

Here below is SteelHome commentary on this provisional anti-dumping duty:

1) According to Customs Bureau, in January-July 2012, China exported galvalume and ainc-aluminum coating
coil/plate of 58,500 tonnes to Thailand, accounting for 0.19 percent of total steel products exports; and to
Southeast Asia, the exports hit 112,800 tonnes, taking up 0.36 percent of total exports. So this anti-dumping duty
fails to affect China’s exports of steel products violently.

Table 1 China’s Steel Products and Coated Steel Exports in Jan.-Jul. 2012 (Unit: 10,000 tonne)

Exports Jan.-Jul.2012 Jan.-Jul.2011 Up/down Growth%
Steel Products 3148.1 2880.97 267.13 9.3
Galvalume and ainc-aluminum coating 38.8 30.98 25.2
Exports to Southeast Asia 11.28 7.44 7.82 51.6
Exports to Thailand 5.86 3.76 3.84 55.7
2.1

2) In January-July 2012, China exported galvalume and ainc-aluminum coating coil/plate to Thailand with average
price of US$931.68 per tonne, and during the given period, China’s galvalume and ainc-aluminum coating
coil/plate import prices averaged at US$952.13 per tonne. Imports and exports have small differences in prices.

However, after the implemention of 42.88 percent anti-dumping duty from Thailand, China’s galvalume and
ainc-aluminum coating coil/plate to Thailand will be more difficult.

Besides, along with the current downside exports of flat products, China’s product mix adjustments from domestic
steel mills will be effect adversely.

Table 2 China’s Coated Plate (strip) Exports in Jan.-Jul.2012 (Unit: 10,000 tonne)

Coated Plate (strip) Jan.-Jul.2012 Jan.-Jul.2011 Up/down Growth%
1 Galvanized Sheet (strip) 375.85 395.74 -19.89 -5
282.73 299.43 -16.7 -5.6
2 Tin Plate 42.5 49.57 -7.07
3 Chromium Plate 6.25 7.57 -1.32 -14.3
0.05 0.01 0.03 -17.4
4 Lead Plate 38.96 31.18 7.78 253.7
5 Aluminum plate 38.8 30.98 7.82
5.1 Aluminum-zinc Plate 0.16 0.2 -0.04 25
5.2 Aluminum Plate 5.36 7.98 -2.62 25.2
6 Other coated plate -20.7
-32.8

Is There Strong Incentive for China Steel Price Rally?

A retaliatory rebound was recently underwent by both China steel spot price and rebar futures price when a host of
good news hit the market that the endorsement of large-scale investment projects by China National Development
and Reform (NDRC), new announcement of debt purchase plan to bailout euro-currency members in ECB and
introduction of open-ended QE3 from US Fed.

Nevertheless, China steel price still face risk of further decline in view of stubborn contradiction between supply
and demand and shortfall of strong backup for current rebounding. In the medium term, domestic steel industry
would still be confronted with inventory digestion pressure despite of gradual rise in real estate and railway
investment and consequent improving steel demand.

Sustained high crude steel output

The reported rebar and wire rod production in August was 15.04 and 11.53 million tonnes respectively, suggesting
historically high construction steel output. It is heard that 50 million tonnes of crude steel production was concealed
by a large steel-making province. In addition to this, roughly 50 million tonne production generated by small-sized
private electric furnaces is not posted on the statistics list exposed by media.

The 2 million tonnes daily crude steel output in China still presents to be higher than last year as nationalized steel
mill maintained producing bearing burden of GDP, employment, tax income pressure while private steelmakers are
anxious about possibly stopped loans from banks, as well as losing market and clients.

The bounced steel price has steel mills more reluctant to reduce production, which extends the time it takes to wipe
out overcapacity.

Market consumption bound to warm up

The newly approved trillion yuan of investment projects by NDRC throws a slight rise on real estate and railway
investment month-on-month growth rate. Actually, the housing sector investment gained a 15.6 percent
year-on-year growth in Jan.-Aug., 2012, picking up 0.2 percent compared to that in Jan.-Jul., 2012. Besides, a
sharp jump was seen in real estate new starting area in August, ending four-month negative growth.

Although the 1 trillion yuan infrastructure projects would be facilitated in phases within three years, which would
consume more than 30 million tonne of steel products but far from offsetting 30% of domestic steel overcapacity.

Imported iron ore inventory stays high

Recent raw material price change

Product Price on Sept.17 Previous low level
Plain carbon billet CNY 3000 per tonne CNY 2690 per tonne
Imported Indian iron ore (Fe: 63.5%) USD 104 per tonne
USD 90 per tonne

As a matter fact, market confidence was restored along with rising steel-making raw material prices. At the end of
August, the imported iron ore inventory has climbed up to 98.18 million tonnes, up 440,000 tonnes month on month
and experiencing a three consecutive month increase. Hence, iron ore price also face uncertainty for further
rebound in view of high inventory.

Limited positive effects of macro-policy

Notwithstanding global banks has generally increased capital liquidity, risky assets gained favor again, commodity
futures edged up, QE3 is brought out, the positive effects are narrow. To resolve capacity excess emerges as the
core method in dealing with China’s steel overcapacity problem, therefore, huge consumption or backward
capacity elimination is in urgent demand.

However, only infrastructure investment could save our economy from the mire it’s suffering, but where would a
large amount of investment come from? Approximately 3 trillion yuan of local government debts are due in
2012-2013, then with no doubt, the 4 trillion yuan local investment would add to woes of those policy markers.
Furthermore, severe inflationary pressure would be resulted. Thus, it’s reckoned that China is unlikely to put
forward massive stimulus plan appeared in the year of 2008.

In balance, if there’s no substantial demand recovery, China steel price would get stuck in downward sloping
channel once more. In medium term, the investment funds are delayed to be put into place and projects are not
started on time, we can’t rule out the possibility of steel price to continue downward trend in future.

How China Steel Industry Survive the "Winter"?

Xu Kuangdi, Vice-Chairman of the 10th Chinese People’s Political Consultative Conference (CPPCC) and
President of The Chinese Society for Metals, expressed that under such severe dilemma of oversupply, fatigued
demands and high-priced raw materials, China’s steel industry may survive the upcoming “winter” only by cutting
further output, reorganizing, saving energy and reducing consumpption, stretching industrial chain and developing
new markets.

Global Economy Continues Depression, China Faces Increasing Economic Pressures

“In the next 10 years, global economy will continue the uncertainty with high deficits, high debts and high
unemployment in some countries and regions.” Xu indicated. And at the same time, China’s economy is also facing
with downward tendency.

In the first half of 2012, the growth in China’s investments, exports and consumption all slackened remarkably
along with the shrinking international markets.

Steel Industry Entrapped in Gravest Predicament for Past 20 Years

In the past 10 years, pushed forward by the increasing investments in infrastructure, China’s crude steel output
augmented to 700 million tonnes from 200 million tonnes, and even for now, demands for steel products are mainly
driven by investments in infrastructure.

However, because of the deceleration of economic development both at home and abroad in 2012, China’s GDP
growth has dropped to 7.6 percent in the second quarter of 2012, and thus demands for steel products lack certain
impetus. In the first half of 2012, China’s crude steel apparent consumption hit 335.8 million tonnes, increasing by
1.96 milliont tonnes over the same period last year, and meanwhile, the profit ratio of sales from major
large-medium steel mills only hit 0.13 percent. In June 2012, profit ratio of sales presented to be -0.04 percent.

Xu claimed China’s steel industry has been caught in the most severe predicament for the past 20 years.

Four Suggestions to Survive the Winter

Xu offered four suggestions to China’s steel industry under such severe dilemma.

1) Saving Energy and Reducing Consumption for Production Costs Cut

In light of production costs of steel, about 50 percent is raw materials expenses and 33 percent is energy cost, so
cutting consumptions of fuel and raw materials is the main way to lower production costs of steel.

2) Reducing Output and Digesting Oversupply

In May 2012, Baosteel took the lead in cutting pig iron capacity of 5.8 million tonnes and crude steel capacity of 6.5
million tonnes in Shanghai, crude steel capacity of 10 million tonnes in Guangdong, and at the same time,
reorganized a new iron and steel base with capacity of 10 million tonnes in Zhanjiang.

3) Streching Industrial Chain

China’s steel industry should accelerate the global optimization layout and involve downstream sectors of steel
industry in cooperating on the derivative industries like elevator and automobile industries as well as
comprehensive services.

4) Developing New Markets

In recent years, steel mills from Japan and South Korea have already invested in building processing center of
steel products and joint-ventured mills in Indonesia, Vietnam and Singapore, China’s steel mills should also
enlarge the overseas market shares.

Weekly Report of China Steel Market for September 14-September 21, 2012

Since China steel price started to rebound on September 7, international financial and commodity market jumped
up remarkably, downstream consumers began to replenish stocks, steel traders hold wait-and-see attitude towards
market on insufficient inventory and particularly, imported iron ore rallied to USD 110 per tonne from USD 90 per
tonne. All these positive news pushed steel price to step to a higher level.

As of September 20, 2012, SteelHome (China) Steel Price Index (SH_CSPI) hit 91.96 points, up 3.32 percent week on week.

Construction steel – domestic construction steel continued falling this week
China Construction Steel Price Change in Key Cities on September 20, 2012

Unit: yuan per tonne Ф 8mm high speed wire rod Weekly change Ф18 -25mm rebar Weekly change
China average 3743 +150 3720 +168
Shanghai 3630 +190 3570 +150
Hangzhou 3720 +160 3680 +200
Nanjing 3880 3820
Guangzhou 3980 +210-190 3990 +210-190
Beijing 3620 +270-300 3620 +270-300
Tianjin 3600 +200-250 3610
Chengdu 3840 +200-250 3880 +200-250
Xi’an 3640 3590 +200-250
+90
+90 +120
+170

Data from National Bureau of Statistics show that China fixed assets investment (excluding rural) came to 21.7958
trillion yuan in Jan.-Aug., 2012, with nominal growth of 20.2 percent year on year. Total investment of new started
projects was 19.7119 trillion yuan, increasing by 24.9 percent compared to the same period of last year.

Next week would be the last trading week before National Day Holiday, during when the purchase is expected to
go up.

Forecast: China construction steel would mainly keep rising next week.

Structural steel – China structural steel rebounded sharply in the week ending September 20

As of September 20, 2012, the Ф 50mm carbon structural steel price averaged at CNY3656 per tonne at 16
domestic key markets, up CNY 78 per tonne from last week; Ф 50mm alloy structural steel price was CNY3886 per
tonne, down CNY47 per tonne. At the end of last week, some special steel mills in Zhejiang and Jiangsu province
will announce price policy for late September, which is likely to be prevailed by upward trend. This week, the
ex-works price in Shangdong was generally raised up.

Forecast: China structural steel price is expected to keep jumping next week.

Medium plate – China medium plate price experienced a strong rally

As of this Thursday, 8mm and 20mm medium plate in 28 leading markets averaged at CNY 3966 per tonne and
CNY3653 per tonne down CNY 162 per tonne and CNY 166 per tonne.

Actually, the shrinking demand is the biggest problem facing domestic medium plate. Data show that the
completion of civil ships in Jan.-Aug., 2012 were 49.111 million DWT, down 7.8 percent year on year. The figure for
August was 4.42 million DWT, decreasing 28.8 percent compared to the same period of last year.

Item Volume in Jan.-Aug.,2012 Y-o-Y growth Volume in Aug.,2012 Y-o-Y growth
Loader sales 127,100 sets ↓26.99% 10528 sets ↓37.97%
Excavator sales 90,000 sets ↓36.79% 5459 sets ↓30.12%
New orders of shipbuilding industry ↓48% - -
14.59 million DWT

The current medium plate ex-works price in North China reached CNY 3500 per tonne.

Forecast: It is envisioned that medium plate price rise would be eased in the upcoming week.

CR/HR coil – China CR/HR coil saw mixed rally this week

China HRC/CRC Average Price at 28 Cities on September 20, 2012

Unit: yuan per tonne Average price Weekly change
2.75mm HR coil 3826 ↑72
5.75mm HR coil 3692 ↑74
0.5mm CR plate 4829 ↑72
1.0mm CR plate 4500 ↑74

5.75mmQ235 HRC in Shanghai, Guangzhou and Tianjin on Sept. 20, 2012

Unit: yuan per tonne

City Average price Weekly change
Shanghai 3620 ↑150
3580 ↑130
Tianjin 3680 ↑310
Lecong

1.0mmSPCC CRC in Shanghai, Guangzhou and Tianjin on Sept. 20, 2012

Unit: yuan per tonne

City Average price Weekly change
Shanghai 4430 ↑170
4310 ↑70
Tianjin 4550 ↑100
Lecong

Although China steel price edged up remarkably, steel mills still maintained ex-works price stable as the ex-works
price has been higher than market price for a long time.

Forecast: China HR / CR coil price will face adjustment next week due to sharply rebounded HRC/CRC price,
reluctance of steel mills for further price cut and pressure of traders to recollect cash by selling products at low
price.

Coated/plated coil – China coated/plated steel went up amid stability this week

China Coated/plated Steel Average Price on September 20, 2012.

Products Average price Weekly change
0.5mm galvanized plate 5037 ↑46
1.0mm galvanized plate 4762 ↑48
0.326mm color coated 6155 ↑18
5737 ↑26
0.476 color coated

According to statistics, the household electric appliances volume in August was 7.09 million sets, with sales
income of 19.33 billion yuan.

Forecast: domestic coated/plated steel would move stably next week.

Strip –China strip steel rebounded sharply this week

By this Thursday, 2.75*235mmQ235 HR narrow strip average price hit CNY3720 per tonne in Wuxi market, up
CNY 285 per tonne from last week; CNY 3720 per tonne in Guangzhou market, up CNY220 per tonne over prior
week; CNY 3550 per tonne in Tangshan market, up CNY 370 per tonne from last week.

Meanwhile, 2.75*235mmQ235 HR narrow strip average price was CNY3675 per tonne at 12 domestic key markets,
increasing by CNY180 per tonne over a week earlier; 5.5*685mmQ235 HR medium and wide strip average price
stayed at CNY 3690 per tonne, up CNY152 per tonne.

This week, the ex-works price was lifted continuously and traders are active in replenishing more products.

Forecast: It is expected that China HR strip would keep rising next week.

Sections – China large and medium sections generally runs high this week

China Sections Average Price on September 20, 2012

CNY per tonne Average Price Weekly change
5# Q235 angle 3748 ↑59
12-16# Q235 channel 3751 ↑67
25# Q235 I beam 3818 ↑59

China H beam Average Price on September 20, 2012

CNY per tonne Average Price Weekly change
Q235 200* 200mm 3544 ↑64
3752 ↑58
400* 200mm 4027 ↑53
400* 400mm

Due to weak demand, market transactions seem not encouraging.

Forecast: It is forecast that China section steel price will tend to be stable next week.

According to China Iron and Steel Association (CISA), the daily crude steel production of its members in early
September came to 1.5654 million tonnes, up 2.9 percent from that in late August. Meanwhile, the figure
nationwide is expected to hit 1.8946 million tonnes in early September, increasing 1.2 percent compared to the last
ten days of August. With rebounded steel price, crude steel output for mid and late September would go up with it.
Influenced by production reduction in domestic mines and lessened imported iron ore shipment, there’s room for
further increase of iron ore price.

Stainless Steel

B1

Baosteel Stainless Steel Uplifts October Ex-works Price

Baosteel Stainless Steel uplifts October ex-works price on September 21, 2012, details are as follows:

Product Price (CNY/T) Up/down (CNY/T)
17500 +700
304 series HR (trimmed) 18800 +1000
CR (trimmed) 8450 --
10100 --
430 series HR (edged) 9800 --
CR (trimmed)

409L CR stainless coil(trimmed)

Note: the above price covers 17 Pct VAT, set to be valid on October 1st, 2012.

Baosteel Stainless Steel Slashes September Ex-works Price

Baosteel Stainless Steel Cuts Stainless HRC Export Prices for October 2012

Baosteel Stainless Steel and Ningbo Baoxin Stainless Steel announced to uplift export price for October, details
are as follows:

Product Export price (FOB/USD/t) Up/down (USD/t)
2450 +50
304 HR stainless steel 2650 +50
1210 +30
304 CR stainless steel
1430 +30
430 HR stainless steel
1500 --
Baosteel Stainless

430 CR stainless Steel

steel Ningbo Baoxin

Stainless Steel

The above price applied for orders in October which is scheduled to be delivered in November 2012.

Stainless Steel Inventory in Wuxi Market by September 10, 2012

A preliminary statistics showed that stainless steel inventory in Wuxi totaled 186,000 tonnes as of September 10,
2012, decreasing by 4,000 tonnes in comparison with that of August 31, 2012, which were composed of 111,000
tonnes of CR products, and 75,000 tonnes of HR, details are as follows:

Quantity in 10000 tonnes

Date Total 300 series 400 series 200 series
18.6 CR HR Total
September 10 19 CR HR Total CR HR Total 1.5 0.6 2.1
August 31 -0.4 1.54 0.55 2.09
Up/down 6.7 6.1 12.8 2.9 0.8 3.7
(MoM) -2.11% -0.04 0.05 0.01
MoM 6.9 6.3 13.2 2.8 0.91 3.71
-2.60% 9.09% 0.48%
increment (%) -0.2 -0.2 -0.4 0.1 -0.11 -0.01

-2.90% -3.17% -3.03% 3.57% -12.09% -0.27%

Stainless Steel Inventory in Foshan Market by September 10, 2012

Taigang Stainless Steel Raises Export Price For October 2012

Taigang Stainless Steel uplifts October export price for stainless steel on September 19, details are as follows:

Product CR Export price (FOB USD/t) Up/down (USD/t)
304 stainless steel coil HR 2750 +150
CR 2620 +150
430 stainless steel coil HR 1400 --
1270 --

The above price applied for orders in October which is scheduled to be delivered in November 2012.

Eastern Special Steel Raise Stainless Steel Ex-works Price on September 18, 2012

On September 18, Eastern Special Steel raised stainless steel ex-works price, details are as follows:

Product Specification Up/down (CNY/tonne) Price (CNY/tonne)
304 HR stainless steel coil 4.0 -12.0mm +500 17800
304 HR stainless steel coil +700 18300
304 HR stainless steel coil 14mm +500 18800
316L HR stainless steel coil 16mm -- 26000
316L HR stainless steel coil 4.0 -12.0mm -- 26300
321 HR stainless steel coil 14.0mm -- 21700
321 HR stainless steel coil 4.0 -12.0mm -- 22000
14.0mm

Note: 17% VAT included and set to be valid during Sep.18-24, 2012.

Weekly Report of China Stainless Steel Market for Sept.14-21, 2012

According to SteelHome China Steel Price Index (SH-CSPI), steel price index closed at 91.5 points on Sep.21,
2012, up 3.44 percent week on week; stainless steel price index (SH_CSPI-SS) came to 83.51 points, rising 3.16
percent from one week earlier.

Review on Market Performance:

Average price of stainless steel at 8 Chinese major markets on September 21, 2012

Product Price Up/down

2.0mm 304/2B stainless steel flats (CNY/tonne) (CNY/tonne)
2.0mm 201/2B stainless steel sheet 19000 +600
2.0mm 430/2B stainless steel coil 9938 +250
6.0mm 304/No.1 stainless steel coil 9700 +12
17025 +387

Manufacturing cost:

International nickel price fluctuated upward this week, and prices of stainless steel at leading Chinese steel
markets jumped up accordingly, especially at the first half of this week, but the price stabilize fundamentally. As of
end of this week, price of 2.0mm 304/2B stainless steel coil from Taiyuan Steel at Wuxi city prevailed at CNY
18,400 per tonne, some even highly at CNY 18,500 per tonne, transaction performance ran well.

Taigang Stainless Steel and Baosteel Stainless Steel uplifted ex-works price for October this week, in accordance
with marketers’ expectation.

Marketers reflected that due to rapid price growth this week, mere few transaction concluded, in order to increase
sales, the actual transaction price relaxed to some degree. According to present situation, traders wish to reclaim
money before National Day holiday, thus, stainless steel is likely to volatile with that of nickel price next week.

Dynamics on steel mills

Stainless steel price at 8 leading China markets (Price in CNY per tonne)

304/2B Shanghai Wuxi Foshan Hangzhou Zibo Tianjin Taiyuan Shenyang
2.0mm coil 19100 18900
September 18400 18400 18900 19000 19000 19100 19000 19000
700
21 500 18300 18400 18400 18700 18300 18300
September 600 600 600 400 700 700

14
Up/down

Steel mills Baoxin Taiyuan Taiyuan Taiyuan Taiyuan Taiyuan Taiyuan Taiyuan
Steel Steel Steel Steel Steel Steel Steel
304NO.1 Shanghai Wuxi Zibo Tianjin
6.0mm sheet Foshan Hangzhou Taiyuan Shenyang
September 16900 16700 17300 17400
16800 17100 17000 17000
21 16600 16400 16800 16900
September 300 300 16500 16700 500 500 16700 16500
300 400 300 500
14 Baosteel Baosteel Taiyuan Taiyuan
Up/down Stainless Stainless Taiyuan Baosteel Steel Steel Taiyuan Taiyuan
Steel Stainless Steel Steel
Steel mills Steel Steel Zibo Tianjin
Shanghai Wuxi Foshan Steel Taiyuan Shenyang
304NO.1 Hangzhou 17300 17400
10.0mm plate 17400 17600 17000 17300 17500
17800 16800 16900
September 17100 17200 16700 500 500 17000 16800
21 300 400 300 17400 300 700
400 Taiyuan Taiyuan
September Taiyuan Taiyuan Taiyuan Steel Steel Taiyuan Taiyuan
14 Steel Steel Steel Taiyuan Zibo Tianjin Steel Steel
Wuxi Steel
Up/down Shanghai Foshan 9900 10100 Taiyuan Shenyang
9900 Hangzhou
Steel mills 10000 9800 9700 9800 10000 9900
9700 9900 200 300
201/2B 9800 200 9500 LISCO LISCO 9600 9700
2.0mm sheet 200 LISCO 300 9700 Zibo Tianjin 400 200
September LISCO Wuxi LISCO 200 LISCO LISCO
Shanghai Foshan LISCO 9800 9900 Taiyuan Shenyang
21 9600 Hangzhou
September 9700 9600 9800 9900 9700 9600
9600 9700 0 0
14 9700 0 9500 9700 9600
Up/down 0 100 9700 Taiyuan Taiyuan 0 0
Steel mills Taiyuan Taiyuan 0 Steel Steel
430/2B Taiyuan Steel Steel Taiyuan Taiyuan
2.0mm coil Steel Taiyuan Steel Steel
September Steel

21
September

14
Up/down

Steel mills

Dynamics on steel mills

Taigang Stainless Steel

Taigang Stainless Steel uplifts October export price for stainless steel on September 19, details are as follows:

Product CR Export price (FOB USD/t) Up/down (USD/t)
304 stainless steel coil HR 2750 +150
CR 2620 +150
430 stainless steel coil HR 1400 --
1270 --

The above price applied for orders in October which is scheduled to be delivered in November 2012.

Baosteel Stainless Steel & Ningbo Baoxin Stainless Steel

Baosteel Stainless Steel and Ningbo Baoxin Stainless Steel announced to uplift export price for October, details
are as follows:

Product Export price (FOB/USD/t) Up/down (USD/t)
2450 +50
304 HR stainless steel 2650 +50
1210 +30
304 CR stainless steel
1430 +30
430 HR stainless steel
1500 --
Baosteel Stainless

430 CR stainless steel Steel
Ningbo Baoxin

Stainless Steel

The above price applied for orders in October which is scheduled to be delivered in November 2012.

Consuming industries

Auto Industry

According to statistics from IHSautomotive, world auto production in 2012 is going to go up, of which production of
car and light truck is potential to surpass 80 million cars. Thanks to demand rise in China, Asia (China excl.) and
other emerging markets such as South Africa, auto production is recovering from global crisis of 2008.

Shipping Industry

According to development plan of Shanghai Municipal Commission of Economy and Information in 12th five year
plan, Shanghai shipbuilding industry will go up steadily, with shipbuilding completion quantity hitting 15 million
DWT in 2015.

Infrastructure Industry

Recently, Chinese government approved a public investment project worth one trillion yuan to build railway, ports,
highway etc. after that, Caterpillar predicted that China engineering machinery industry is likely to recover in 2013
from current falling trend.

Steel mill's ex-works price adjustment (CNY/tonne)

Product Company Baosteel Stainless Steel TISCO Eastern Special Steel
2.0mm 304/2B Up/down +1000 +1000
stainless steel coil Executive price 18800 19200 +500
Executive date Oct.1st, 2012 17800
2.0mm 430/2B stainless Up/down Oct.1st, 2012 Sep.18th, 2012
steel coil Executive price 0 0
Executive date 10100
6.0mm 304/No.1 stainless Up/down 10100 Oct.1st, 2012
steel coil Executive price Oct.1st, 2012 +300
Executive date 18400
20mm 304/No.1 stainless Up/down +700 Oct.1st, 2012
steel coil Executive price 17500
Executive date Oct.1st, 2012 0
21100
Oct.1st, 2012

Raw material

Nickel

LME nickel futures price hiked this week and once break US$ 18,000 per tonne, however lacking of momentum,
LME nickel price moved down to US$ 17,850 per tonne. This week, LME nickel inventory went down by 24 tonnes
to 120,852 tonnes.

Jinchuan Group uplifted electrolytic nickel by a total of CNY 4,000 to CNY 126,000 per tonne this week, bracing
domestic spot nickel market up, and traders intended to uplift price too.

Due to international nickel price growth stagnation at the end of this week, the upward trend of domestic nickel is
hard to sustain, downstream buyers calmed down in purchasing, the overall transaction return to tranquil.

Chrome

Prices of ferrochrome in China stabilized this week. As of September 21, 2012, high carbon ferrochrome (FeCr
55C 1000) ex-works price was CNY 7,200-7,300 per tonne (Cr 50, same below) in Shanxi and Inner Mongolia.
High carbon ferrochrome ex-works price was CNY 7,250-7,300 per tonne in Sichuan and Hunan provinces, flat
week on week.

Domestic ferrochrome market maintained stable this week, quotations from ferrochrome manufacturers firmed
gradually. It’s hard to find cheap supplies in the market.

Affected by the purchase of Taiyuan Steel in September, ferrochrome transaction in Northern China seemed
sluggish, inventory consumption slowed down, however, ferrochrome in Southern China sold well. It is predicted
that China ferrochrome market will retain stable next week.

Molybdenum

Ferromolybdenum market ran steadily this week. As of this Friday, ferromolybdenum (FeMo60)'s ex-work price
proved to be CNY102, 000-104,000 per tonne in Liaoning and Henan provinces, flat week on week.

China ferromolybdenum market swung mildly this week, market enquiries increased, however, as most traders
inquired tentatively, thus, the actual transaction appeared bleak. Most ferromolybdenum manufacturers produced
according to orders, and were reluctant to undersell.

Baosteel purchased 160 tonnes of ferromolybdenum (FeMo60) for October at the cost of CNY 96,500-97,000 per
tonne, up CNY 500 per tonne month on month. It is predicted that domestic ferromolybdenum market will keep
stable in the following week.

Weekly Inventory

B2

China Longs Inventory for September 14-September 21, 2012

Wire rod Rebar

Quantity: 10000 tonnes 21-Sep September Up/down 21-Sep September Up/down
14 14

Shanghai 8.8 9.1 -0.3 28.9 30.8 -1.9

Hangzhou 4.4 4.7 -0.3 29.8 33.6 -3.8

Nanjing 2.85 2.9 -0.05 15.76 15.96 -0.2

East Jinan 0.7 0.05 0.65 1.8 1.6 0.2

Hefei 2.26 2.47 -0.21 5.9 6.12 -0.22

Fuzhou 1.5 2 -0.5 16 18.2 -2.2

Nanchang 2.4 2.4 - 6.9 6.9 -

Guangzhou 16.3 17.8 -1.5 50.8 53.5 -2.7

Shenzhen 0.79 1.08 -0.29 8.14 9 -0.86

Central Nanning 15.36 15.68 -0.32 40.9 41.9 -1
South Liuzhou 1.09 1.46 -0.37 9.4 9.8 -0.4
Wuhan 3.65 3.76 -0.11 30.63 30.85 -0.22

Zhengzhou 1.8 1.87 -0.07 11 11.2 -0.2

Changsha 2.85 3.1 -0.25 13.2 14.1 -0.9

Beijing 10 10.9 -0.9 38 41.3 -3.3

North Tianjin 3.7 3.5 0.2 35.6 35.2 0.4

Taiyuan 1 1.2 -0.2 7.8 8 -0.2

Shijiazhuang 0.3 0.3 - 2.4 2.5 -0.1

Shenyang 9 10 -1 34.5 38 -3.5

Northeast Harbin 8 9 -1 31 33 -2
Changchun 2.7 2.9 -0.2 8 8.2 -0.2

Dalian 1.1 1.2 -0.1 12.8 13.3 -0.5

Chongqing 8.6 9.1 -0.5 35.5 36.7 -1.2

Chengdu 8.18 8.38 -0.2 30.78 31.08 -0.3

West Kunming 9.65 9.95 -0.3 32.05 32.55 -0.5

Guiyang 1.52 1.53 -0.01 3.6 3.7 -0.1

Xi’an 6.5 6.2 0.3 32.4 33.5 -1.1

Lanzhou 3.5 3.6 -0.1 11.5 11.5 -

Total 138.5 146.13 -7.63 585.06 612.06 -27

Note: SteelHome picks up major warehouses in the largest cities of China to study on the changes of marketplace

inventory.

China Flats Inventory for September 14- September 21 2012

Quantity: 10000 tonnes HR coil CR coil Medium plate
14-Sep 14-Sep
21-Sep Up/down 21-Sep Up/down 21-Sep 14-Sep Up/down
92 93.7 -1.7 37 38 -1
Shanghai 7.6 8.8 -1.2 1.9 2 -0.1 -
Hangzhou 4.15 4.23 -0.08 2.29 2.36
13.61 -0.1 2.24 2.31 -0.07 5.8 6.3 -0.5
Nanjing 13.51 0.79 0.05 3.04 3.36 -0.07
East Wuxi 0.84 75 -1 56.5 55.8 -0.32 4.81 4.91 -0.1
74 17.81 -0.46 1.55 1.57 0.7
Central Changzhou 17.35 3.7 -0.2 0.78 0.8 -0.02 14.58 14.78 -0.2
South Lecong 3.5 10.1 -0.9 1.25 1.41 -0.02
Wuhan 9.2 3.9 -0.2 0.5 0.6 -0.16 -
North 3.7 32 -3.4 9 9.3 -0.1
Zhengzhou 28.6 1.7 -0.1 0.15 0.15 -0.3 17.3 17.8 -0.5
Changsha 1.6
- 5.33 5.42 -0.09
Beijing 1
Tianjin 4.85 4.95 -0.1
Taiyuan
4.3 4.5 -0.2
Shijiazhuang
1.35 1.65 -0.3

5.3 5.6 -0.3

0.8 0.8 -

1.1 -0.1 0.18 0.18 - 1.8 2 -0.2

Jingtang 14 -1
4.8 5.4 -0.6 4.8 5.4 -0.6 13

Port

Shenyang 9.6 11.1 -1.5 1.4 1.4 - 4.7 5.9 -1.2

Harbin 6.5 6.8 -0.3 0.3 0.3 - 1.7 1.8 -0.1

Northeast Changchun 3.6 3.8 -0.2 0.5 0.55 -0.05 1.5 1.7 -0.2

Bayuquan 25.2 26 -0.8 - -
port

Chongqing 17.92 17.82 0.1 5.06 4.86 0.2 4.83 4.93 -0.1

Chengdu 17.07 16.96 0.11 3.35 3.69 -0.34 4.86 5.46 -0.6

West Kunming 7.68 7.48 0.2 0.31 0.21 0.1 2.85 3.05 -0.2

Guiyang 1.35 1.3 0.05 0.2 0.2 - 1.2 1.1 0.1

Xi’an 7.2 7.8 -0.6 3.04 3.09 -0.05 3.25 3.3 -0.05

Lanzhou 3.8 3.9 -0.1 0.8 0.8 - 0.9 1 -0.1

Total 361.77 374.8 -13.03 136.14 138.34 -2.2 105.01 110.95 -5.94

Note: SteelHome picks up major warehouses in the largest cities of China to study on the changes of marketplace

inventory.

Weekly Price

China Construction Steel Price Collection on September 21

Wire rod=6.5mm high speed WR Rebar=20 rebar

Unit: Yuan/ton 1USD=6.3426RMB

Market Shanghai Hangzhou Nanjing Wuxi Jinan Hefei
September 21 3650 3900
September 14 3580 3730 3860 3800 3570 3760
140
WR Up/down 3440 3590 3670 3600 80 4020
Rebar September 21 3650 3820
September 14 140 140 190 200 3500 200
WR 150 Wuhan
Rebar Up/down 3570 3640 3820 3700 Changsha 3680
Market 3790 3540
September 21 3420 3480 3630 3530 3630 140
September 14 160 3670
150 160 190 170 3990 3470
Up/down 3780 200
September 21 Fuzhou Nanchang Guangzhou Nanning 210
September 14
3850 3880 3980 3890
Up/down
3720 3720 3680 3820

130 160 300 70

3640 3800 3970 3800

3490 3650 3720 3670

150 150 250 130

China CR/HR sheet/coil Price Collection on September 21

Unit: Yuan/ton 1USD=6.3426RMB
Shanghai
Market 4450 Hangzhou Nanjing Wuxi Jinan Hefei
September 21 4260 4450 4570 4470
190 4510 4380 4320 4420 4400
1.0 CR sheet September 14 3700 130 150
Up/down 3530 4330 4320 3730 3870 70
170 3560 3700 3720
September 21 3600 180 60 170 170 3530
2.75 HR coil September 14 3400 3590 3720 190
200 3770 3800 3420 3450 3620
Up/down Fuzhou 170 270 3430
September 21 4490 3530 3610 Nanning Changsha 190
5.75 HR coil September 14 4380 4310 4400 Wuhan
110 240 190 4100 4350 4320
Up/down 3770 210 4260
Market 3650 3680 3620 3850 50
120 3690 3850 60
September 21 3410 3440 160 3630 3740
1.0 CR sheet September 14 220 3570
270 180 170
Up/down
September 21 Nanchang Guangzhou
2.75 HR coil September 14
4500 4290
Up/down
4420 4090

80 200

3900 3800

3610 3680

290 120

5.75 HR coil September 21 3650 3750 3520 3700 3730 3590
September 14 3530 3460 3400 3540 3510 3420
120 290 120 160 220 170
Up/down

China Silicon Steel Price Collection on September 21

Market Unit: Yuan/ton 1USD=6.3426RMB Tianjin Shengyang Wuhan
Shanghai Hangzhou 5800 5900 5500
5900 5500
September 21 5550 5550 0 0
5500 5100
0.5mm 600 September 14 5500 5550 5750 5500 5100
0 0
Up/down 50 0 50 16500 14700
16500 14700
September 21 5200 5150 5350 0 0

0.5mm 800 September 14 5150 5150 5300 Chengdu
6050
Up/down 50 0 50 6050
0
September 21 14600 14700 15200 5450
5450
30Q130 September 14 14600 14700 15200 0
16100
Up/down 0 0 0 16100
Market Guangzhou Wuxi Chongqing 0
5650
September 21 5650 5900

0.5mm 600 September 14 5550 5600 5900

Up/down 100 50 0

September 21 5100 5300 5450

0.5mm 800 September 14 5000 5250 5450

Up/down 100 50 0

September 21 14600 14900 17200

30Q130 September 14 14600 14900 17200

Up/down 0 0 0

China Prepainted Plate Price Collection on September 21

Unit: Yuan/ton 1USD=6.3426RMB

Market Shanghai Hangzhou Wuxi Boxing Fuzhou Guangzhou
September 21 7350 6250 6400
5450 5350 5650 7300 6250 6300
0.326mm September 14 100
Up/down 5450 5250 5650 50 0 6100
5650 5900 5900
September 21 0 100 0 5600 5900 200
0.476mm September 14
6790 5000 5300 50 0 Shenyang
Up/down Beijing Tianjin 5670
Market 6770 4900 5300 5750 5550 5670
5750 5550 0
September 21 20 100 0 5370
0.326mm September 14 0 0 5370
Shenzhen Wuhan Zhengzhou 5100 5000 0
Up/down 5100 5000
September 21 6550 7050 6800
0.476mm September 14 0 0
6450 7150 6680
Up/down
Market 100 -100 120

September 21 6150 6300 6350
0.326mm September 14
5950 6400 6330
Up/down
September 21 200 -100 20
0.476mm September 14
Chongqing Chengdu Xian
Up/down
5950 6000 6650

5950 6000 6650

000

5450 5500 6200

5450 5500 6200

000

China Medium Plate Price Collection on September 21

Unit: Yuan/ton 1USD=6.3426RMB

Market Shanghai Hangzhou Nanjing Wuxi Jinan Hefei
3820 3790 3920
September 3870 3760 3920
3880 3890 3950
21 60 100 30
3460
8mm September 3920 3850 3990 3440 3500
50 90 70 3600
14 3620 140 3650
3480 3450 3440 180 Changsha 150
Up/down Nanning 3880 Wuhan
4220 3970
September

21

20mm September 3600 3650 3630

14 120 200 190
Fuzhou Nanchang Guangzhou
Up/down
4080 4080 4150
Market

8mm September
21

September 4000 3950 4080 4120 3840 3840
14 -80 -130 -70 -100 -40 -130
3550 3460 3580 3680 3510 3440
Up/down
September 3700 3700 3650 3770 3620 3530
150 240 70 90 110 90
21 Zhengzhou Beijing Taiyuan
20mm September 4080 3820 Tianjin Shijiazhuang 3780 Baotou
3630 3750 3700
14 4080 3890 3950
Up/down 0 70 3870 3920 170 3820
Market 240 170 3400 120
September 3450 3320 3260 3350 3380
3570
21 3610 3560 3500 3520 170 3500
8mm September 160 240 240 170 120

14 Changsha
Up/down 3650
September
3650
21 0
20mm September
3650
14
Up/down 3650
0
China Carbon Structural Steel Price Collection on September 21
3700
Unit: Yuan/ton 1USD=6.3426RMB
3700
45# Shanghai Hangzhou Nanjing Wuxi Guangzhou 0
September 3720 3580
21 3720 3700 3670 Harbin
3530 3600
Φ20 September 3620 3540 3550 3570 50
14 100 160 120 150
3700 3700 3670 3720 3650
Up/down
September 3570 3540 3550 3570 3600
130 160 120 150 50
21 3770 3730 3820 3750
Φ50 September 3700
3640 3570 3760 3600
14 3650
Up/down 130 160 60 150 50
September Wuhan Zhengzhou Tianjin Shijiazhuang
Shenyang
21 3510 3650 3500 4000 3600
Φ100 September

14
Up/down
45#
September
Φ20

21

Φ50 September 3490 3550 3350 4000 3470 3500
Φ100 14 20 100 150 0 130 100
3550 3520 3600 3600
Up/down 3540 4050
September 3400 3350 3470 3500
3530 150 170 4050 130 100
21 10 3550 3550 0 3650 3650
September
3580 3400 3350 4150 3520 3550
14 150 200 130 100
Up/down 3570 4150
September 10 0

21
September

14
Up/down

China Stainless Steel Price Collection on September 21

Unit: Yuan/ton 1USD=6.3426RMB

Market Shanghai Wuxi Foshan Hangzhou Zibo Tianjin Taiyuan Shenyang
19100 19000 19000
September 19100 18900 18900 19000 19000
21

3042B 2.0mm coil September 18400 18400 18300 18400 18400 18700 18300 18300
14 400 700 700
9900 9700 9600
Up/down 700 500 600 600 600

September 9700 9600 9600 9700 9800
21

430/2B 2.0mm coil September 9700 9600 9500 9700 9800 9900 9700 9600
14 00 0

Up/down 0 0 100 0 0 10100 10000 9900

September 10000 9900 9800 9900 9900
21

201/2B 2.0mm sheet September 9800 9700 9500 9700 9700 9800 9600 9700
14 300 400 200
17400 17000 17000
Up/down 200 200 300 200 200

September 16900 16700 16800 17100 17300
21

304 NO.1 6.0mm sheet September 16600 16400 16500 16700 16800 16900 16700 16500
14 500 300 500

Up/down 300 300 300 400 500 17400 17300 17500

September 17400 17600 17000 17800 17300
304 NO.1 10.0mm sheet

21

September 17100 17200 16700 17400 16800 16900 17000 16800
14