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Investor Presentaiton

ResearchinChina Global and China Stainless Steel Industry Report, 2009-2010 Stainless steel can be classified into 300 series, 400 series and 200 series, among which, 300 series boasts the mainstream in the market. In 2009, 300 series accounted for 60.6% of the global stainless steel output and 52.06% of the Chinese stainless steel output. With the growing demand for stainless steel in emerging economies like China, South Korea and India, the global stainless steel industry is transferring to these countries at an ever faster speed. In 2009, against the backdrop of declining consumer demand for stainless steel in Europe and America, global crude stainless steel output dropped 5.2% year on year to 24.6 million tons. By contrast, the stainless steel output in Asia increased by 6.2%. A case in point is China, whose output of crude stainless steel rose by 26.8% to 8.805 million tons.
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