Investor Presentaiton

40 40 42 44 Jul-09 Aug-09 46 46 48 48 50 52 49 49 54 56 Chinese Steel Market Production vs. consumption (mnt) Monthly finished steel production reduced to 46.5mnt in Sep' 10 from 54.5mnt in May' 10 JŚW Monthly Exports (mnt) Withdrawal of export rebate in July coupled with reduced production resulted in lower exports 46 123 43 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Finished Steel Production Apparent Steel Consumption Source: Mysteel, WSA (All figures are in million tons ) 53 45/ 54 Jan-10 2.9 Feb-10 2.5 3.3 4.3 5.0 5.7 4.6 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 2.8 Sep-10 3.0 12

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