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SteelOrbis Shanghai The details of Baosteel's 4th Quarter price list are follows. VAT is included in the prices. I. Semi finished steel 1. Die steel: The price of B30H (thickness>200 mm) increased RMB 1,755/mt ($220); that of P20 (thickness>200 mm) increased RMB 351/mt ($44), that of 718 increased RMB 585/mt ($73); and that of other die steel in B series increased RMB 117/mt ($15); 2. The prices of LZ50 and SAF60 axle billet increased RMB 117/mt ($15); 3. The price of oxygen bottle billet (except 37Mn) increased RMB 117/mt ($15); 4. The prices of St35, St45, 10#, and 20# pipe billets increased RMB 351/mt ($44), that of the other pipe billets increased RMB 117/mt ($15); 5. The price of structural pipe steel increased RMB 117/mt ($15); 6. The price of 42MnMo7 drilling pipe steel increased RMB 702/mt ($88); that of other drilling pipe steel increased RMB 117/mt ($15); 7. The price of 36CrNiMo4 pipe joint steel increased RMB 1,170/mt ($147); that of other pipe joint steel products increased RMB 351/mt ($44); 8. The price of T12 boiler pipe steel increased RMB 585/mt ($73); 9. The price of 20MnMo forging steel increased RMB 585/mt ($73); that of 15CrMo (JB) increased RMB 234/mt ($29); 10. Q3 prices are in effect for other semi-finished products. II. Wire rod 3rd Quarter prices are still in effect. The price of 6.5 mm SCM435 is RMB 5,206/mt ($649), and the price of 6.5 mm SWRM8 is RMB 3,443/mt ($429). III. Hot rolled The price of SPHC decreased RMB 234/mt ($29). The ex-factory price of 3.0 x 1,250 mm SPHC hot rolled coil dropped to RMB 4,378/mt ($550). 3rd Quarter prices are in effect for the others. IV. Hot rolled and pickled 3rd Quarter prices are valid. The ex-factory price of 3.0 mm x 1,250 mm x C SPHC is RMB 5,144/mt ($646). V. Common quality cold rolled The price of common quality SPCC decreased RMB 234/mt ($29). The ex-factory price of 1.0 mm x 1,250 mm x C SPCC is RMB 5,377/mt ($676), that of 0.5 mm x 1,000 mm x C SPCC is RMB 5,869/mt ($737). 3rd Quarter prices are in effect for the others. VI. Full hard coil The price for October decreased RMB 468/mt ($59) based on the price list for September. The ex-factory price of 0.5 mm x 1,000 mm x C CDCM-SPCC regressed to RMB 4,823/mt ($606). VII. Hot dip galvanized 1. All hot dip galvanized product prices increased RMB 117/mt ($15); 2. There is an extra RMB 117/mt ($15) increase for non-chromated products; 3. Extras for zinc have been adjusted to RMB 351/mt; 4. Price increase for zinc coating shall be according to the following table:

Double-side galvanized    
quantity Zn (g/m2)    Zn <90     90-120   120-140   140-160   160-180  

Price increase for 
zinc coating (RMB)       0          176       234         293       351

The ex-factory price of 1.0 mm x 1,250 mm x C DC51D+Z is RMB 6,642/mt ($834) and that of 0.5 mm x 1,000 x C DC51D+Z is RMB 7,133/mt ($896). VIII. Aluminum-zinc 3rd Quarter prices are valid. The ex-factory price of 0.5 mm x 1,000 mm x C DC51D+AZ is RMB 7,309/mt ($918). IX. Electrogalvanized and electrogalvanized fingerprint resistant coil 3rd Quarter prices are in effect. The ex-factory price of 1.0 mm x 1,250 mm x C SECC is RMB 6,525/mt ($820), and that of 1.0 mm x 1,250 mm x C SECCN2 is RMB 7,344/mt ($923). X. Color coated The prices changed monthly. The October prices have changed as follows compared to September prices: 1. All color coated product prices decreased RMB 234/mt; 2. The prices of 2/1 or 2/1M TDC51D (TSt01) with thickness < 0.5 mm decreased another RMB 117/mt ($15). The ex-factory price of 0.5 mm x 1,000 mm x C TDC51D is RMB 7,145/mt ($898). XI. Medium Plate Prices for October increased RMB 117/mt ($15) month on month. The ex-factory price of 30 mm x 2,000 mm x 12,000 mm SS400 is RMB 5,148/mt ($647). XII. Electrical steel All electrical steel prices increased RMB 176/mt ($22). The ex-factory price of 0.5 mm x 1,000 mm x C B50A1000 reached RMB 5,815/mt ($731). XIII. Electrolytic tinning plate All prices increased RMB 234/mt ($29). The ex-factory price of 0.25 mm x 800 mm x C MR became RMB 8,859/mt ($1,113). XIV. Steel pipe 3rd Quarter prices are in effect. The above prices are effective as of August 22, 2006.