Dated: June 5th, 2012

To Shanghai Bao Steel Logistics Co., Ltd.,

We’ve received your Application for Certified Delivery Warehouse of Shanghai Futures Exchange. In accordance with relevant regulations, specifically Guidelines for Certified Warehouses of Shanghai Futures Exchange, upon our consideration, Shanghai Bao Steel Logistics Co., Ltd. has been approved as Certified Lead Futures Backup Delivery Warehouse of Shanghai Futures Exchange. As of the date of issue of this approval, your company shall fulfill the management and operational preparations for the backup delivery warehouse in accordance with the Agreement on Certified Backup Warehouse of Shanghai Futures Exchange entered into between your company and the Exchange.