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---------- Chairman of CCCMC, Chen haoran

The chairman Mr Chen haoran from CCCMC has put forward the speech titled by < Fulfill the scientific develop idea, build up new trading rules>.

Firstly, Mr Chen has shown the appreciation and thanks to the attendees. And in his report, he has done the statement on the 2005 China’s ferroalloys market status in view of the internal market situation and export market.

Pointing to the 2006 China’s ferroalloys market status, Mr Chen has warned the market continues to be stern which can be concluded in the following points: I), the ferroalloys production capacity is in surplus and the conflict between demand and supply still dominate; II) macro-control policies will accelerate the ruffling in the ferroalloys industry; III) small operation scale, backward equipments, low efficiency and the bad environmental protection facilities in the ferroalloys enterprise will improve during the” eleventh five-year period ”; IV) disorders competition and the artificial stirring up phenomenon requires changes.

In conclusion, 2006 year will be one year full of challenges and opportunities. (Maggie)