All members,

COREX electronic trading system will set out to upgrade on September 16^th, 2019 (Monday) and details are as below:

1. Delivering A and Bonded-Zone B: only formula name is displayed when offering floating price and the unit of “Fixed LP DMTU” is not shown. The exact formula and the according unit of “Fixed LP DMTU” refer to Measures for the Implementation of Iron Ore Floating-Priced Trading in Beijing Iron Ore Trading Center.

2. On-port D: Customized volume can be transacted for each deal, i.e. when offer volume of the buyer and seller are inconsistent, a deal will be concluded at the less volume, and the remaining or surplus volume will keep offering in the system. The minimum offer and variation volume are both 1,000wmt.

3. Function buttons are added in home page, including “Adjust, Off, Counter and Deal”. The offer will keep online while adjusting price.

4. All documents under Contracts can only be checked and downloaded by mutually-matched members.

5. Function of checking tender is added.

Regulations on Iron Ore Spot Trading of Beijing Iron Ore Trading Center and Measures for the Implementation of Iron Ore Floating-Priced Trading in Beijing Iron Ore Trading Center will be both amended and effective simultaneously.

Hereby be informed.

Beijing Iron Ore Trading Center Corporation

September 10^th, 2019