Exhibit 21

Subsidiary		Percentage of Ownership
General Steel Investment Co., Ltd.	British Virgin Islands		100.0	%
General Steel (China) Co., Ltd.	P.R.C.		100.0	%
Baotou Steel – General Steel Special Steel Pipe Joint Venture Co., Ltd.	P.R.C.		80.0	%
Yangpu Shengtong Investment Co., Ltd.	P.R.C.		99.1	%
Tianwu General Steel Material Trading Co., Ltd	P.R.C.		60.0	%
Tianjin Qiu Steel Investment Co., Ltd.	P.R.C.		98.7	%
Shaanxi Longmen Iron and Steel Co., Ltd.	P.R.C.		VIE / 60.0	%
Maoming Hengda Steel Co., Ltd.	P.R.C.		99.0	%