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Advances to Suppliers	6 Months Ended
Dec. 31, 2014
Advances To Suppliers
Advances to Suppliers	9. Advances to Suppliers Cash advances are shown net of allowances of $4,798,008 and $3,836,107 at December 31, 2014 and June 30, 2014, respectively. Due to an overall negative operating environment for steel businesses in China at present, caused by oversupply and tightened credit, we will regularly review our suppliers and our policy for provision for allowance for advances to suppliers to reflect changes from our historic raw materials receipt experience and to ensure the appropriateness of the allowance in light of the circumstances present at the time of the review.

Advances to Suppliers

6 Months Ended

Dec. 31, 2014

9. Advances to Suppliers

Cash advances are shown net of allowances of $4,798,008 and $3,836,107 at December 31, 2014 and June 30, 2014, respectively.

Due to an overall negative operating environment for steel businesses in China at present, caused by oversupply and tightened credit, we will regularly review our suppliers and our policy for provision for allowance for advances to suppliers to reflect changes from our historic raw materials receipt experience and to ensure the appropriateness of the allowance in light of the circumstances present at the time of the review.