The Introduction of Shanghai Spot Metals
More and more companies are using the Shanghai Metal Exchange Market spot prices as their pricing standards. In line with the service principles of fairness, openness, objectivity, and accuracy, the following is an introduction of the Shanghai Spot Metal Price (SHMET).
The sampling time of all metals (Beijing Time):
|Cu|| 10:30-11:30 AM
|Al|| 10:30-11:30 AM
|Pb|| 10:30-11:30 AM
|Zn|| 10:30-11:30 AM
|Sn|| 10:30-11:30 AM
|Ni|| 10:30-11:30 AM
SHMETX and benchmark prices of varieties show the negotiated prices and
settlement prices of copper, aluminum, lead, zinc, tin, and nickel
at 11:30 every day.
SHMET shows the negotiated price range of sellers within the sampling time mentioned in A.
SHMET includes a 17% Value-Added Tax (VAT).
Manufacturers and traders may use the SHMET as a reference of standard spot prices in their purchasing and marketing efforts.
Please consult the SHMETX section for additional information on samplings and varieties.
The backwardation and contango of SHMET copper price is the difference between the copper spot price and SHFE copper ask price of the same month; that of SHMET aluminum price is done in the same manner; however the backwardation and contango of SHMET zinc price is the difference between the zinc spot price and SHFE three-month zinc ask price.
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