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The Shanghai Metal Price Index (SHMETX) is compiled and published by SHMET. SHMETX is an index which illustrates Shanghai spot price of base metals. Its composition’s benchmark prices are based on the most intensive trading sessions for base metals during the trading day. It is a weighted average price of conventionally traded metals. Therefore, it can authoritatively reflect the market's actual transaction prices with objectivity, accuracy, fairness and equability. It is also an important benchmark for spot pricing and price reference largely used by the industry.


Preparation Instructions:

Sampling categories of metals: Samples include the Shanghai supply prices of the six major base metals including copper, aluminum, lead, zinc, tin, and nickel, with their quality meeting relevant LME and SHFE standards (or the equivalent quality standards recognized by the market).

Average Sample Price:

It is the average (Pcu、Pal、Ppb、Pzn、Pni、Psn ) of the highest price and the lowest price, based on daily inquiries made by SHMET with sampling companies about prices of these metals which have a large quantity in circulation and slightly vary in terms of quality.

Sampling companies:

These are the companies in principle who have an annual sale of more than RMB 100 million, have good reputation and pricing capacity among the Shanghai metal companies as well as can provide quality services. These companies are contracted with SHMET, and SHMET may make any necessary adjustments with these companies quarterly. Sampling companies are required to quote objectively, timely and rationally, and also should be capable of providing physical metals without delay.

Weighting and Composition

They are adjusted at the beginning of each year considering the scale of different metals, i.e. its parameter (Qcu、Qal、Qpb、Qzn、Qni、Qsn), according to the annual domestic production over the previous year, published by the National Bureau of Statistics of China.

Daily weighted average price:

The weighted average price is the SHMETX on that day.



SHMETX is published daily at 11:30 Beijing Time by SHMET along with the benchmark prices of the six major base metals, namely copper, aluminum, lead, zinc, tin and nickel. Any corporate or individual authorized by SHMET is entitled to receive these pricing data from SHMET via email and can forward to others. It is suggested to refer to data published on the SHMET official website in case of any possible information error or piracy. SHMET promote extensively SHMETX and the benchmark price wherever possible as well as provide better services for our clients that require price references for their business. Meanwhile, weekly and monthly average prices of different metals are also published daily on our website, providing pricing references to the corporates for their monthly settlement.


Products and services:

1. This product is publicly available and can be obtained free of charge on SHMET’s official website and by email. It can also be provided by us through fax and text messages with a fee.

2. In addition to the sampling companies, other companies are also allowed to publish information as commercial rates on our platform.

3. In addition to SHMETX daily release, SHMET also provides services such as historical index and average price of all metals, non-local premiums and discounts and other authoritative quotations including minor metals, scrap, and metal materials etc.


Additional note:

1、SHMETX Reuters terminal code: <.SHMETX>;
Category benchmark Reuters page code: <SHMETD>


2、About sampling companies:

SHMETX’s sampling companies, selected and contracted with SHMET who is responsible for data preparation and publication, can provide competitive prices of different metals objectively, timely and effectively on daily basis. Prices data provided by these companies are fundamental to compile sampled average price of SHMETX and are also vital basis for SHMETX.


1).Can provide daily competitive prices of different categories objectively, timely and effectively. Categories include copper, aluminum, lead, zinc, tin and nickel (in line with requirements of SHMETX quality standards).

2).Recognized by the general metals industry, with creditability, high awareness of services and broad services coverage.

3).Can provide daily metals in a substantial amount which are traded at the quoted prices.

4).Annual sale Annual sale has a certain scale.


3、SHMET policies for sampling companies:

1).The corporate name and quotations of sampling companies are published along with the release of SHMETX, this would help raise these companies’ profiles and improve their market recognition

2).Sampling companies are entitled to participate in promotion campaigns and other marketing activities organized by SHMET.

3).Sampling Companies enjoy other SHMET paid services with discounts



1).To better reflect changes in the market, we will make adjustment periodically about our cooperative sampling companies, according to SHMETX’s compilation rules.

2).Cooperation between sampling companies and SHMET in terms of SHMETX is mutually free of charge, which will not restrict other extensive business cooperation.

3).SHMET reserves the right to the final interpretation of this instruction.

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