Located in the Wumao Building--the largest non-ferrous metal spot market, Shanghai Metal Exchange Market (SHMET) announces the Shanghai Spot Metal Quote (SHMET). The Shanghai Spot Metal Quote (SHMET) is updated daily since May 2000. It is the spot prices of the six base metals - copper, aluminum, nickel, lead, zinc and tin. These prices are used by industry worldwide as the basis for contracts for the movement of physical material throughout the production cycle. Shanghai Metals Exchange Market(“SHMET”) has launched the country’s first metal spot price index called ‘Shanghai Metal Price Index (SHMETX)’ on 12th July 2004, which serves as a barometer of the metal market in China and provide a reliable price benchmark across the metal industry. The index is aimed at the China metal consumers enabling them to avert from risks against market price volatility.