SHANGHAI, Aug. 3 (SMM) – SMM put online its physical metal trading center based in the Shanghai Free Trade Zone July 31.
The trading center is established based on the internet of things (IOT) with the aim of achieving faster and safer metal trading.
A total of 76 companies have opened accounts or expressed intention of opening accounts at the trading center, including 24 companies overseas.
Shanghai Jiangxi Copper International Logistics Co. has made a deal with foreign buyer Arc Resources Company Limited for 202 tonnes of copper in bonded area, with the transaction value exceeding 6.6 million yuan ($1.06 million).
At present, base metals, including copper, nickel, zinc, aluminum, lead, and tin, as well as some minor metals, are available for trading on SMM platform, with more products to be covered in the future.
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