[copper Summit] "Yingtan Copper Price" launched the first batch of award companies to announce!

SMM7 March 16: today, the "Yingtan Copper Price Conference" was held at the 2020 China (Yingtan) Copper Industry Summit Forum and the 15th China International Copper Industry chain Summit hosted by SMM. The Yingtan municipal government and Shanghai Nonferrous Network signed a cooperation contract on "Yingtan Copper Price". Lu Jialong, vice president of Shanghai Nonferrous Network Information Technology Co., Ltd., gave a detailed introduction at the scene. Liao Liangsheng, vice mayor of Yingtan Municipal Government, Zheng Zhengchun, deputy director of Jiangxi Provincial Department of Industry and Information Technology, Chen Yunian, deputy general manager of Jiangxi Copper Group, and Xiong Wanlong, president of Oriental Group products Co., Ltd., attended the launching ceremony of "Yingtan Copper Price".

In recent years, Yingtan City has deepened supply-side structural reform, with quality improvement and efficiency growth as the core, technological progress and collaborative innovation as the driving force, actively improve the "eight-in-one" copper industry system, such as copper raw materials, copper smelting, copper processing, copper trade, copper research and development, copper testing, copper culture, copper products, etc., and build an industrial chain and innovation chain organically linking upstream and downstream to promote the development of the copper industry to high-quality connotations.

In view of the current situation of overcapacity of primary copper processing products and shortage of high-end products, Yingtan City has put forward a set of policies of "addition, subtraction, multiplication and division", such as cultivating complementary chain projects to add, reduce enterprise costs, encourage technological innovation to do multiplication, and eliminate backward production capacity for division, which has eliminated a total of 968000 tons of backward production capacity in copper smelting since 2011, effectively improving the level of copper processing technology and equipment. Fully support Jiang Copper Group Guixi smelter to carry out the pilot project of intelligent transformation, build a green factory, and build a large-scale copper smelting enterprise with the largest scale, the lowest production cost and the highest degree of intelligence in the world.

Yingtan thrives on copper. Since the establishment of the city in 1983, the successive municipal party committees and municipal governments of Yingtan have always focused on building the copper industry as the primary industry. In 2019, there were 119 copper enterprises above the city's scale, an increase of 32, with an annual output of 1.126 million tons of electrolytic copper and an annual output of 2.4546 million tons of copper, accounting for 11.51 percent and 12.17 percent of the country's total, respectively. Yingtan has built the largest copper industry chain base in China, is one of the most important copper smelting and copper processing gathering places in the country, is the most important copper consumption city in the country, and plays an important role in the development of China's copper industry. In response to the market demand, after a large number of industry research of SMM, the spot price of SMM Yingtan electrolytic copper (daily) and the spot processing fee of SMM Yingtan 8 copper pole (monthly) were officially launched on March 1, 2020. At the same time, SMM strictly implements the Yingtan copper price according to the IOSCO criteria.

Since the Yingtan copper quotation was launched, it has been strongly supported and recognized by the market and local copper-related enterprises. At present, SMM Yingtan Copper Electrolytic Copper Price reference and settlement has been used in local copper trading. The first batch of enterprises awarded by Yingtan copper price bidding units were unveiled at the press conference today, as follows:

SMM CEO Fan Xin and Gao Hua, director of Yingtan Municipal Bureau of Industry and Information Technology, awarded the license.

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