[announcement] New titanium concentrate (TIO2 ≥ 47%), rutile titanium dioxide and anatase titanium dioxide spot price of (SMM) in Shanghai Nonferrous Network

SMM, Feb. 25

Dear users,

Hello!

In order to facilitate titanium concentrate, titanium dioxide upstream and downstream enterprises to better control titanium concentrate and titanium dioxide market changes and timely reflect the spot market prices, reduce titanium concentrate and titanium dioxide market transaction risks and transaction costs, and constantly improve and deepen the research of titanium industry chain, SMM after a period of precipitation and market research, It is proposed to release new ex-factory tax prices of titanium concentrate (TIO2 ≥ 47%), rutile titanium dioxide and anatase titanium dioxide from March 1st for market reference.

SMM publishes daily spot metal prices (or price indices, including the Chinese market, non-Chinese markets and global markets), often referred to as SMM prices. SMM has formulated the corresponding methodology for the published SMM prices (all will be published on SMM's official website www.smm.cn for inquiry). The methodology stipulates the methods and procedures for the generation and release of SMM prices, and produces and publishes SMM prices in strict accordance with the provisions of the methodology.

In order to meet the actual situation of the spot market, SMM will make necessary amendments to the SMM price methodology and announce it on the official SMM website before its formal implementation. If you have any questions or suggestions about SMM price and its methodology, please contact SMM customer service personnel (please check the contact information on SMM's official website www.smm.cn).

This document sets out the price standards for titanium concentrate (TIO2 ≥ 47%), rutile titanium dioxide and anatase titanium dioxide. The purpose of SMM in formulating this standard is to establish a transparent and verifiable SMM pricing mechanism.

Second, the formation of spot price of SMM titanium concentrate (TIO2 ≥ 47%), rutile titanium dioxide and anatase titanium dioxide.

2.1 definition

The prices of SMM titanium concentrate (TIO2 ≥ 47%), rutile titanium dioxide and anatase titanium dioxide are formed and published by SMM according to this methodology and can be used by both parties as a reference for spot trade settlement of titanium concentrate (TIO2 ≥ 47%), rutile titanium dioxide and anatase titanium dioxide. The price is mainly based on the daily spot transaction price situation across the country, including taxes, capital occupation costs and other related trade expenses.

2.2 the new cesium-rubidium related price points for SMM are as follows:

Titanium concentrate (TIO2 ≥ 47%) (factory price including tax)

Rutile titanium dioxide (factory including tax price)

Anatase titanium dioxide (factory including tax price)

A total of 3 quotation points.

2.3 the quotation method generates SMM to collect the data information used to evaluate the spot price of titanium concentrate (TIO2 ≥ 47%), rutile titanium dioxide and anatase titanium dioxide by means of standard acquisition (that is, collecting the original data information in accordance with the SMM standard), including the quotations of the buyers and sellers that were not sold on the same day provided by the bidding unit (that is, the data provider), the actual transaction price of the transaction provided by the bidding unit, and so on.

2.4 the method of adopting the standard

SMM price analysts regularly collect data and information on the spot prices of titanium concentrate (TIO2 ≥ 47%), rutile titanium dioxide and anatase titanium dioxide from the bidding units on a regular basis (between 09:30 and 12:00 on each trading day) by telephone, QQ, Wechat, fax and e-mail. The price data information may include the price that has been closed on that day, the most likely price to be closed by the enterprise, the offer, and so on. All instant messaging content, email communication content and any face-to-face communication records will be archived; phone communication details will be summarized and entered into the database. The price data information must be a typical, repeatable transaction between non-affiliated market participants (financially and legally independent).

SMM price analysts are required to comply with the Compliance system when reporting to their supervisors any forced or threatened communication from market participants, or any induced offer that attempts to influence the outcome of the assessment. After the price is released, SMM will not revise or adjust it on the same day.

Product standards: meet the requirements of titanium concentrate (TIO2 ≥ 47%) (YB/T 4031-2015) anatase titanium dioxide (GB/T 1706-2006) rutile titanium dioxide (GB/T 1706-2006).

2.6 pricing units and forms of expression

Titanium concentrate (TIO2 ≥ 47%): RMB / ton; in interval form, including tax price (including 13% VAT)

Anatase titanium dioxide: RMB / ton; presented in interval form, including tax price (including 13% VAT)

Rutile titanium dioxide: RMB / ton; presented in interval form, including tax price (including 13% VAT)

Online update time: 12:00 every trading day

2.7 method of delivery: factory spot pick-up

III. Change of methodology

All markets are changing, and SMM is responsible for ensuring that the methodology for market reporting changes with market Synchronize. As a result, SMM conducts regular internal reviews of the appropriateness of the methodology based on industry feedback. SMM will follow the formal external consultation process for all substantive and non-urgent potential changes. Major changes are then announced and at least 28 days' notice is given, inviting comments from the industry, unless special circumstances, especially force majeure (natural disasters, wars, exchange bankruptcies, etc.) shorten the notice period. SMM promises to scrutinize all comments about proposed methodological changes, but in some cases it may have to change the methodology against the wishes of some market participants. In addition, SMM has a formal methodological consultation process.

Welcome more related enterprises in the industrial chain to participate and support SMM to better serve titanium concentrate and titanium dioxide related enterprises. Shanghai Nonferrous Network Information Technology Co., Ltd. Small expensive industry research team.