[SMM Announcement: SMM Adds New FOB Price Point for Formosa Plastics Coke]

Dear Users:
Hello!

Formosa Petcoke holds a significant position in the imported petroleum coke market due to its stable quality, moderate pricing, and consistent supply system, becoming a key category that cannot be overlooked in the industry. To precisely align with the actual needs of carbon enterprises for petroleum coke products and assist market entities in deeply understanding the spot cost and price fluctuation trends of Formosa Petcoke, SMM will newly release FOB price data for Formosa Petcoke starting from June 16, 2025. This initiative aims to provide the industry with more comprehensive and diverse spot price information, offering enterprises a richer selection of settlement reference standards.

I. General Rules of SMM Price Assessment Methodology

Shanghai Metals Market (hereinafter referred to as SMM) is a completely independent third-party service institution that does not participate in any substantive transactions. Instead, it maintains close communication with buyers or sellers in transactions as a market observer or organizer, providing relevant services to the market. Through communication with industry insiders, SMM continuously formulates, reviews, and revises its methodologies, adopting the most common product specifications, trade terms, and trade conditions in the industry. It also attaches equal importance to normal transactions that meet specification standards. SMM reserves the right to exclude any price information deemed unreliable or unrepresentative from its pricing assessments.

SMM publishes daily metal spot prices (or price indices, including the Chinese market, markets outside China, and the global market), commonly referred to as SMM prices. SMM has formulated corresponding methodologies for all SMM prices it publishes (which will be made available for inquiry on SMM's official website at www.smm.cn). These methodologies outline the methods and procedures for generating and publishing SMM prices, and SMM strictly adheres to these methodologies when generating and publishing its prices.

To align with the actual conditions of the spot market, SMM will make necessary revisions to its SMM price assessment methodologies and announce them on SMM's official website prior to formal implementation. If you have any questions or suggestions regarding SMM prices or their methodologies, please contact SMM's customer service personnel (contact information can be found on SMM's official website at www.smm.cn).

II. Formation of FOB Price for Formosa Coke

2.1 Definition

The SMM FOB quotation for Formosa Coke is an indicative price generated and published in accordance with this methodology, which can be used as a reference for settlement between the two trading parties. The quotation is provided on a monthly basis and reflects the tax-exclusive price for Formosa Coke delivered at Mailiao Port. SMM price members can simultaneously query historical prices at that time.

2.2 Price Generation Methodology

SMM obtains FOB price information for Formosa Coke through standard price collection methods, which include but are not limited to actual prices provided by price submitters. SMM filters out price information that deviates from the market and ultimately forms relatively fair and reasonable mainstream quotations.

2.3 Product Standard

NB/SH/T 0527-2019.

2.4 Pricing Unit and Presentation Format

US dollar per metric ton ($/mt), presented in a range format.

2.5 Delivery Location

Mailiao Port

2.6 Quotation Time:

11:00-11:30 AM on the 15th of each month

III. Methodology Changes

All markets are subject to change, and SMM is responsible for ensuring that the methodologies for market reports evolve in tandem with the market. Therefore, SMM will conduct regular internal reviews of the appropriateness of the methodologies based on industry feedback. For all substantive but non-urgent potential modifications, SMM will follow a formal external consultation process. Major changes will then be announced with a notice period of at least 28 days, inviting industry participants to provide comments, unless special circumstances, particularly force majeure (natural disasters, wars, exchange bankruptcies, etc.), necessitate a shorter notice period. SMM undertakes to carefully consider all comments regarding proposed methodology changes, but in certain circumstances, may have to make changes to the methodologies against the wishes of some market participants. Additionally, SMM has a formal methodology consultation process in place. SMM is committed to serving enterprises in the aluminum industry chain and reducing their transaction costs. The new price points will be updated on the 15th of each month. Please stay tuned.For any feedback, please contact 021-20707893.

SMM Information & Technology Co., Ltd.

Aluminum Division

June 9, 2025