SMM #1 Copper Cathode Price - standard Copper Brand Expansion Progress Report!

SMM officially held an online meeting at 3:10 PM on July 31, inviting key participants in the East China market to discuss the expansion of SMM's standard copper price collection brands. SMM invited 22 smelters, 21 traders, and 24 downstream enterprises to the online meeting. (The invited companies are major suppliers, traders, and consumers of copper cathodes in East China; their market share exceeds 75%.)

On August 4, 2025, SMM inquired about the capacity, production, and the ratio of long-term and spot orders for copper cathodes shipped to Jiangsu, Zhejiang, Shanghai, and Anhui from 21 smelters. (Compliance statement: The data collected by SMM through inquiries is solely for broadening the price collection brands and optimizing the price assessment methodology, in line with the IOSCO price assessment methodology inquiry content. It will not be distributed or used commercially.)

From August 5 to August 8, 2025, SMM gathered relevant information from the above-mentioned companies, organized the qualified brands, and publicly solicited opinions from the entire industry.

From August 12 to August 22, 2025, SMM sent the brand selection forms to the main traders and downstream enterprises in East China, receiving 30 valid responses.

On August 25 and 26, 2025, SMM compiled and calculated the scores for each brand, removing the highest and lowest scores for a comprehensive calculation.

Scoring formula: Market factors 50% (price advantage 60% + supply capability 40%) + quality factors 25% (copper content 50% + impurity content 50%) + payment terms 15% (payment conditions 50% + payment cycle 50%) + other performance 10% (financial services 50% + logistics services 50%).

This scoring formula applies to all brands, with different performances across the dimensions of market, quality, payment, and others.

SMM calculated the comprehensive scores based on the above weights, selecting the brands with overall advantages to be included in the expanded parity copper price collection brand system. The following is the SMM domestic parity copper price collection brand day. The implementation date is September 16, 2025, starting from the SHFE copper 2510 contract.