CSPT Third Quarter Meeting Reaches Consensus to Counter Internal Competition in Copper Industry

In response to the spirit of opposing "internal competitive consumption" within the copper smelting industry, as emphasized at the September 24 council meeting of the Xiong'an Nonferrous Metals Association, and to promote the healthy and stable development of the copper industry, the CSPT Third Quarter General Manager Meeting has reached the following consensus:

1.CSPT member companies firmly support the BM system and are committed to actively working toward achieving BM targets to maintain the stable operation of the industry.

2.Member companies resolutely oppose the use of pricing methods based on the average index of traders and smelters in procurement contracts.

3.The meeting calls on member companies to standardize bidding and procurement figures for smelters, strictly adhere to cost bottom lines, and prevent vicious competition.

4.The CSPT group will, based on the principles of fairness, impartiality, andgood faith performance, periodically rank suppliers and inspection arbitration institutions and implement a blacklist system as appropriate.